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iCCI iMA - expert for MetaTrader 5

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Published by:
Vladimir Karputov
Views:
621
Rating:
votes: 15
Published:
2017.11.03 11:47
iCCI iMA.mq5 (34.71 KB)view

Author of the idea is Andrey, the author of the MQL5 code is barabashkakvn.

Calculating Moving Average using Commodity Channel Index data:

//--- create handle of the indicator iMA
   handle_iMA=iMA(m_symbol.Name(),Period(),15,0,MODE_EMA,handle_iCCI);
//--- if the handle is not created 
   if(handle_iMA==INVALID_HANDLE)
     {
      //--- tell about the failure and output the error code 
      PrintFormat("Failed to create handle of the iMA indicator for the symbol %s/%s, error code %d",
                  m_symbol.Name(),
                  EnumToString(Period()),
                  GetLastError());
      //--- the indicator is stopped early 
      return(INIT_FAILED);
     }

It is similar to launching in the terminal the Moving Average indicator in the Commodity Channel Index window with "Previous Indicator's Data" selected in its parameters (apply indicator to other indicator's data).

Position opening and closing principles:

  • If Moving Average calculated based on Commodity Channel Index crosses the common Commodity Channel Index downwards, a BUY position is opened.
  • If Moving Average calculated based on Commodity Channel Index crosses the common Commodity Channel Index upwards, a SELL position is opened.
  • If Moving Average calculated based on Commodity Channel Index crosses the common Commodity Channel Index upwards, a BUY position is closed.
  • If Moving Average calculated based on Commodity Channel Index crosses the common Commodity Channel Index downwards, a SELL position is closed.

Testing on EURUSD,H1:

iCCI iMA test

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/18776

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