The Exp_i-BandsPrice Expert Advisor is based on the i-BandsPrice histogram breaking through the overbought and oversold levels. The signal is formed when a bar is closing if there is breakthrough of one of the levels.
This Expert Advisor requires the compiled indicator file i-BandsPrice.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 at GBPJPY H1:
Fig.2. Testing results chart
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/13729
The i-BB-Width indicator with the timeframe selection option available in the input parameters.i-KlPrice_HTF
The i-KlPrice indicator with the timeframe selection option available in the input parameters.