Directed Movement Candle Trading System
Info
The Directed Movement Candle Trading System is a Expert Advisor for MetaTrader 5 that a trading system that generates trading signals based on indicator candlestick colors. A buy signal is triggered when the indicator candlestick changes from blue to pink.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
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 Directed Movement Candle 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
A trading system that generates trading signals based on indicator candlestick colors.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis 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 Directed Movement Expert Advisor - another powerful expert for MetaTrader 5 traders.
A trading system that generates trading signals based on indicator candlestick colors.Also recommended: exp_directed_movement Expert Advisor - similar expert with strong performance on MetaTrader 5.
A buy signal is triggered when the indicator candlestick changes from blue to pink.
A sell signal is triggered when the indicator candlestick changes from pink to blue.
Installation Instructions:
Place the compiled files 'directed_movement_candle.ex5' and 'directed_movement.ex5' into the '
Note:
The 'tradealgorithms.mqh' library facilitates the use of Expert Advisors (EAs) with brokers offering non-zero spreads and the ability to set Stop Loss and Take Profit concurrently with opening a position.
Testing Details:
The default Expert Advisor input parameters were used for the following tests. Stop Loss and Take Profit were not utilized during these tests.
Figure 1: Example of historical trades on the chart.
Testing Results on GBPUSD H4 (2015 data):
Figure 2: Testing results chart.
You may also like: Automated Live Testing for Expert Advisors on Demo Accounts - 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 "1.00"
#property indicator_separate_window
#property indicator_buffers 5
#property indicator_plots 1
#property indicator_type1 draw_color_candles
#property indicator_color1 clrdeeppink,clrgray,clrdodgerblue
#property indicator_label1 "directed_movement_candle open;high;low;close".......
⚠ 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.