If you're looking to enhance your trading strategy, the Exp_CronexChaikin EA might just be the tool you need. This Expert Advisor utilizes signals generated by the CronexChaikin oscillator to help you make informed trading decisions.
The magic happens when a bar closes and there's a change in the color of the cloud indicator. This visual cue can guide you to execute trades at the right moments.
To get started, make sure you place the compiled indicator file CronexChaikin.ex5 in your terminal's data folder under MQL5\Indicators. It’s a simple step that ensures the EA operates correctly.
Also, keep in mind that the TradeAlgorithms.mqh library is crucial for utilizing Expert Advisors, especially with brokers that offer nonzero spreads. This library allows you to set Stop Loss and Take Profit levels right when you open a position. You can grab more variations of this library at this link: Trade Algorithms.
During our testing, we used the default input parameters for the EA. Notably, Stop Loss and Take Profit weren’t utilized in these tests, which you should consider if you want to tweak your settings.
Figure 1: Trading history on the chart
Let’s take a look at the testing results for the year 2013 using the USDCAD on the H4 timeframe:
Figure 2: Testing results chart
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