Hey there, fellow traders! If you're looking to up your game with automated trading, let me introduce you to the Exp_SMI_Correct Expert Advisor. This nifty tool relies on the color change of the SMI_Correct indicator to generate signals. Basically, it triggers a trade when a bar closes and there's a shift in the cloud color of the indicator. Pretty cool, right?
To get this EA running, you'll need the compiled indicator file SMI_Correct.ex5. Just drop it into your <terminal_data_folder>\MQL5\Indicators directory, and you’re all set!
One thing to note: the TradeAlgorithms.mqh library file is essential for using EAs with brokers that offer nonzero spreads. It also lets you set your Stop Loss and Take Profit right when you open a position. If you want to explore more variations of this library, check out this link: Trade Algorithms.
For the tests shown below, we used the default input parameters for the Expert Advisor. Keep in mind that Stop Loss and Take Profit settings were not utilized during these tests.
Fig.1. The instances of history of deals on the chart.
Now, let’s dive into the testing results for 2015 on the GBPUSD H4:
Fig.2. Testing results chart
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