Hey there, fellow traders! If you're diving into the world of automated trading, you might want to check out the KWAN_NRP indicator. This nifty tool generates signals at the close of each bar, especially when the direction of the indicator shifts—basically, when the color changes.
To get your Expert Advisor (EA) up and running smoothly, make sure the compiled KWAN_NRP.ex5 indicator file is sitting pretty in the <terminal_data_directory>\MQL5\Indicators folder. It’s like the EA’s home base!
Also, a quick heads-up: the library file TradeAlgorithms.mqh is specifically tailored for EAs that work with brokers offering a nonzero spread. Plus, it allows you to set your Stop Loss and Take Profit levels simultaneously when opening a position. If you need more versions of this library, head over to Trade Algorithms.
In the tests we ran, we used the default input parameters for the EA. Just a note, we didn’t incorporate Stop Loss or Take Profit during the testing phase.
Fig. 1. Example trades on the chart
Now, let’s take a look at the test results for GBPJPY on the H4 timeframe over the year 2016:
Fig. 2. Testing results chart
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