Trading signals module based on LeManSignal indicator - MetaTrader 5 library - MT4/MT5 resources

The signal is formed at the close of the bar. The color point of the Lerman Signal Company indicator serves as a market entry signal.

Place the LeManSignal.ex5 compiled file into terminal_data_folder\MQL5\Indicators.

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

2011 NZDUSD H4 test results:

Figure 2. Test result graph

Since smoothing by the number of existing modules (basic one + one additional module) is performed during the "vote" calculation, the threshold should be indicated taking into account this fact. Therefore, after creating an Expert Advisor using the MQL5 Wizard, the Signal_ThresholdOpen and Signal_ThresholdClose values ​​must be set to 40=(0+80)/2 and 20=(0+40)/2 respectively.

Attachment download

📎 lemansignal.mq5 (6.04 KB)

📎 expm_lemansignal.mq5 (7.48 KB)

📎 lemansignal.mqh (11.7 KB)

Source: MQL5 #835

Trading signals module based on the LeManSignal indicator - Important points before using the MetaTrader 5 library

This page has been supplemented with structured instructions, focusing on the use of foreign exchange indicators, MT4/MT5 platform compatibility, testing procedures and risk control. Before downloading or deploying, it is recommended to first determine whether it is consistent with your own variety, cycle and account environment.

Suitable for who to use

• Users who want to quickly screen foreign exchange indicators and are willing to do simulation verification first.
• People who need to compare MT4/MT5 EAs, indicators, scripts or source code projects.
• Traders who wish to record backtests, parameters and risk boundaries before placing a trade.

Testing and risk control suggestions

• First verify the default parameters in the strategy tester or demo account, and then adjust the symbol, period, spread and trading period one by one.
• Scalping, grid, martin, and high-frequency strategies should focus on observing maximum drawdowns, consecutive losses, slippage, and trading frequency.
• It is not recommended to run any document directly on the real disk. At least observe the simulated disk performance for 2-4 weeks first.

FAQ

Can MT4 and MT5 be used interchangeably?
Usually cannot be used directly. EX4/MQ4 corresponds to MT4, EX5/MQ5 corresponds to MT5, and the source code needs to be compiled in the corresponding MetaEditor.

Is this resource guaranteed to be profitable?
cannot. EAs, indicators and scripts can only be used as trading tools, and the results depend on parameters, market environment, spreads, slippage and risk control.

What else can I continue to watch?
Forex EA download , foreign exchange indicator download , EA evaluation , MQL5 CodeBase .

English Search Notes

This page is also optimized for English search intent around Trading signals module based on LeManSignal indicator - MetaTrader 5 library . Related search terms include: Forex indicator, MT4 indicator, MT5 indicator. Test any Forex EA, Expert Advisor, MT4/MT5 indicator, script or MQL source code with historical data and a demo account before live trading.