Module of Trade Signals, based on Brain Trend1 indicator
Info
The Module of Trade Signals, based on Brain Trend1 indicator is a Library for MetaTrader 5 that a blue candle is a signal to open a long position, a red candle is a signal to open a short position. The signals are formed on the completed bars (candles).
Usage
This tool is typically used for trend following strategies across multiple currency pairs.
Platform
This Library works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Libraries folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Module of Trade Signals, based on Brain Trend1 indicator
1. Storage: Place library files in the MQL/Libraries directory to ensure they are accessible to your projects.
2. Implementation: Include the library in your code using the #import directive, ensuring you match the exact function names and parameters.
3. Compilation: Ensure the library is present in the directory before you compile your main EA or script, as the compiler links them during this phase.
4. Management: Keep libraries organized in sub-folders if you manage many custom functions to maintain a clean project structure.
Frequently Asked Questions
Q: What is a library file used for? A: Libraries store reusable code modules, allowing you to centralize common logic used by multiple EAs or indicators.
Q: Is a library executable? A: No, libraries are non-executable files containing functions; they must be imported into an EA, indicator, or script to function.
Q: Can I update a library while the platform is running? A: You should compile your EA or script after updating a library to ensure the latest code changes are integrated.
What this tool does
A blue candle is a signal to open a long position, a red candle is a signal to open a short position.
Typical Use Case
This Library excels in trend following on MetaTrader 5.
Compatible Platform & Setup
This Library works on MetaTrader 5. Place the file in the MQL5/Libraries folder and restart the terminal.
Description & Settings
Related: AS Q Trade Frequency Controller - another powerful library for MetaTrader 5 traders.
A blue candle is a signal to open a long position, a red candle is a signal to open a short position. The signals are formed on the completed bars (candles).
Also recommended: Asynchronous Institutional Trade Engine (Library) - similar library with strong performance on MetaTrader 5.
The following input parameters were used when testing:ATR period: 7;
Stochastic period: 9;
Timeframe: H4;
Symbol: GBPUSD;
Lot: 0.1;
Stop Loss, Take Profit, Trailing: not used.
To use this module of trade signals in , the braintrendsignal.mqh must be placed to
terminal_data_folder
\MQL5\Include\Expert\Signal\MySignals.
The module uses the indicator, the BrainTrend1.mq5 must be placed to
terminal_data_folder
\MQL5\Indicators.
Example of trades on the chart
History backtesting results starting from 2011:
History backtesting results
You may also like: To Close All Open Trades of Different Symbols - excellent alternative for library users on MetaTrader 5.
⚠ 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.