If you're on the lookout for a reliable breakout trading system, you're in the right place! The Color QEMA Envelopes Digit System is designed to give you the edge you need in your trading journey.
This system generates signals based on the closing price of a bar. A clear signal will form when a colored bar appears, and the previous bar is either of a different color or not colored at all. This simple yet effective strategy can help you spot potential trading opportunities with ease.
To get started, you’ll need to have the compiled indicator file Color_QEMA_Envelopes_Digit_System.ex5. Simply save it to your <terminal_data_folder>\MQL5\Indicators directory.
One important thing to note is that the Expert Advisor (EA) utilizes the TradeAlgorithms.mqh library. This allows you to work with brokers that offer a nonzero spread and gives you the flexibility to set your Stop Loss and Take Profit levels right when you open a position. If you're interested in exploring more options, check out the Trade Algorithms library.
During the testing phase, we used the default input parameters for the EA with no Stop Loss or Take Profit settings applied. Below, you’ll see the results that were achieved during testing.
Fig. 1. Examples of deals on the chart
Here are the testing results for the year 2015, focusing on the EUR/USD on an H8 timeframe:
Fig. 2. Testing results chart
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