MetaTrader 5 ‣ MT5 Libraries ‣ Trading signals module based on BykovTrend indicator – library MetaTrader 5
Fig.1. Deals examples on the chart

Trading signals module based on BykovTrend indicator – library MetaTrader 5

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The signal is formed when a bar is closing. BykovTrend indicator’s color arrow serves as a market entry signal.

Place BykovTrend.ex5 compiled file to the terminal_data_folder\MQL5\Indicators.

Creation of a trading robot based on this trading signals module has nothing special in it. It has been described in details in the article “MQL5 Wizard for Dummies”. The general idea of creating a trading signals module has been described in the article “Simple Trading Systems Using Semaphore Indicators”.

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. Deals examples on the chart

Fig.1. Deals examples on the chart

Testing results for 2011 at NZDUSD H4:

Fig.2. Test results chart

Fig.2. Test results chart

Note:

The Expert Advisor generated using MQL5 Wizard chooses the moments for opening and closing positions based on the results of the “voting” of trading signals added during the Expert Advisor creation. The main trading signals module (containing all added ones) also takes part in the “voting” but its LongCondition() and ShortCondition() methods always return 0.

Alternative:   LRMA - indicator MetaTrader 5

Since the smoothing by the number of present modules (basic one + one additional module) is performed during the “votes” calculation, threshold values should be indicated considering this fact. For this reason, Signal_ThresholdOpen and Signal_ThresholdClose values must be set to 40=(0+80)/2 and 20=(0+40)/2, respectively, after creation of the Expert Advisor code using MQL5 Wizard.


Trading signals module based on BykovTrend indicator – library MetaTrader 5
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