The Expert Advisor drawn on the basis of the change of direction of the ColorMomentum_AMA indicator. A signal to perform a deal is formed at bar closing when the indicator changes direction.
Place ColorMomentum_AMA.ex5 compiled file to the terminal_data_folder\MQL5\Indicators.
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. The instances of history of deals in the chart.
Testing results for 2011 at EURAUD H4:
Fig. 2. Chart of testing results
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/1348
The trend indicator drawn on the basis of the Bollinger Bands.Delta ZigZag
Delta ZigZag defines the reversal on a minimal height of the swing and also identifies trend on breakthrough of local minimum/maximum levels and colors zigzag sections in current trend color