If you’re on the lookout for a reliable trading system, let me introduce you to the XPeriodCandle indicator. This handy tool helps you identify trading signals based on the closing of bars, especially when there’s a change in trend direction, which is indicated by the color of the candlesticks.
To ensure the smooth operation of your EA (Expert Advisor), make sure the compiled XPeriodCandle.ex5 file is placed in your <terminal_data_directory>\MQL5\Indicators folder. This is crucial for the EA to function properly.
Additionally, the TradeAlgorithms.mqh library file enhances your trading experience by enabling you to use Expert Advisors with brokers that offer a nonzero spread. It also allows you to set your Stop Loss and Take Profit right when you open a position. You can check out more variants of this library here: Trade Algorithms.
During the tests below, we used the default input parameters for the Expert Advisor, and it’s worth noting that neither Stop Loss nor Take Profit were applied in these tests.
Fig. 1. Examples of deals on the chart
Here’s a look at the test results for GBP on the H4 timeframe for the year 2016:
Fig. 2. Testing results chart
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