The Exp_Chaikin_Volatility_Stochastic Expert Advisor is based on the Chaikin_Volatility_Stochastic indicator color change. The signal is formed when a bar is closing if there is change in cloud color of the indicator. This Expert Advisor requires the compiled indicator file Chaikin_Volatility_Stochastic.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. The instances of history of deals on the chart.
Testing results for 2015 at GBPUSD H4:
Fig.2. Testing results chart
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/15780
The Chaikin_Volatility_Stochastic indicator with the timeframe selection option available in input parameters.Chaikin_Volatility_Stochastic
When analyzing the behavior of the Chaikin Volatility Index, the author of this indicator wondered how it would act if it is modified and if the stochastization process is applied to it.