Indicator-Based Trading System with Cloud Color Change Signals
Info
The Indicator-Based Trading System with Cloud Color Change Signals is a Expert Advisor for MetaTrader 5 that trading system utilizing an indicator where signals are generated upon a cloud color change at the close of a bar. Installation Instructions:Place the compiled ibs_rsi_cci_v4.
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 Indicator-Based Trading System with Cloud Color Change Signals
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 an indicator where signals are generated upon a cloud color change at the close of a bar.
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: Tick Scalper Helper: Tick Chart and One-Click Trading Panel for MT5 - another powerful expert for MetaTrader 5 traders.
Trading system utilizing an indicator where signals are generated upon a cloud color change at the close of a bar.Also recommended: Basket Pair Closer: Efficiently Close Trading Positions - similar expert with strong performance on MetaTrader 5.
Installation Instructions:
Place the compiled ibs_rsi_cci_v4.ex5 file into the \
Expert Advisor Functionality:
The exp_fractal_adx_cloud.ex5 expert file includes the fractal_adx_cloud.ex5 indicator as a resource. This means the indicator does not need to be present in the terminal folder for the compiled EA to function, as the necessary code has been integrated into the EA itself.
Indicator Resource Integration:
The indicator executable file (ibs_rsi_cci_v4.ex5) is embedded as a resource at the global scope using `#resource \indicators\ibs_rsi_cci_v4.ex5`. The path to this indicator within the oninit() function has been updated accordingly:
//---- getting handle of the ibs_rsi_cci_v4 indicator inpind_handle=icustom(symbol(),inpind_timeframe,"::indicators\ibs_rsi_cci_v4",ibsperiod,matype,rsiperiod,rsiprice,cciperiod,cciprice,porog,matype_vkwb,rangeperiod_vkwb,smoothperiod_vkwb);
Trade Execution:
The tradealgorithms.mqh library file enables the use of expert advisors with brokers offering non-zero spreads and the ability to set stop loss and take profit concurrently with position opening.
Testing Parameters:
The following test results used the default expert advisor input parameters. Stop loss and take profit were not utilized during these tests.
Fig. 1. Examples of deals on the chart
Testing Results for 2015 on GBPUSD H6:
Fig. 2. Chart of testing results
Testing Results for 2026 on GBPUSD H6:
You may also like: CME Equity Index Futures Holiday Calendar and Trading Halt Automation - excellent alternative for expert users on MetaTrader 5.
Source Code
/.......
⚠ 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.