Are you ready to take your trading to the next level? Meet the Exp_ColorJJRSX, a powerful Expert Advisor designed for MetaTrader 5 that leverages signals from the ColorJJRSX oscillator. This EA generates signals based on the closing bars, specifically when there's a change in both the indicator direction and color.
To get started, you'll need the compiled file for the ColorJJRSX indicator, which you can easily place in your terminal_data_folder\MQL5\Indicators directory.
One important thing to note is that the TradeAlgorithms.mqh library file is essential for using Expert Advisors with brokers that offer a nonzero spread. This library also 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 additional variants of the library here: Trade Algorithms.
The tests outlined below utilized the default input parameters for the Expert Advisor, and it's worth mentioning that neither Stop Loss nor Take Profit were employed during these tests.
Figure 1. The instances of history of deals on the chart
Let's dive into the testing results from 2013 on the USDJPY H4 timeframe:
Figure 2. Chart of testing results
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