Hey fellow traders! If you’re looking to up your game on MetaTrader 5, you might want to check out the Exp_i-AMMA Expert Advisor. This nifty tool is built around the reversal of the i-AMMA moving average direction, and it generates signals when a bar closes and we see a shift in the indicator's direction.
To get started, make sure you have the compiled indicator file i-AMMA.ex5. You’ll need to drop it into your <terminal_data_folder>/MQL5/Indicators folder for everything to work smoothly.
What’s cool about this Expert Advisor is that it’s compatible with brokers that offer nonzero spreads. Plus, it lets you set your Stop Loss and Take Profit right when you open a position. If you want to explore more options, check out the Trade Algorithms library for additional variants.
For the tests below, we used the default input parameters of the Expert Advisor, and just a heads up—neither Stop Loss nor Take Profit was employed during these tests.
Fig.1. Trade examples on the chart
Now, let's dive into the testing results for the year 2014 on the GBPUSD H4:
Fig.2. Testing results chart
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