Skip to content
All library documents

Forex Trend-Color Reversal Signals and Test Conditions

Article MQL5 code base
Read the original

Summary

This Expert Advisor uses the ForexProfitBoost_2nb indicator to generate trades when its trend bars change color between blue and pink. It describes the signal as a directional change and requires the compiled indicator file to be installed in the platform’s indicator directory. A separate trading library is mentioned for compatibility with brokers that have nonzero spreads and allow stop loss and take profit settings when opening a position.

The document refers to test results for USDJPY on a six-hour chart in 2014, using the EA’s default inputs. However, it supplies no numerical performance figures in the text, and explicitly says stop loss and take profit were not used in those tests. The signal rules, indicator internals, transaction costs, and robustness across markets or periods are not explained. The cited test setup therefore offers limited evidence for judging whether color reversals form a reliable trading strategy.

Key ideas

  • The EA trades when the indicator’s bars switch between blue and pink.
  • Running the system requires the compiled indicator file.
  • The referenced test used USDJPY on a six-hour chart in 2014 with default settings.
  • Stop loss and take profit were absent from the described tests, and no numerical results are supplied.

Tags

ForexTechnical indicatorsBacktesting

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