Exp_ColorSchaffMomentumTrendCycle
This EA trades based on the ColorSchaffMomentumTrendCycle custom indicator, which is a Schaff-style momentum oscillator with trend cycle smoothing. It opens buy positions when the oscillator rises above the high level and sell positions when it drops below the low level, with configurable position closing on opposite signals.
Open the interactive view (equity curve, symbol switch)Key facts
Backtest results (H1, about 1 year)
Not backtested yet — this EA could not be converted automatically.
Strategy analysis
The strategy is centered on the Schaff Momentum Trend Cycle indicator, which combines the difference between fast and slow Momentum periods with a cyclic smoothing algorithm, producing oscillator values in the 0-100 range. Entry conditions: a buy signal is generated when the indicator's Color buffer value exceeds 5 (corresponding to the oscillator being in the high zone above HighLevel=+60), confirmed when the previous bar's Color value is below 6; a sell signal is generated when Color is below 2 (oscillator in the low zone below LowLevel=-60), confirmed when the previous bar's Color value is above 1. Exit conditions: a buy signal simultaneously triggers closing of sell positions, and vice versa, while StopLoss and TakeProfit parameters provide additional risk exits. Position sizing supports five modes: fixed lot, percentage of free margin, percentage of balance, percentage of free margin after losses, and percentage of balance after losses. Money management is controlled by the MM parameter with a default of 0.1 lots, which is relatively conservative. The strategy only recalculates signals on new bars to avoid redundant trades, using the SignalBar parameter to specify the lookback bar index.
Strengths
- Uses the Schaff Momentum Trend Cycle indicator combining momentum with cyclic smoothing for more stable signals
- Supports multiple position sizing modes, flexibly adapting to different risk preferences
- Signals are only calculated on new bars, preventing redundant trades within the same bar
- Dual exit mechanism with both StopLoss/TakeProfit and signal-based reverse closing
- Independent buy/sell toggle switches allow flexible long-only or short-only operation
Weaknesses
- Depends on custom indicator via iCustom call; EA fails if the indicator file is missing
- Default StopLoss of 1000 points and TakeProfit of 2000 points are large, potentially leading to significant per-trade losses
- No spread filter; trades may open during high-spread conditions
- No position check before opening; may open duplicate positions in the same direction
- Signal logic relies on Color buffer magic numbers (5,6,2,1), making it poorly readable and hard to maintain
Possible improvements
- Add position check logic to prevent duplicate opening in the same direction
- Add spread filter to prohibit trading when spread is excessively wide
- Replace Color buffer magic numbers with meaningful named constants to improve code readability
Risk assessment
Overall risk: Medium
- Default 1000-point stoploss is large, posing significant per-trade loss risk
- Missing position check may cause duplicate same-direction positions leading to overexposure
- No spread filter may cause slippage losses during high-volatility periods
- Dependency on external custom indicator file causes initialization failure if missing
Evaluation scores
Parameters
| Parameter | Default | Description |
|---|---|---|
MM | 0.1 | Money management: lot or percentage |
MMMode | LOT | Lot sizing mode (free margin/balance/free margin minus floating loss/balance minus floating loss/fixed lot) |
StopLoss_ | 1000 | Stop loss in points |
TakeProfit_ | 2000 | Take profit in points |
Deviation_ | 10 | Maximum allowed slippage in points |
BuyPosOpen | true | Allow opening long positions |
SellPosOpen | true | Allow opening short positions |
BuyPosClose | true | Allow closing long positions |
SellPosClose | true | Allow closing short positions |
InpInd_Timeframe | PERIOD_H4 | Indicator calculation timeframe |
Fast_Momentum | 23 | Fast Momentum period |
Slow_Momentum | 50 | Slow Momentum period |
AppliedPrice | PRICE_CLOSE | Indicator applied price type |
Cycle | 10 | Trend cycle smoothing period |
HighLevel | +60 | High level threshold |
LowLevel | -60 | Low level threshold |
SignalBar | 1 | Signal lookback bar index |
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Backtests are historical simulations and do not guarantee future results. Not financial advice.