Trading signals module based on PriceChannel_Stop indicator - MetaTrader 5 library
The signal is formed at the close of the bar. That moment, when the PriceChannel_Stop indicator changes color, indicates the time to enter the market.
Place the compiled PriceChannel_Stop.ex5 file into terminal_data_catalogue\MQL5\Indicators.
The input parameters of the default Expert Advisor were used in the test shown below. Stop Loss and Take Profit were not used during testing.
Figure 1. Example of trade on chart
2011 H4 USD/CHF test results:
Figure 2. Test result graph
Since smoothing by the number of existing modules (basic one + one additional module) is performed during the "vote" calculation, the threshold should be indicated taking into account this fact. Therefore, after creating an Expert Advisor using the MQL5 Wizard, the Signal_ThresholdOpen and Signal_ThresholdClose values must be set to 40=(0+80)/2 and 20=(0+40)/2 respectively.
Attachment download
📎 pricechannel_stop.mq5 (10.99 KB)
📎 pricechannel_stopsignal.mqh (12.14 KB)
📎 expm_pricechannel_stop.mq5 (7.83 KB)
Source: MQL5 #837
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