If you’re looking to enhance your trading strategy, the ColorMomentum_AMA Expert Advisor (EA) could be just what you need. This EA is designed based on the direction changes of the ColorMomentum_AMA indicator, providing you with timely signals to execute trades. The magic happens at the close of each bar when the indicator shifts direction, signaling potential trading opportunities.
To get started, simply place the ColorMomentum_AMA.ex5 file into your terminal_data_folder\MQL5\Indicators directory. It’s a straightforward process that will allow you to integrate this powerful tool into your trading setup.
For the tests outlined below, we used the default input parameters for the Expert Advisor. Notably, we did not apply Stop Loss or Take Profit levels during these tests, which may impact the results.
Fig. 1. The instances of history of deals on the chart.
Let’s dive into the testing results for 2011 using the EURAUD currency pair on the H4 timeframe:
Fig. 2. Chart of testing results
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