OHLC Check – EA MetaTrader 5

Idea by: Alexey Lopatin

MQL5 code author: barabashkakvn

The EA only operates when a new bar emerges.

Trading system signals

• A signal to open a BUY position: if Close price of bar #Bar index for signal checking > Open price of bar #Bar index for signal checking;
• A signal to open a SELL position: if Close price of bar #Bar index for signal checking < Open price of bar #Bar index for signal checking;

Trading settings

Stop Loss and Take Profit can be disabled. To do this, set the appropriate parameter value to 0.0. Trading signals can be reversed using parameter Enable/disable reverse mode for trading. If the current spread is greater than Maximum allowed spread, the position open signal should be ignored.

Working Timeframe

For convenience of testing, Work TimeFrame is available as a separate parameter. This enables to test the Expert Advisor on the selected symbol using all timeframes.

Position volume calculation

The EA can trade a constant lot (Lots > 0 and Risk == 0), as well as use dynamic calculation (Lots == 0 and Risk > 0). Here:

• Lots – fixed position volume (in this case the Risk parameter should be equal to zero);
• Risk – risk as percent per trade (in this case the Lots parameter should be equal to zero).

Symbol EURUSD, “Every tick based on real ticks”: