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Combining Three Color-Change Indicators in a Trade-Sizing Expert Advisor

Article MQL5 code base
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Summary

The document describes an Expert Advisor that runs three independent trading systems based on the Skyscraper_Fix, ColorAML, and X2MACandle indicators. Each system generates a signal after a bar closes when its indicator changes color, representing a change in trend. Inputs are grouped by indicator, and traders can disable the other systems to configure one system separately. The EA can also adjust the next trade's volume based on the prior results of that system.

The cited test setup uses EURJPY on a six-hour chart for 2017 and the EA's default inputs. Stop loss and take profit were not used in those tests. The text mentions charts of trades and test results but supplies no numerical performance measures, so it does not establish profitability or robustness. It also depends on the corresponding compiled indicator files being available to the trading platform.

Key ideas

  • The EA combines three separate systems based on Skyscraper_Fix, ColorAML, and X2MACandle.
  • Each system signals after a bar closes and its indicator changes color.
  • Inputs allow each indicator system to be enabled or disabled independently.
  • Trade volume can depend on the results of the previous trades for that system.
  • The cited EURJPY test used a six-hour chart in 2017 and omitted stop loss and take profit, with no numerical results stated.

Tags

ForexTrend followingTechnical indicatorsPosition sizingBacktesting

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