TrendContinuation Expert Advisor Uses Indicator Color Changes

Summary

This document describes an Expert Advisor that uses the TrendContinuation indicator to generate trade signals. It checks for a change in the indicator’s direction, identified by a color change, when a bar closes. The document also gives a setup note for placing the compiled indicator in the MetaTrader 5 indicators folder.

The reported historical test used default Expert Advisor inputs on EURUSD four-hour data for 2011. Stop loss and take profit were not used in that test. The document refers to charts of trade history and testing results but provides no numerical performance measures or detailed evaluation. It therefore explains a basic indicator-driven entry method, but does not establish profitability or describe risk controls. It also notes a broker-related limitation of the supporting trade library: it is intended for brokers with nonzero spreads that allow stop loss and take profit to be set together when opening a position.

Key ideas

• The Expert Advisor detects TrendContinuation direction changes through indicator color changes.
• Signals are evaluated at bar close.
• The document reports a EURUSD four-hour historical test for 2011 using default inputs.
• Stop loss and take profit were absent from the reported test.

Tags

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