If you’re on the hunt for a reliable trading system, let’s take a closer look at the ColorHMA StDev indicator. This system operates by generating signals based on the indicator's color changes at the close of each bar. Basically, when the indicator flips its color, that's your cue to either jump into a trade or exit a position if it’s going against you.
To get started, you’ll need to have the compiled indicator file, ColorHMA_StDev.ex5, ready to roll. Make sure to save it in your <terminal_data_folder>/MQL5/Indicators directory.
Also, a little heads up: the TradeAlgorithms.mqh library file is a game changer. It enables the use of Expert Advisors with brokers that offer non-zero spreads, plus it gives you the option to set your Stop Loss and Take Profit right when you open a position. If you’re looking for more variations of this library, check out this link: Trade Algorithms.
The testing results shown below were conducted using the default input parameters for the Expert Advisor, without any Stop Loss or Take Profit settings during the tests.
Fig. 1. Examples of trades on the chart
Now, let’s dive into the testing results for the year 2015, specifically for EURUSD on the H8 timeframe:
Fig. 2. Charts of testing results
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