If you're looking to boost your trading game, you're in the right place! The ColorXMACDCandle trading system is designed to help you capitalize on market movements with ease. This system generates signals right when a bar closes, giving you a heads-up for your next move.
The Expert Advisor (EA) employs two different methods to determine the market trend based on your chosen input value:
input TrendMode TMode=Cross; // Trend detection method
- When the signal line crosses over the histogram of XMACD, alongside a color change in the ColorXMACDCandle;
- When there’s a color shift in the ColorXMACDCandle candlesticks.
To get started, make sure you have the compiled indicator file colorxmacdcandle.ex5 saved in your terminal data folder at <terminal_data_folder>\MQL5\Indicators.
Keep in mind, the TradeAlgorithms.mqh library is a game-changer! It allows you to use EAs with brokers that offer a nonzero spread and gives you the flexibility to set Stop Loss and Take Profit right at the moment of opening a position. You can grab more variations of this library here: Trade Algorithms.
The default input parameters of the Expert Advisor were utilized during the tests presented below. Notably, both Stop Loss and Take Profit settings weren’t applied during these tests.
Fig. 1. Examples of trades on the chart
Now, let’s take a look at the testing results from 2015 on the EURUSD H8 pair:
Fig. 2. Chart of testing results
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