Exp_ColorSchaffMomentumTrendCycle - MetaTrader 5 Expert

Exp_ColorSchaffMomentumTrendCycle EA trades based on changes in the Color Schaff Momentum Trend Cycle oscillator position relative to overbought and oversold levels. If there is a horizontal break, a signal is formed on the close of the bar.

This Expert Advisor requires the compiled indicator file ColorSchaffMomentumTrendCycle.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 H4 test results:

Figure 2. Test results chart

Attachment download

📎 tradealgorithms.mqh (60.9 KB)

📎 colorschaffmomentumtrendcycle.mq5 (11.06 KB)

📎 exp_colorschaffmomentumtrendcycle.mq5 (6.58 KB)

Source: MQL5 #13463