Trading system based on the signals of the BSI indicator. The signal is formed when a bar is closing if there is change in color of the indicator histogram.
This Expert Advisor requires the compiled indicator file BSI.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 2015 at EURUSD H8:
Fig. 2. Chart of testing results
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/14813
The Price_Channel_Central indicator with the timeframe selection option available in the input parameters.Price_Channel_Central
The Channel indicator. The indicator also displays the current channel levels as price labels and the type of the signal for making trading decisions.