The trading system is based on the signals of the ColorSchaffTrendCycle indicator. A signal to perform a deal is formed at bar closing when there is breakthrough of the histogram in overbought/oversold level.
These levels are defined by input parameters of the Expert Advisor:
input int HighLevel=+60; //oversold level input int LowLevel=-60; //overbought level
Place ColorSchaffTrendCycle.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 USDCHF H4:
Fig. 2. Chart of testing results
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/1426
The SchaffTrendCycle oscillator performed as a color histogram.Exp_TrendEnvelopes
The Expert Advisor drawn on the basis of the TrendEnvelopes semaphore, signal indicator
The indicator "collects" the information of a trend lines drawn on a current chart, displays the prices of lines in the last (forming) bar and also either gives signals, or sends alerts when price crosses the trend line upon trader choiceRPoint
The chart layout in X-points reversal