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MACDCandle Expert Advisor Using Candle-Color Changes

Article MQL5 code base
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Summary

This document describes a MetaTrader expert advisor that trades from the MACDCandle indicator. It generates a signal when a bar closes and the indicator’s candle color changes, making the indicator transition the entry trigger. The advisor requires the compiled indicator file to be installed in the platform’s indicators folder, and the document notes a supporting library for broker setups that permit nonzero spreads and simultaneous stop-loss and take-profit settings.

The page refers to chart examples and a test on USDJPY at the four-hour interval during 2014, but it gives no numerical performance measures or enough detail to assess robustness. The stated test used default advisor inputs and did not use stop-loss or take-profit levels. This limits what can be inferred about risk control and practical results; the described signal rule alone does not establish profitability across instruments or periods.

Key ideas

  • The advisor acts when a bar closes with a change in MACDCandle color.
  • The indicator’s compiled file is required for the advisor to run.
  • A supporting library addresses broker conditions involving spreads and order protection settings.
  • The page mentions a USDJPY four-hour test for 2014 but supplies no numerical performance evidence.
  • The referenced test used defaults and omitted stop-loss and take-profit levels.

Tags

ForexTechnical indicatorsBacktesting

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