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ColorBears Histogram Color-Change Trading System

Article MQL5 code base
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Summary

This document describes an Expert Advisor that trades signals from the ColorBears indicator. It generates a signal when a bar closes and the indicator histogram changes color, making the strategy depend on confirmed bar-close changes rather than intrabar movement. The page refers to chart examples and a historical test on GBPJPY using the H12 timeframe in 2014.

The reported test used the Expert Advisor's default inputs and did not use stop-loss or take-profit levels. The document does not provide numerical performance results, position-sizing rules, or details about the signal's interpretation, so it is not enough to assess profitability or risk. Running the system also requires the compiled ColorBears indicator file, and the page mentions a supporting library for broker spread and order-protection compatibility.

Key ideas

  • The system creates a trade signal when the ColorBears histogram changes color at bar close.
  • The page cites a 2014 GBPJPY test on the H12 timeframe.
  • The described test used default inputs and did not include stop-loss or take-profit levels.
  • The Expert Advisor requires the compiled ColorBears indicator to operate.

Tags

ForexTechnical indicatorsBacktesting

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.