Exp_ColorLeManTrend
This EA trades based on the ColorLeManTrend indicator, which uses three moving averages (Min/Mid/Max) smoothed by an EMA to determine trend direction. It opens buy positions when the indicator's up-line crosses above the down-line and sell positions on the opposite crossover, while providing configurable permissions for entry and exit. Positions are managed with fixed Stop Loss and Take Profit levels in points.
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 a trend-following system based on the ColorLeManTrend indicator, whose core concept uses crossovers of three moving average groups (periods 13/21/34) smoothed by an EMA (period 3) to determine trend direction. Entry conditions: a buy signal is generated when UpValue[1]>DnValue[1] and the previous bar's UpValue[0]<=DnValue[0], meaning the up-line has just crossed above the down-line; conversely, a sell signal occurs when the up-line crosses below the down-line. Exit conditions consist of two parts: automatic closing on trend reversal (long positions close when a sell signal appears, short positions close when a buy signal appears), and fixed stop loss (1000 points) and take profit (2000 points) for risk management. Position sizing is controlled via the MM parameter: negative values are used directly as lot size, while positive values represent a share of the deposit to calculate lot size. Money management relies on the TradeAlgorithms.mqh library functions, supporting both deposit-proportion and fixed-lot approaches, but lacks dynamic position adjustment mechanisms such as scaling in or out.
Strengths
- Clear strategy logic based on moving average crossover, a well-validated trend-following approach
- Comprehensive entry and exit permission controls, allowing flexible long/short direction configuration
- New bar detection mechanism (IsNewBar) prevents repeated entries within the same bar
- Explicit stop loss and take profit parameters provide defined risk control
- Supports deposit-proportion dynamic lot sizing for better money management
Weaknesses
- Relies solely on a single indicator signal without multi-dimensional confirmation or filtering, prone to false signals
- No trading session filter, spread filter, or market condition check, which may be disadvantageous during high volatility or wide spreads
- Fixed stop loss (1000 pts) and take profit (2000 pts) without ATR-based dynamic adjustment
- Lacks maximum position limit and consecutive loss protection mechanisms
- Negative MM value meaning lot size is counterintuitive and error-prone for users
Possible improvements
- Add ATR-based dynamic stop loss/take profit and volatility filtering to avoid trading in low or extreme volatility conditions
- Add spread filter, trading session restrictions, and maximum consecutive loss protection to improve strategy robustness
- Add multi-timeframe confirmation or additional indicator filters (e.g., RSI, ADX) to reduce false signals
Risk assessment
Overall risk: Medium
- Single indicator signal without multi-dimensional confirmation may cause frequent false entries and consecutive losses in ranging markets
- Fixed stop loss/take profit without volatility adaptation may result in frequent stops during high volatility periods
- No maximum position limit or drawdown protection, which could lead to significant losses during extreme market conditions
Evaluation scores
Parameters
| Parameter | Default | Description |
|---|---|---|
MM | -0.1 | Money management ratio or fixed lot size |
StopLoss_ | 1000 | Stop loss in points |
TakeProfit_ | 2000 | Take profit in points |
Deviation_ | 10 | Maximum allowed slippage |
BuyPosOpen | true | Whether to allow opening long positions |
SellPosOpen | true | Whether to allow opening short positions |
BuyPosClose | true | Whether to allow closing long positions |
SellPosClose | true | Whether to allow closing short positions |
InpInd_Timeframe | PERIOD_H4 | Indicator timeframe period |
Min | 13 | Shortest MA period |
Midle | 21 | Middle MA period |
Max | 34 | Longest MA period |
PeriodEMA | 3 | EMA smoothing period |
SignalBar | 1 | Bar index for entry signal |
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Backtests are historical simulations and do not guarantee future results. Not financial advice.