ACB Trade Filter MT5

ACB Trade Filter indicator provides a way to filtering out the low probability trading entries in a trading strategy. The indicator uses a sophisticated filtration algorithm based on the market sentiment and trend. The MT4 version of the same indicator is available here ACB Trade Filter MT4

Applications

• Works great with our indicator ACB Breakout Arrows MT5
• Filter out low probability signals from any indicator.
• Avoid over-trading and minimize the losses.
• Trade in the direction of market sentiment and trend.
• Avoid the choppiness in the market.

How to use

• Only Long Positions if Histogram is green and Trend is bullish.
• Only Short Trades if Histogram is red and Trend is bearish.
• Avoid trading if the Histogram is gray or Trend is sideways.

Input Parameters

• History Bars: The no. of bars on the chart to consider for indicator's data and calculation.
• Filter mode: Normal filtration or Hard filtration.
• Trend Detector: Show/Hide the trend direction.
• Rest of the inputs are self-explanatory.

For EA developers

// Define Arrays

double Green_Histogram[];
double Red_Histogram[];
double Gray_Histogram[];
double Trend_Direction[];

// Define indicator handle

int Trade_Filter_Handle = iCustom(Symbol(),PERIOD_CURRENT,"Market/ACB Trade Filter");

// Copy buffer into arrays

 ArraySetAsSeries(Green_Histogram,true);
 ArraySetAsSeries(Red_Histogram,true);
 ArraySetAsSeries(Gray_Histogram,true);
 ArraySetAsSeries(Trend_Direction,true);
   
 CopyBuffer(Trade_Filter_Handle,0,1,1,Green_Histogram);
 CopyBuffer(Trade_Filter_Handle,1,1,1,Red_Histogram);
 CopyBuffer(Trade_Filter_Handle,2,1,1,Gray_Histogram);
 CopyBuffer(Trade_Filter_Handle,3,1,1,Trend_Direction);

// Reading Histogram color

if(Green_Histogram[0]==1.5)  // Histogram is green
if(Red_Histogram[0]==1.5)    // Histogram is red
if(Gray_Histogram[0]==1.5)   // Histogram is gray

// Reading trend direction

if(Trend_Direction[0]==1)   // Trend is bullish
if(Trend_Direction[0]==-1)  // Trend is bearish
if(Trend_Direction[0]==0)   // Trend is sideway