Hey traders! If you’re looking to enhance your trading strategy, let me introduce you to the Exp_Delta_RSI Expert Advisor. This nifty EA leverages the Delta_RSI indicator, specifically its color changes, to signal potential trade opportunities.
Here’s how it works: when the color of the indicator histogram shifts to a light green or pink at the close of a bar, that’s your cue to jump in and make a trade!
To get started, you’ll need the compiled indicator file, Delta_RSI.ex5. Make sure to place it in your terminal data folder at MQL5\Indicators.
What’s cool about this Expert Advisor is its compatibility with brokers that offer nonzero spreads. It also provides the flexibility to set Stop Loss and Take Profit at the same time as you open a position, thanks to the TradeAlgorithms.mqh library. You can snag additional versions of this library at this link: Trade Algorithms.
During my tests, I used the default input parameters for this EA. Just a heads up, I didn't apply Stop Loss or Take Profit during the testing phase.
Fig1. Examples of deals on the chart
Now, let’s take a look at the testing results for 2015 on the GBPJPY H4:
Fig.2. Chart of testing results
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