If you're looking to boost your trading game, you might want to check out the Karacatica indicator. This trading system generates signals right at the close of a bar whenever a colored indicator arrow pops up, guiding you on your trading decisions.
To get started, you’ll need to use the compiled indicator file Karacatica.ex5. Just save it in your <terminal_data_folder>\MQL5\Indicators directory, and you’re good to go!
One thing to keep in mind is that the TradeAlgorithms.mqh library file is key for using Expert Advisors with brokers that offer a nonzero spread. Plus, it allows you to set your Stop Loss and Take Profit right when opening a position. If you’re interested, you can download more variations of the library here: Trade Algorithms.
The tests below were conducted using the default input parameters of the Expert Advisor. Notably, neither Stop Loss nor Take Profit was utilized during these tests.
Fig. 1. Examples of trades on the chart
Here’s a look at the testing results for 2015, specifically for GBPJPY on the H4 timeframe:
Fig. 2. Chart of testing results
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