The Exp_ColorBearsGap is a powerful Expert Advisor designed for MetaTrader 5, leveraging the signals from the ColorBearsGap indicator. This EA generates signals based on changes in the histogram color when a bar closes, helping you identify potential trading opportunities.
To get started, simply place the ColorBears.ex5 and ColorBearsGap.ex5 files into your <terminal_data_folder>\MQL5\Indicators directory.
One of the standout features of this EA is its compatibility with brokers that offer non-zero spreads. Thanks to the TradeAlgorithms.mqh library, you can set your Stop Loss and Take Profit right when you open a position. If you're looking for more options, you can download additional versions of the library here: Trade Algorithms.
During the tests shown below, we used the default input parameters for the Expert Advisor. Keep in mind that Stop Loss and Take Profit settings were not applied during these tests.
Fig. 1. Trade examples on the chart
Here are the testing results for 2014, focusing on the GBPJPY H8 timeframe:
Fig. 2. Chart of testing results
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