Trading system using the ColorMETRO_Stochastic indicator. The signal is formed when a bar is closing if there is change in cloud color.
The Expert Advisor requires the compiled indicator file ColorMETRO_Stochastic.ex5 . Place it to terminal_data_directory\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 H6:
Fig. 2. Chart of testing results
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/14463
The ColorMETRO_Stochastic with the timeframe selection option available in the input parameters.ColorMETRO_Stochastic
Indicator of the oscillator type, which displays its values based on the Stochastic technical indicator.