Hey fellow traders! Today, we're diving into a fantastic trading system that utilizes the ColorJFatl_StDev indicator. This system generates signals based on the indicator's color points right at the close of a bar. If you're holding a position and the indicator flips direction, that's your cue to exit the market.
To get started with this Expert Advisor (EA), make sure you have the compiled indicator file, ColorJFatl_StDev.ex5, saved in your <terminal_data_folder>\MQL5\Indicators directory. This is crucial for the EA to function correctly.
Also, keep in mind that the TradeAlgorithms.mqh library file is a game changer. It allows you to use Expert Advisors with brokers that offer a nonzero spread and lets you set your Stop Loss and Take Profit right when you open a position. You can explore more options for this library here: Trade Algorithms.
During our testing, we used the default input parameters for the Expert Advisor, and it's important to note that we didn’t apply Stop Loss and Take Profit settings in these tests.
Fig. 1. Examples of trades on the chart
Now, let’s take a look at the testing results for 2015 using the EURUSD pair on the H4 timeframe:
Fig. 2. Charts of testing results
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