The Exp_ColorZerolagRSIOSMA Expert Advisor is based on the ColorZerolagRSIOSMA histogram change of direction. The signal is formed when a bar is closing if there is a change in the oscillator direction.
This Expert Advisor requires the compiled indicator file ColorZerolagRSIOSMA.ex5 in order to run. Place it in <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. Trade examples on the chart
Testing results for 2014 on GBPJPY H4:
Fig.2. Testing results chart
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/13239
The BollingerBands_b indicator with the timeframe selection option available in the input parameters.ColorZerolagRSIOSMA
Smoothed ColorZerolagRSI indicator rate of change represented as a colored histogram.