Hey fellow traders! Today, let’s dive into the world of automated trading with the Exp_CronexRSI, a powerful tool based on signals from the CronexRSI oscillator.
This expert advisor works its magic when a bar closes, particularly when there's a shift in the cloud color of the indicator. It’s a nifty little feature that can help you catch those crucial market movements!
To get started, make sure to place the compiled indicator file, CronexRSI.ex5, into your terminal’s data folder under MQL5/Indicators. This is key for ensuring the EA functions correctly.
Also, a quick heads-up: the TradeAlgorithms.mqh library file is essential if you’re looking to work with brokers that offer a nonzero spread. It allows you to set Stop Loss and Take Profit right when opening a position, which can be a game-changer in your trading strategy. You can find more variations of this library through this link: Trade Algorithms.
For the tests displayed below, we used the default input parameters for the expert advisor, and interestingly, we didn’t incorporate Stop Loss or Take Profit. It’s fascinating to see how it performs under these conditions!
Fig. 1 The instances of history of deals on the chart
Now, let’s take a peek at the testing results for 2013 when trading XAUUSD on the H4 timeframe:
Fig. 2. Chart of testing results
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