Want to trade following market parameters that work at all times and help you take advantage of the trends to increase your winning potential? How about try an EA that looks at moving averages and colors to buy or sell? MT4 has such an expert in the form of Traffic Light trend strategy based expert advisor.
How does Traffic Light trend strategy EA work?
The expert follows only one indicator, namely moving average, with a color system:
- Green, with exponential method, period 5, for Close
- Yellow, with Simple method, period 55, for Close
- Red, with Simple method, period 120, for Close
- Brown dot, for Exponential method, period 24, for Low
- Blue dot, for Exponential method, period 24, for High
As it follows the colors, the signal Sell is triggered by red-yellow-green, while buy is set by green-yellow-red.
Want to try another MT4 EA? Take one from the table!
Parameters of the Traffic Light trend strategy robot for MT4
MetaTrader 4 Traffic Light trend strategy EA comes with TP and SL parameters included, so that it may close a deal either at TP/SL or when the green and yellow MA intersect, following the parameter Close Profit.
You may also set the style of the trading, using the parameter called Style Trade, to give you the option to put the EA to trade aggressively or conservatively. Namely, to open a position when the currency price is in the corridor created by the blue and brown dotted lines or when it enters the corridor created by the red – yellow MA.
Traffic light Expert Advisor works best with the major currency pairs: EUR/GBP, EUR/USD, GBP/USD, according to the tests performed on the market in 2015, while the timeframe that the developers recommend is H1.