Trading system based on Elliott_Wave_Oscillator indicator signals. The signal is formed when a bar is closing if there is a change in histogram direction.
The Expert Advisor uses the compiled indicator file Elliott_Wave_Oscillator.ex5 for operation. Save 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 tests shown below. Stop Loss and Take Profit have not been used during the tests.
Fig. 1. Examples of trades on the chart
Testing results for 2015 at EURUSD H4:
Fig. 2. Charts of testing results
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/15262
Elliott_Wave_Oscillator indicator with the timeframe selection option available in input parameters.Elliott_Wave_Oscillator
Elliott Waves oscillator.