iCHO Trend CCIDualOnMA Filter - MetaTrader 5 Expert - MT4/MT5 Resource

trading strategy

EA trading uses two indicators: iCHO (Chaikin Oscillator, CHO) and the custom indicator CCDI . CHO is used as a trend indicator and positions are closed when the indicator crosses zero. The "CCIDualOnMA" indicator is used as a filter for adding positions. Both indicators are in the specified 'active timeframe' - the same timeframe used to determine the moment of birth of a new bar (if necessary with the parameters 'Trailing... ' and 'Search signal... ').

When closing a position, the CHO indicator crosses zero :

Normal signal (add position)

The CHO indicator is above zero, the fast CCI crosses the slow CCI from bottom to top, and the fast CCI is below zero - this is a signal to open a buy.

Figure 1. iCHO trend CCIDualOnMA filter

Now let's take a closer look at each set of parameters:

Transaction settings:

'Working time frame ' - Approximate time in employment . Time range for creating the indicator and searching for new bars.

Stop loss, take profit and trail setting points . Any parameter ( 'Stop Loss ', 'Take Profit ', 'Trailing Stop ') can be disabled - to do this, set the selected parameter to "0.0".

The trailing stop code works as shown in the image below.

Position size management (lot calculation)

The lot size can be constant ( 'Money Management ' is set to 'Constant Lots ' and the lot size is set to 'Money Management's Value ') or dynamic - a percentage trade per risk ( 'Money Management ' is set to 'Trading Risk Percent ' and the Risk Percent is set to 'Money Management's Value '). It is also possible to set a constant lot size equal to the minimum lot size - ' Money Management ' is set to 'Many Minutes '.

Additional features:

The 'Positions:OnlyOne ' flag set to 'True ' allows the EA to hold no more than one position in the market.

Attention: ' Position: Only 1 ' set to ' True ' does not cancel ' Position: Near Opposite ' set to ' True '! In other words: the opposite position will be closed first.

The 'Position: Reverse ' sign is responsible for the reverse signal. An interesting flag 'Positions' : Near Opposite ' - when set to 'true ' before opening a position, it will ensure that the opposite position is removed. 'Print log' outputs advanced logging of all operations. The 'Freeze and stop levels coefficient ' parameter sets the coefficient for the stop and freeze levels when these levels of the symbol are equal to zero. It is recommended to use the value "3".

Attachment download

📎 icho_trend_ccidualonma_filter.mq5 (193.65 KB)

📎 ccidualonma.mq5 (18.27 KB)

Source: MQL5 #37799