Discussion of article "Trading signals module using the system by Bill Williams"

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New article Trading signals module using the system by Bill Williams has been published:

The article describes the rules of the trading system by Bill Williams, the procedure of application for a developed MQL5 module to search and mark patterns of this system on the chart, automated trading with found patterns, and also presents the results of testing on various trading instruments.

The trading system by Bill Williams described in his book called "New trading dimensions" is certainly something that any trader is familiar with. This is one of the systems that contains clear and understandable rules for a majority of beginners. But the simplicity of rules is only apparent — the trading system comprises more than a dozen of trading patterns.

Many have attempted to create an Expert Advisor themselves based on this system, but pattern formalization, correct search and interpretation frequently prove difficult. In order to automate trading as well as identify and mark the system patterns, I have developed a module of trading signals for creating robots in MQL5 Wizard.

I aimed to create maximum convenience for those potential users of the MetaTrader 5 terminal, who may wish to study the trading system independently. The difference of the suggested trading module from other 60 published modules for MQL5 Wizard is that it contains configuration options with a visual interface.

2. Graphic panel

2.1. General information

The interface of the graphic panel is shown below:

Figure 16. Graphic panel to manage the Expert Advisor

Figure 16. Graphic panel to manage the Expert Advisor

The graphic panel consists of four logical blocks:

  • Analyzer settings;
  • Alligator settings;
  • Settings for displaying and trading by signals of five dimensions;
  • Settings for trading.

After changing settings press "Accept" button to save them.

Author: Nikolay Churbanov

 
Great article and very informative...
 
Isn't this system the same as chaos trading? Just asking.. :)
 
Very good article, I learned much from this paper.
Thank you very much..
 

This is one of the best to learn form.

Thanks Master,  Nikolay Churbanov


If you get an error when compiling.


go to:

SignalBillWilliams.mqh

comments out line# 96 then

at line # 134

Change 

return INIT_FAILED;

To

return false;
 

Thanks Nicolay, this article is very helpful.

I'm using Metatrader 4 trading platform which doesn't seem to allow MetaEditor 5

Is there a way that I can get the Trading Signals Module to run on MetaTrader4?

 

I have loaded your EA and made the correction as detailed in your instructions.

I have been checking the alerts and point of exit and entry but are having difficulty in what they are indicating 

that I should do .. Like in AC ZS S and on the main chart FrS when they are way under the lips of the alligator and the bars are 

pulling away supporting the down trend.  

Could be I do not understand how it works?

Appreciate any help. Regards, Roger 

RE

l

 
I read this article today (17 Sep 2020), some 4 years after it was added.  Very interesting. Not sure if anyone has used the EA with real money and what are the results it generated.
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