Trading system based on the signals of the MFI_Slowdown indicator. A signal is generated at the close of a bar if a colored indicator arrow has appeared.
This Expert Advisor requires the compiled indicator file MFI_Slowdown.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. Examples of deals on the chart
Testing results for 2015 on GBPJPY H6:
Fig. 2. Chart of testing results
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/16561
Trading system based on the signals of the WPR_Slowdown indicator.Tick Chart
The indicator displays the Ask and Bid, which are taken from the real tick history. Also, it is possible to evaluate the spread changes by visually comparing the Ask and Bid.