Hey there, fellow traders! If you're looking to sharpen your trading strategies, let me introduce you to the Exp_VWAP_Close. This nifty tool is built around the VWAP_Close moving average, which helps identify changes in market direction. The magic happens when a bar closes and there's a shift in the indicator's direction, giving you a solid signal to act on.
To get started, you'll need the compiled indicator file VWAP_Close.ex5. Just save it in your <terminal_data_folder>\MQL5\Indicators directory, and you're all set!
One thing to keep in mind is that the TradeAlgorithms.mqh library file allows you to use Expert Advisors with brokers that offer a nonzero spread. Plus, you can set your Stop Loss and Take Profit right when you open a position. If you're curious to explore more options, you can download various versions of the library here: Trade Algorithms.
For the tests below, we utilized the default input parameters of the Expert Advisor. It’s worth noting that neither Stop Loss nor Take Profit were used in these tests.
Fig.1. Examples of trades on the chart
Now, let’s dive into the testing results for 2014 on the EURUSD H8:
Fig.2. Charts of testing results
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