Color Metro DeMarker Trend Trading System
Info
The Color Metro DeMarker Trend Trading System is a Expert Advisor for MetaTrader 5 that trading system utilizing the color metro demarker indicator. The trading signal is generated when a bar closes and there is a change in the cloud color.
Usage
This tool is typically used for trend following strategies across multiple currency pairs.
Platform
This Expert Advisor works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Experts folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Color Metro DeMarker Trend Trading System
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
Trading system utilizing the Color Metro DeMarker indicator.
Typical Use Case
This Expert Advisor excels in trend following on MetaTrader 5.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 5. Place the file in the MQL5/Experts folder and restart the terminal.
Description & Settings
Related: Exp Color BB Candles Expert Advisor - another powerful expert for MetaTrader 5 traders.
Trading system utilizing the Color Metro DeMarker indicator.The trading signal is generated when a bar closes and there is a change in the cloud color.
Also recommended: Exp Color X2 MA-Parabolic Indicator - similar expert with strong performance on MetaTrader 5.
This Expert Advisor requires the compiled indicator file colormetro_demarker.ex5. Place this file in the terminal_data_directory\mql5\indicators folder.
The tradealgorithms.mqh library file enables the Expert Advisor to function with brokers that offer non-zero spreads and allow setting stop loss and take profit concurrently with opening a position.
Default Expert Advisor input parameters were used for the tests presented. Stop loss and take profit were not utilized during these tests.
Testing results for 2014 on GBPJPY H8 timeframe are available.
Example trade on the chart.
Chart of testing results.
You may also like: Expert Color Non-Lag Dot MA CD - excellent alternative for expert users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property version "1.10"
#property indicator_separate_window
#property indicator_buffers 3
#property indicator_plots 2
#property indicator_type1 draw_filling
#property indicator_color1 clrdodgerblue,clrred
#property indicator_style1 style_solid.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.