The Exp_TotalPowerIndicatorX Expert Advisor is based on the signals generated by the TotalPowerIndicatorX oscillator. It also provides the possibility to set a strict trading time interval.
A trade signal is formed when a bar is closing, if the color of the indicator cloud has changed (the main indicator line has crossed the signal line).
It is possible to specify trading time in input parameters to trade in the specified time interval:
input bool TimeTrade=true; //Allow trading in the specified interval input HOURS StartH=ENUM_HOUR_0; //Trading start (hours) input MINUTS StartM=ENUM_MINUT_0; //Trading start (minutes) input HOURS EndH=ENUM_HOUR_23; //Trading end (hours) input MINUTS EndM=ENUM_MINUT_59; //Trading end (minutes)
Two variables (hours and minutes) are provided for the operation start time, and two similar variable for the end time.
Default settings enable the Expert Advisor to trade the whole trading session from 0:00, while all positions are closed at 23:59.
If the start time is later than the specified end time, the Expert Advisor will close positions the next day, at the specified time.
For a correct operation of the Expert Advisor, you should save the TotalPowerIndicatorX.ex5 compiled indicator file 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 during position opening. You can download more variants of the library at the following link: Trade Algorithms.
Default input parameters of the Expert Advisor were used during the tests shown below. Stop Loss and Take Profit were not used during testing.
Fig. 1. Examples of deals on the chart
Testing results for 2015 at GBPUSD H4:
Fig. 2. Testing results chart
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/18314
Signals are generated by the iBands, Bollinger Bands indicator. When a signal is received, opposite positions are closed.TotalPowerIndicatorX_HTF
The TotalPowerIndicatorX indicator with the timeframe selection option available in the indicator input parameters.