The Exp_XMACandles Expert Advisor is based on signals of the XMACandles indicator. The signal is formed when a bar is closing if there is change in candlestick color of the indicator.
This Expert Advisor requires the compiled indicator file XMACandles.ex5 in order to run. Place it to terminal_data_folder\MQL5\Indicators.
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 trades on the chart
Test results for 2015 at EURUSD H4:
Fig. 2. Testing results chart
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/16649
Zigzag2_R with its values displayed as fractal labels.ZigZag_NK_Color_Price
ZigZag indicator with price labels of the ZigZag peak values.