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TrendMagic Expert Advisor: Trades on Indicator Direction Changes

Article MQL5 code base
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Summary

The document describes an Expert Advisor that uses the TrendMagic indicator and makes a trade decision when the indicator changes direction. It notes that the indicator file must be available in the platform’s indicators folder for the EA to operate. It also mentions a library intended to support brokers with nonzero spreads and to allow stop-loss and take-profit settings alongside position opening.

The document refers to test results for XAUUSD on a four-hour chart in 2013, using the EA’s default inputs and no stop loss or take profit. It supplies no numerical performance metrics or enough detail to assess the testing method, costs, or robustness. The described results therefore offer limited evidence, and the direction-change rule alone does not specify broader position sizing or risk controls.

Key ideas

  • The Expert Advisor bases trade decisions on changes in the TrendMagic indicator’s direction.
  • The compiled TrendMagic indicator must be installed for the EA to work.
  • The described historical test used XAUUSD on a four-hour chart in 2013 with default inputs.
  • The test omitted stop loss and take profit, and the document gives no numerical performance measures.

Tags

Technical indicatorsTrend followingBacktestingCommodities

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