If you’re on the hunt for a reliable Expert Advisor (EA) for your MetaTrader 5 setup, look no further than the Center of Gravity Candle EA. This nifty tool is designed to help you capitalize on market movements by utilizing signals from the Center of Gravity Candles indicator. The magic happens when a bar closes and there's a shift in the candlestick color of the indicator, signaling potential trading opportunities.
To get this EA up and running, you’ll need the compiled indicator file CenterOfGravityCandles.ex5. Simply drop it into your terminal's terminal_data_folder\MQL5\Indicators directory, and you're good to go!
Pro Tip: The TradeAlgorithms.mqh library file is essential for using EAs with brokers that offer a nonzero spread. Plus, it allows you to set up your Stop Loss and Take Profit at the same time you open a position. If you're interested, you can download more versions of this library here: Trade Algorithms.
During our tests, we utilized the default input parameters for the EA. It's worth noting that neither Stop Loss nor Take Profit were applied during these tests.
Fig. 1. Examples of trades on the chart
Here are some testing results from 2015, specifically focusing on the EURUSD on the H6 timeframe:
Fig. 2. Testing results chart
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