Exp_ColorBears - MetaTrader 5 Expert | Forex Indicators Download - MT4/MT5 Resources

Signal-based trading system Colorful Bear indicator. If the color of the indicator histogram changes, a signal is formed when the bar closes.

This Expert Advisor requires the compiled indicator file ColorBears.ex5 to run. Place it in <terminal data folder>\MQL5\Indicators.

Please note that the TradeAlgorithms.mqh library file allows trading Expert Advisors with non-zero spreads and the option to set Stop Loss and Take Profit along with opening positions with brokers that offer the following services. You can download more variants of this library via the following link: Trading Algorithms .

The input parameters of the default Expert Advisor were used in the test shown below. Stop Loss and Take Profit were not used during testing.

Figure 1. Example of trade on chart

2014 GBPJPY H12 test results:

Figure 2. Test result chart

Attachment download

📎 exp_colorbears.mq5 (8.59 KB)

📎 smoothalgorithms.mqh (130.19 KB)

📎 tradealgorithms.mqh (60.9 KB)

📎 colorbears.mq5 (8.15 KB)

Source: MQL5 #14314