The Exp_ColorSchaffMFITrendCycle Expert Advisor is based on the ColorSchaffMFITrendCycle oscillator change of position relative to the overbought and oversold levels. The signal is formed when a bar is closing if there is a level breakthrough.

This Expert Advisor requires the compiled indicator file ColorSchaffMFITrendCycle.ex5 in order to run. Place it in <terminal_data_folder>\MQL5\Indicators.

Note that the TradeAlgorithms.mqh library file allows using Expert Advisors with brokers who offer nonzero spread and the option of setting Stop Loss and Take Profit together with position opening. You can download more variants of the library at the following link: Trade Algorithms.

Default Expert Advisor’s input parameters have been used during the tests shown below. Stop Loss and Take Profit have not been used during the tests.

Alternative: Interpreter - behavioral design pattern - library MetaTrader 5

Fig.1. Trade examples on the chart

Testing results for 2014 on USDJPY H4:

Fig.2. Testing results chart

Exp_ColorSchaffMFITrendCycle – expert for MetaTrader 5

📈 ROBOTFX MetaTrader Expert Advisors and Indicators to maximize profits and minimize the risks

Similar MetaTrader Trading Tools:

MetaCOT 2 CFTC ToolBox (Set of… Contents GENERAL PROVISIONS Brief description Installing the libraries and indicators Several indicators in one window Exporting CFTC reports to CSV…
Function library and Experts for… The algorithm for maintaining and closing a position is known to be almost more important that the rules for opening…
Visual Order Processing - EA… Order_EA is a simple visual oriented program that uses drag & drop scripts to control order processing. Take Profit and…
MACD Sample - EA MetaTrader 5 The MACD Sample EA is included in the standard pack of the MetaTrader 5 client terminal and is an example…
MQL Plus Enhanced Debugging… Features Features three domains of functionality. - Debugging, Tracing and Performance measurments - Simple to use "Print any variable" to…
MQL5 Wizard - Trade Signals… The MQL5 Wizard allows creating ready-made Expert Advisors based on the Standard library classes delivered together with the client terminal…
MQL5 Wizard - Trade Signals… The MQL5 Wizard allows creating ready-made Expert Advisors based on the Standard library classes delivered together with the client terminal…
MQL5 Wizard - Trade Signals… The MQL5 Wizard allows creating ready-made Expert Advisors based on the Standard library classes delivered together with the client terminal…