If you’re diving into automated trading, the Exp_LeManTrend EA is a fantastic tool to consider. This Expert Advisor takes advantage of signals generated by the LeManTrend oscillator. Essentially, it triggers a signal when a bar closes, which happens when the main and signal lines of the indicator cross.
To get started, ensure you have the compiled indicator file LeManTrend.ex5 in your trading setup. You’ll need to place this file in the <terminal_data_folder>\MQL5\Indicators directory.
A cool feature of this EA is its compatibility with the TradeAlgorithms.mqh library. This allows you to use Expert Advisors with brokers that provide a nonzero spread, plus you can set your Stop Loss and Take Profit right when you open a position. If you’re looking for more options, check out additional variants of the library here: Trade Algorithms.
For the tests highlighted below, the default input parameters of the Expert Advisor were used. Notably, neither Stop Loss nor Take Profit settings were applied during these tests.
Fig. 1. Trade examples on the chart
Let’s take a look at the testing results from 2014 for USDJPY on the H4 timeframe:
Fig. 2. Chart of testing results
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