Trading system based on the signals of the VolatilityQuality indicator. The signal is formed when a bar is closing if there is change in color of the indicator line.
This Expert Advisor requires the compiled indicator file VolatilityQuality.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.
Originally this EA has been written in MQL4 and was first published in the Code Base on 24.08.2008.
Fig. 1. Trade examples on the chart
Testing results for 2014 on GBPJPY H4:
Fig. 2. Chart of testing results
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/14312
The VolatilityQuality with the timeframe selection option available in the input parameters.VolatilityQuality
Unnormalized oscillator used as a trend identifier.