If you're looking to enhance your trading strategy, the Exp_HLRSign Expert Advisor is a fantastic tool to consider. Built around the reliable HLRSign semaphore arrow signal indicator, this EA helps you make informed trading decisions.
The signals generated by this EA come into play when a bar closes, specifically when the indicator crosses predefined overbought or oversold levels. You can customize these levels through the EA's input parameters:
input uint HLR_UpLevel=80; // Overbought level input uint HLR_DnLevel=20; // Oversold level
You have two trading algorithms available within the EA's settings:
- Enter trades when reaching oversold or overbought zones;
- Enter trades when exiting those zones;
To run the Expert Advisor, make sure you have the compiled indicator file HLRSign.ex5 placed in your terminal data folder under MQL5\Indicators.
A handy feature of this EA is that it utilizes the TradeAlgorithms.mqh library, which allows it to work seamlessly with brokers offering nonzero spreads. This library also supports setting Stop Loss and Take Profit at the same time as opening positions. You can find additional variants of this library at this link: Trade Algorithms.
The tests showcased below employed the default input parameters of the Expert Advisor. Notably, Stop Loss and Take Profit were not used during these tests.
Fig. 1. Examples of deals on the chart
Here are the testing results for 2014 on the EUR/USD H1 timeframe:
Fig. 2. Testing results chart
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