If you're looking to enhance your trading game, the Exp_ColorSchaffRVITrendCycle Expert Advisor is a tool you won't want to miss. This EA is built on the ColorSchaffRVITrendCycle oscillator, which signals when to enter trades based on its position relative to overbought and oversold levels. A trade signal is generated when a bar closes after breaking through these levels.
To get this Expert Advisor up and running, you’ll need the compiled indicator file ColorSchaffRVITrendCycle.ex5. Simply drop it into your <terminal_data_folder>\MQL5\Indicators directory.
One of the great features of this EA is that it works seamlessly with brokers that offer nonzero spreads. Plus, you can set your Stop Loss and Take Profit right when you open a position. If you want to explore other options, you can grab more variations of the TradeAlgorithms.mqh library here: Trade Algorithms.
For the tests we conducted, we used the default input parameters of the Expert Advisor. Notably, we didn’t utilize Stop Loss or Take Profit during these tests.
Fig.1. Trade examples on the chart
Here are the testing results for 2014 using the GBPJPY pair on the H4 timeframe:
Fig.2. Testing results chart
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