Hey fellow traders! Today, let's dive into the Exp_CCI_Woodies, an Expert Advisor (EA) designed for MetaTrader 5 that can help you navigate the markets with ease.
This EA leverages the CCI_Woodies indicator, making trading decisions based on the color changes of the indicator's cloud. The magic happens when a bar closes, signaling potential trading opportunities when the cloud color shifts. Plus, this EA even has the option to trade against the trend, which can be a game-changer in certain market conditions:
input bool Invert=false; //Trade against a trend
To get started, make sure you have the compiled indicator file CCI_Woodies.ex5 saved in your <terminal_data_folder>\MQL5\Indicators directory. This is crucial for the EA to function properly.
It’s also worth mentioning that the TradeAlgorithms.mqh library file enables you to use Expert Advisors with brokers that provide a nonzero spread. Plus, you can set your Stop Loss and Take Profit levels right when you open a position. If you want to explore more options, you can check out additional variants of the library here: Trade Algorithms.
In the tests below, we used the default input parameters for this Expert Advisor. Interestingly, neither Stop Loss nor Take Profit was implemented during these tests, making the results even more intriguing.
Fig.1. Examples of trades on the chart
Now, let’s take a look at the testing results for the year 2014 on the EURUSD H6:
Fig.2. Charts of testing results
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