Understanding the Exp_ColorStochNR Trading System
The Exp_ColorStochNR trading system is built around signals derived from the ColorStochNR oscillator. A trade signal is generated at the close of a bar, depending on the settings you choose in the input parameter Mode.
How It Works: Signal Generation Methods
Here are the different methods the algorithm uses to create trading signals:
- Oscillator breaking through the 50 level;
- Change in the direction of the oscillator;
- Change in the direction of the signal line;
- Signal line breakthrough by the oscillator;
- Signal line breaking through the 50 level.
Setup Instructions
To get started, simply place the ColorStochNR.ex5 compiled file into the terminal_data_folder\MQL5\Indicators directory.
For the tests shown below, the default input parameters for the Expert Advisor were used. Note that Stop Loss and Take Profit settings were not applied during these tests.
Testing Results
Fig. 1. History of trades on the chart.
Here are the testing results for 2011 using the AUDUSD H4 timeframe:
Fig. 2. Chart of testing results.
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