Hey fellow traders! Today, I want to introduce you to the Exp_XMACandles Expert Advisor, a powerful tool designed to enhance your trading experience on MetaTrader 5. This EA is built on the signals generated by the XMACandles indicator, which provides actionable insights based on candlestick color changes right at the bar's close.
Before you dive in, make sure you have the compiled indicator file XMACandles.ex5 ready to go. You can easily place this file in your terminal_data_folder/MQL5/Indicators directory to get started.
A quick heads up: the TradeAlgorithms.mqh library file is essential for using EAs with brokers that offer a nonzero spread. It also allows you to set your Stop Loss and Take Profit levels right when you open a position. If you want more options for this library, check out this link: Trade Algorithms.
For the tests illustrated below, we used the default input parameters of the EA. Note that neither Stop Loss nor Take Profit was employed during these tests, so keep that in mind when evaluating the results!
Fig. 1. Examples of trades on the chart
Now, let’s take a look at the test results from 2015 for the EURUSD on the H4 timeframe:
Fig. 2. Testing results chart
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