The Exp_Delta_MFI Expert Advisor is based on the Delta_MFI indicator color change. A signal to perform a deal is formed at the close of a bar if the color of the indicator histogram changes to trend light blue or pink.
This Expert Advisor requires the compiled indicator file Delta_MFI.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.
Fig1. Examples of deals on the chart
Testing results for 2015 at EURUSD H4:
Fig.2. Chart of testing results
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/16501
The Delta_MFI indicator with the timeframe selection option available in the input parameters.Delta_WPR
Trend analyzer based on the difference of two WPR oscillators with different periods.