If you're on the lookout for a reliable trading system, you might want to check out the Extrem_N indicator. This system generates trade signals based on some nifty price action patterns, specifically when a red line pops up after a green one has vanished—or vice versa. It’s all about timing your entries and exits just right!
To get started, you'll need to have the compiled indicator file, Extrem_N.ex5, saved in your <terminal_data_folder>\MQL5\Indicators directory. This setup is crucial for the Expert Advisor (EA) to function properly.
One thing to keep in mind is that the TradeAlgorithms.mqh library file enables the use of Expert Advisors with brokers that offer a nonzero spread. Plus, it allows you to set your Stop Loss and Take Profit right when you open a position, which can be a game changer in your trading strategy. You can explore more variations of this library here: Trade Algorithms.
The tests featured below utilized the default input parameters of the Expert Advisor, and for these tests, we opted not to use Stop Loss and Take Profit.
Fig. 1. Examples of trades on the chart
Now, let’s dive into the testing results for 2015 with the EURUSD on the H6 timeframe:
Fig. 2. Chart of testing results
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