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Published:
2015.04.10 16:09
Updated:
2016.11.22 07:32
\MQL5\Include\\MQL5\Indicators\
hlrsign.mq5 (7.91 KB)view

The Exp_HLRSign Expert Advisor is based on signals generated by the HLRSign semaphore arrow signal indicator.

The signal is formed when a bar is closing if the indicator has crossed the overbought or oversold level determined by the values of the Expert Advisor input parameters:

input uint HLR_UpLevel=80;      // Overbought level
input uint HLR_DnLevel=20;      // Oversold level

There are two algorithms for deals available in the Expert Advisor input parameters:

input Alg_Method Mode=MODE_OUT; // Breakthrough algorithm
  1. Make deals when entering the oversold or overbought zones;
  2. Make deals when exiting the oversold or overbought zones;

This Expert Advisor requires the compiled indicator file HLRSign.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

Fig. 1. Examples of deals on the chart

Testing results for 2014 at EURUSD H1:

Fig. 2. Testing results chart

Fig. 2. Testing results chart

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/12573

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