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2017.01.19 17:02

Candels High Open - indicator for MetaTrader 5

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votes: 12

The entire chain: SignalCandelsHighOpen indicator signal module, the EA based on the signals module — CandelsHighOpen.  

If the last three bars (the zero bar is not considered) are rising:

         (high[i+1]>high[i+2] && high[i+2]>high[i+3] &&
         high[i+3]>high[i+4] && open[i+1]>open[i+2] &&
         open[i+2]>open[i+3] && open[i+3]>open[i+4])

means the indicator generates the "+1" signal.

If the last three bars (the zero bar is not considered) are falling:

         (high[i+1]<high[i+2] && high[i+2]<high[i+3] &&
         high[i+3]<high[i+4] && open[i+1]<open[i+2] &&
         open[i+2]<open[i+3] && open[i+3]<open[i+4])

means the indicator generates the "-1" signal. 

If the last three bars (the zero bar is not considered) are neither rising nor falling, the signal is "0". 

At the same time, the indicator has the Reverse signals parameter — false/true values change the signal sign: 

Indicator Candels High Open

The module of trading signals based on Candels High Open is to be created in the near future (find out more on creating trading signal modules in the article "Create Your Own Trading Robot in 6 Steps!"). An Expert Advisor can be generated afterwards in MQL5 Wizard based on the trading signal module.

Translated from Russian by MetaQuotes Software Corp.
Original code:

Zigzag2_R_Color_Arrows_HTF Zigzag2_R_Color_Arrows_HTF

The Zigzag2_R_Color indicator with the timeframe selection option in the input parameters and display of values as fractal labels.


The simplest Expert Advisor based on MFI.

SignalCandelsHighOpen SignalCandelsHighOpen

Module of trading signals of the "Candels High Open" custom indicator for analyzing High and Open of the last three bars.

CandelsHighOpen CandelsHighOpen

CandelsHighOpen Expert Advisor is based on the Candels High Open indicator trading signals module. The EA features trading market and pending orders, as well as trailing stop based on Parabolic SAR.