Skip to content
All library documents

Trading Indicator Color Changes at Bar Close on GBPJPY

Article MQL5 code base
Read the original

Summary

This document describes an Expert Advisor that generates a trading signal when the i4_DRF_v3 indicator histogram changes color as a bar closes. It is an indicator-driven rule: the EA reads the color transition at the completed bar and forms a signal, with the supplied description naming GBPJPY on the four-hour chart as the tested market and interval. The EA depends on a separately compiled indicator file, and a supporting trade-algorithm library is mentioned for broker spreads and simultaneous stop-loss and take-profit handling.

The document refers to test results for 2015, but the available text gives no performance statistics or interpretation of the results. It states that the shown tests used default inputs and did not use stop-loss or take-profit settings. As a result, it provides little basis for assessing robustness, costs, drawdowns, or live suitability; the color-change rule is the main transferable detail.

Key ideas

  • The EA forms a signal when the indicator histogram changes color on a completed bar.
  • The described test uses GBPJPY on a four-hour chart and references 2015 results.
  • The EA requires a separately compiled indicator, while a helper library is described for broker and order protection features.
  • The cited test used default inputs without stop-loss or take-profit, and no numerical performance evidence is supplied.

Tags

ForexTechnical indicatorsBacktestingExecution

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