The Exp_Stochastic_Chaikins_Volatility Expert Advisor is based on the Stochastic_Chaikins_Volatility indicator color change. The signal is formed when a bar is closing if there is change in cloud color of the indicator.
The Expert Advisor uses the compiled indicator file Stochastic_Chaikins_Volatility.ex5 for operation. Save 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 H12:
Fig.2. Chart of testing results
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/18040
The Stochastic_Chaikins_Volatility indicator with the timeframe selection option available in its input parameters.SD Delete Indicators
The script allows to quickly remove indicators from charts.