Exp_CaudateXPeriodCandle_Tm_Plus – EA MetaTrader 5

A trading system based on the CaudateXPeriodCandle indicator signals with the possibility to set a fixed position holding time. The signal is formed when a bar is closing if there appears a caudate candlestick. Once position holding time exceeds a preset fixed limit, the position is immediately closed:

input bool   TimeTrade=true;      //Enabling position exit by time
input uint   nTime=240;           //Open position holding time in minutes

For the generated EA to operate correctly, the compiled CaudateXPeriodCandle.ex5 indicator file must be in the <terminal_data_directory>\MQL5\Indicators folder.

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.

Fig. 1. Examples of deals on the chart

Testing results for 2016 at GBPUSD H4:

Fig. 2. Testing results chart