The Exp_Loco Expert Advisor is designed to leverage signals from the Loco indicator. This EA generates a signal when a bar closes and detects a change in the icon color of the indicator.
To get started with this Expert Advisor, you'll need the compiled indicator file Loco.ex5. Make sure to place it in your <terminal_data_folder>\MQL5\Indicators directory.
Keep in mind that the TradeAlgorithms.mqh library file enables the use of Expert Advisors with brokers that have a nonzero spread. It also allows you to set your Stop Loss and Take Profit right when you open a position. You can download other versions of this library by following this link: Trade Algorithms.
The default input parameters for the Expert Advisor were utilized during the testing phase outlined below. Note that Stop Loss and Take Profit settings were not applied during these tests.
Fig. 1. Trade examples on the chart
Here are the testing results for 2014 on the USDJPY H8:
Fig. 2. Chart of testing results
Comments 0