The Exp_SlopeDirectionLine EA is a powerful tool designed for traders using MetaTrader 5. This Expert Advisor (EA) operates based on signals from the SlopeDirectionLine trend indicator, ensuring you capture market movements effectively.
You'll receive trade signals right when a bar closes, but only when there's a change in the indicator's line color. This feature helps you stay ahead of the curve and make timely trading decisions.
To get the EA up and running, make sure you place the compiled indicator file SlopeDirectionLine.ex5 into your terminal_data_folder\MQL5\Indicators directory.
It's worth noting that the TradeAlgorithms.mqh library file enables the use of Expert Advisors with brokers that offer a non-zero spread. Plus, it allows for the setup of Stop Loss and Take Profit right when you open a position. You can find more versions of this library here.
During the tests shown below, we used the default input parameters of the EA. Keep in mind that Stop Loss and Take Profit settings were not utilized in these tests.
Fig. 1 The instances of history of deals on the chart.
Here are the testing results for 2013 using the USDJPY on the H4 timeframe:
Fig. 2. Chart of testing results
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