If you're diving into automated trading, the Exp_ColorXCCXCandle Expert Advisor (EA) is worth a look. This EA leverages the ColorXCCXCandle indicator to generate trading signals based on candle color changes. Essentially, when a candle closes and its color shifts, that's your cue!
To get started, simply place the ColorXCCXCandle.ex5 and XCCX.ex5 files into your <terminal_data_folder>\MQL5\Indicators directory.
One of the great features of this EA is its compatibility with brokers offering nonzero spreads. Thanks to the TradeAlgorithms.mqh library, you can also set your Stop Loss and Take Profit right when you open a position. If you're interested in more library options, check out this link: Trade Algorithms.
For the tests below, we've used the EA's default input parameters, and it's worth noting that we didn't employ any Stop Loss or Take Profit settings during testing.
Fig.1. Trade examples on the chart
Looking at the testing results for 2014 on the GBPJPY H4 timeframe:
Fig. 2. Chart of testing results
Comments 0