Trading system using the iCCI_NR indicator. The position opening signal is formed at the bar closing time if there is a breakout of the support and resistance levels with a change in color. The position closing signals are formed if there is a breakout of the mean line of the indicator.
The Expert Advisor requires the compiled indicator file iCCI_NR.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 H8:
Fig. 2. Chart of testing results
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/14475
The iCCI_NR indicator implemented as a sequence of candlesticks.iCCI_NR_HTF
The iCCI_NR with the timeframe selection option available in the input parameters.