SignalHamToEA Signal Indicator Trader MT4
- Experts
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Naoto Shimoda
FX.Hamrat - MetaTrader 4/5 indicator and Expert Advisor developer based in Japan.
Over 10 years of trading experience (discretionary and systematic), and 90+ MT4/MT5 programs built so far - including 30+ custom-made projects for individual traders. - Version: 1.1
- Activations: 10
SignalHamToEA reads a signal indicator that draws arrows on the chart and places orders exactly as the arrows say. No programming is needed. Enter the indicator name and the buffer numbers that hold the buy and sell arrows, and it runs.
The EA has no trading method of its own. Whether it enters is decided by the arrows of the indicator you connect, so you can try as many signal tools as you like.
Four ways to read signals
- Buy/sell buffers (arrows), the basic mode
- One buffer that turns + / - (trend tools that output 1 / -1)
- Two-line cross (moving averages, MACD)
- Arrow objects drawn on the chart by indicators without buffers
Not sure about the buffer numbers? At start the EA scans the last 500 bars and lists the buffers that look like arrows, with the time of the last one. Compare the time with the arrows on the chart and you know which is buy.
Filter signal
Use another indicator or timeframe as a filter and enter only when both agree, for example direction from an H1 tool and entries from M5 arrows.
Exits and no-entry conditions
Take profit and stop loss in pips or ATR multiples, breakeven, trailing stop with a step, partial close, close or reverse on an opposite signal. No-entry filters for spread, hours (Japan time or server time), weekdays and a daily loss limit.
Backtest your signal tool
The EA runs in the Strategy Tester. Connect a signal tool, run a long period, and you see how trading its arrows would have worked.
The screenshot shows e-DowgatorPro2 (arrows on Dow Theory trend changes) on USDJPY H1 for three years. It rose to +74,000 JPY in the first ten months, and ended at +328 JPY over the full three years. Results change a lot with the period, even with the same settings, so test your signal tool over a long period before live use.
Conditions: USDJPY H1, Oct 2023 - Oct 2026, fixed 0.1 lot, TP ATR x2, SL ATR x1.5, MT5 backtest. Results depend on the connected signal tool and settings. Future profit is not guaranteed.
The default setting uses the two-line cross of the standard MACD, so you can see the EA working right after you attach it.
