The Exp_RangeExpansionIndex EA is based on the signals generated by the RangeExpansionIndex oscillator.
The signal is formed when a bar is closing if the indicator has broken through the overbought or oversold zone determined by the values of expert's input parameters:
input uint Up_Indicator_level=+60; // Upper overbought level input uint Dn_Indicator_level=-60; // Lower oversold level
This Expert Advisor requires the compiled indicator file RangeExpansionIndex.ex5 in order to run. Place it to <terminal_data_folder>\MQL5\Indicators.
Note that the TradeAlgorithms.mqh library file allows using Expert Advisors with brokers who offer nonzero spread and the option of setting Stop Loss and Take Profit together with position opening. You can download more variants of the library at the following link: Trade Algorithms.
Default Expert Advisor's input parameters have been used during the tests shown below. Stop Loss and Take Profit have not been used during the tests.
Fig. 1. Examples of deals on the chart
Testing results for 2014 at EURUSD H8:
Fig. 2. Testing results chart
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/12529
The Acceleration/Deceleration Indicator (AC) measures acceleration and deceleration of the current driving force.Average Directional Movement Index (ADX)
The Average Directional Movement Index Indicator (ADX) helps to determine if there is a price trend.