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SMI Cloud Color-Change Signals for GBPUSD H4 Trading

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Summary

This document describes an Expert Advisor that trades when the SMI_Correct indicator’s cloud changes color. It evaluates the signal at bar close, so a color transition triggers the trading decision only after the bar has finished. The advisor depends on the separately compiled indicator being installed in the platform’s indicators folder.

The document reports a historical test on GBPUSD four-hour bars for 2015, using the advisor’s default inputs. Stop loss and take profit were disabled in that test. It refers to deal history and a results chart, but provides no numerical performance figures or details about costs, exposure, drawdowns, or validation outside that period. The description therefore explains a basic indicator-driven entry method, but the evidence shown is too limited to establish whether it is profitable or robust.

Key ideas

  • The advisor generates a trading signal when the SMI_Correct cloud changes color.
  • It checks for a color change when a bar closes.
  • The compiled SMI_Correct indicator must be installed for the advisor to run.
  • The reported GBPUSD H4 test covers 2015 and omits stop loss and take profit.
  • The document provides no numerical performance statistics or broader validation.

Tags

ForexTechnical indicatorsBacktesting

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