If you’re looking to level up your trading game, the Exp_ColorBBCandles EA is definitely worth a closer look. This Expert Advisor is built on the ColorBBCandles indicator, designed to provide you with clear signals for entering trades.
So how does it work? A trading signal is generated at the close of a candlestick. If the candlestick is painted in a trending color, it indicates a potential trade, but only if the previous candlestick was either colorless or showed an opposing trend. This makes it a nifty tool for catching those key market movements.
Fig. 1. Trade history instances on the chart.
When it comes to testing, this EA has shown promising results. Take a look at the testing results from 2011 for the EURCHF on the H4 timeframe:
Fig. 2. Testing results charts.
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