The Exp_ColorSchaffTriXTrendCycle trading system is designed for MetaTrader 5 and leverages the ColorSchaffTriXTrendCycle oscillator. This nifty tool identifies shifts in market momentum, specifically when prices hit overbought or oversold levels. Trading signals are generated at the close of a bar once a level is breached, giving you a heads-up to make your move.
To get started, you’ll need the compiled indicator file ColorSchaffTriXTrendCycle.ex5. Just drop it into your <terminal_data_folder>\MQL5\Indicators directory, and you’re good to go!
One of the standout features of this EA is its compatibility with brokers that offer nonzero spreads. Plus, it allows you to set your Stop Loss and Take Profit levels right when you open a position. If you're interested in expanding your toolkit, check out more variations of the library here: Trade Algorithms.
For the tests below, we used the default input settings of the Expert Advisor. It’s worth noting that neither Stop Loss nor Take Profit were applied during the testing phase.
Fig.1. Trade examples on the chart
Here are the testing results for 2014, focusing on the GBPJPY on the H4 timeframe:
Fig.2. Testing results chart
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