The Exp_RAVI_Histogram breakout trading system based on the signals of the RAVI_Histogram oscillator. The signal is formed when a bar is closing, if the indicator breaks through the overbought level form below or the oversold level from above.
This Expert Advisor requires the compiled indicator file RAVI_Histogram.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 on GBPJPY H4:
Fig. 2. Testing results chart
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/16100
Another alternative to the Bollinger Bands® channel with colored inner area of the channel.RAVI_Histogram_HTF
The RAVI_Histogram indicator with the timeframe selection option available in input parameters.
The Balance of Power (BOP) indicator as a color histogram of strength and direction of the current trend.PPO_SignAlert
Semaphore signal indicator based on the relative smoothed rate of price change, which features alerts, sending emails and push-notifications to mobile devices.