The Exp_SMI_Correct Expert Advisor is based on the SMI_Correct 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 SMI_Correct.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/15996
The indicator plots price channel, Fibonacci levels and Gann fan based on the latest ZigZag peaks.i-CAi_StDev_HTF
The i-CAi_StDev indicator with the timeframe selection option available in input parameters.