If you’re looking to enhance your trading game, the Exp_ColorSchaffRSITrendCycle EA is worth checking out! This Expert Advisor is built on the ColorSchaffRSITrendCycle oscillator, which signals when price levels break through overbought or oversold zones.
To get started with this EA, you’ll need to have the compiled indicator file ColorSchaffRSITrendCycle.ex5 set up in your trading platform. Simply drop it into your <terminal_data_folder>\MQL5\Indicators directory.
One cool thing about this EA is that it works seamlessly with brokers that offer nonzero spreads, and it allows you to 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 resources.
The testing results displayed below use the default input parameters of the EA, and keep in mind that neither Stop Loss nor Take Profit were utilized during these tests.
Fig.1. Trade examples on the chart
Here are the testing results for 2014 on the GBPJPY H4 pair:
Fig.2. Testing results chart
Comments 0