Author: Forex-Experts
If you're looking to step up your trading game, the Exp_VolatilityQuality is a fantastic Expert Advisor (EA) designed for MetaTrader 5. This system harnesses the power of the VolatilityQuality indicator to generate trading signals. The magic happens when a bar closes and the indicator line changes color, giving you a clear entry point.
To get started, make sure you have the compiled indicator file VolatilityQuality.ex5 in your MetaTrader setup. Simply drop it into your <terminal_data_folder>/MQL5/Indicators directory.
One cool feature of this EA is its compatibility with brokers that offer a nonzero spread. Plus, it allows you to set your Stop Loss and Take Profit right at the moment you open a position. If you're interested in exploring more options, check out the Trade Algorithms library for additional resources.
For the tests shown below, we used the default input parameters of the EA. It's worth noting that neither Stop Loss nor Take Profit were utilized in these tests, which simplifies the analysis.
This EA originally started its journey in MQL4 and made its debut in the Code Base back on August 24, 2008, proving its longevity in the trading community.
Fig. 1. Trade examples on the chart
Here’s a look at the testing results for 2014 on the GBPJPY H4:
Fig. 2. Chart of testing results
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