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One Two Three - expert for MetaTrader 5

Martes | English Русский 中文 Español Deutsch 日本語 Português

Published by:
Vladimir Karputov
votes: 16
2018.10.25 18:39

The author of the idea - Martes

mq5 code author - barabashkakvn

The EA applies iChaikin (Chaikin Oscillator, CHO) indicator to define the market state: flat or trend. 

Positions are opened only when a new bar appears (and only if there is an open signal), trailing works at each tick (the opportunity to move a stop loss level is checked at each tick).

Flat definition principle

The EA takes CHO: Number bars for flat bars and checks the condition: Chaikin Oscillator value should be within the range from "-"  CHO: Flat level to "+" CHO: Flat level on all used bars. Valid accuracy - Channels Flat or Open. Suppose that Channels Flat or Open is equal to 90%. If out of all bars, 90% or more are within the range from "-"  CHO: Flat level to "+" CHO: Flat level, there is a flat.

One Two Three flat

Now, what should we do with all that data?

In case of a flat, we simply wait for a new bar's arrival. Otherwise, check Chaikin Oscillator value on bar #0:

  • if Chaikin Oscillator on bar #0 >= CHO: Open level => BUY open signal
  • if Chaikin Oscillator on bar #0 <= - CHO: Open level => SELL open signal

For EURUSD M5, the default values are written. The test result:

One Two Three test

Translated from Russian by MetaQuotes Software Corp.
Original code:

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