A buy position is opened at the intersection of the price and the support level. The bar should close above the level, and the previous bar should be opened above the level and cross the level by its shadow or close exactly at the level. The opening of a sell position goes quite the opposite way round.
Stop Loss and Take Profit are set at the support/resistance levels located below/above the entry level. If the Stop Loss and Take Profit are so close that it is impossible to open a position, an attempt is made to open a position with a Stop Loss at the second support/resistance level and Take Profit at the third resistance/support level.
When the nearest support/resistance level is reached (if the Take Profit is situated further), the Stop Loss of the position is moved to the opening price level of the position plus the spread (the function can be disabled).
The image shows the performance of the Expert Advisor in the strategy tester's visual mode.
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/1054
The GMMA Long indicator converted into a histogram for a better visualization.SpearmanStack_X20 (SpearmanRankCorrelation indicator threads)
Twenty lines of the Spearman's Rank Correlation indicator in one window