Hey there, fellow traders! Today, we’re diving into the Exp_ColorJFatl_Digit EA, a nifty tool for MetaTrader 5 that helps you make sense of market movements. This Expert Advisor works based on the ColorJFatl_Digit indicator's color changes. Essentially, it generates a trading signal whenever the indicator line changes color as a bar closes.
To get started, you’ll need to have the compiled indicator file, ColorJFatl_Digit.ex5, in your toolkit. Just drop it into your <terminal_data_folder>\MQL5\Indicators directory, and you’re good to go!
One cool feature of this EA is its compatibility with brokers that offer nonzero spreads. Plus, it allows you to set your Stop Loss and Take Profit right when you open a position. If you're looking to explore more variants of the Trade Algorithms library, check it out here: Trade Algorithms.
For the tests outlined below, we used the default input parameters for the Expert Advisor, and it’s worth noting that we didn’t apply Stop Loss or Take Profit during these tests.
Fig.1. The instances of history of deals on the chart.
Now, let’s take a look at the testing results for 2014 on the EURUSD H4 timeframe:
Fig.2. Testing results chart
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