A trading system that uses the Candle Momentum indicator.
A trade decision is made when the momentum changes direction or at the breakthrough of the zero line. The following input parameter is used for selecting an entry algorithm option:
input AlgMode Mode=twist; //the algorithm to enter the market
For a correct operation of the EA, place the compiled indicator file BlauCMomentum.ex5 to the terminal_data_folder\MQL5\Indicators.
It should be considered that the TradeAlgorithms.mqh library file is designed to use Expert Advisors by brokers who offer nonzero spread and ability to set Stop Loss and Take Profit simultaneously opening a position. Other variants of this library can be downloaded from https://www.mql5.com/en/code/1578.
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. The instances of history of deals on the chart.
Testing results for 2012-2013 at EURUSD H4:
Fig. 2. Chart of testing results
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/1935
A trading system that uses the Candle Momentum Index.BlauDTI
William Blau's Directional Trend Index in the form of a colored histogram.