Trading system based on the signals of the XMA_Range_Channel indicator. The signal is formed when a bar is closing if there is change in candlestick color from neutral to lime/green or pink/purple, i.e. if there is a breakthrough of the channel formed by the indicator lines.
This Expert Advisor requires the compiled indicator file XMA_Range_Channel.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. Trade examples on the chart
Testing results for 2014 on USDJPY H4:
Fig. 2. Chart of testing results
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/14234
The WPR indicator with the timeframe selection option available in the input parameters.VininI_BB_HTF
The VininI_BB indicator with the timeframe selection option available in the input parameters.