If you're looking to enhance your trading game, the Exp_Bear_Bulls_Power Expert Advisor is a solid choice, especially for MetaTrader 5 users. This EA operates based on the Bear_Bulls_Power indicator, specifically focusing on color changes in the indicator's histogram.
The signal triggers when a bar closes and there's a color shift in the histogram. It's a nifty little tool for capturing market movements!
To get started, you’ll need to install the compiled indicator file Bear_Bulls_Power.ex5. Just drop it into your terminal_data_folder\MQL5\Indicators, and you’re good to go.
One important feature of this EA is its compatibility with the TradeAlgorithms.mqh library. This is great for traders using brokers with a nonzero spread. Plus, it allows you to set both Stop Loss and Take Profit right when you open a position. If you're interested, you can find more versions of this library at the following link: Trade Algorithms.
During our tests, we used the EA's default input parameters, and it's worth noting that neither Stop Loss nor Take Profit were utilized in these tests.
Fig1. Examples of deals on the chart
Here’s a look at the testing results for the year 2015, specifically on the EURUSD H4 timeframe:
Fig.2. Chart of testing results
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