CHO Smooth EA - MetaTrader 5 Expert | Forex Indicator Download - MT4/MT5 Resources

trading strategy

EA uses custom indicators ' CHO smooth' - The indicator uses two lines: the iCHO line (Chaykin Oscillator, CHO) and the iCHO line smoothed using a "Moving Average". The indicator is created within the specified time frame ' Working Time Frame ' - the same time frame is used to determine the moment of birth of a new bar (if necessary with the parameters 'Trailing... ' and ' Search Signal... '). In the settings you can set a stricter signal - for this the "Use ZeroLevel" parameter must be set to "true".

This signal is the intersection of two lines of the indicator. If set to strict mode ("Use ZeroLevel" parameter must be set to "true"), the "BUY" opening signal will only be below zero, and the "SELL" opening signal will be only above zero.

rice. 1. CHO Smooth EA

Now take a closer look at each set of parameters:

Transaction settings:

' Working time range ' - Working time range. Time range for creating the indicator and searching for new bars. Stop Loss, Take Profit and Trailing Settings integral . Any parameter (' Stop Loss ', ' Take Profit ', ' Trail Stop ') can be disabled - to do this, set the selected parameter to "0.0". How tailing works is shown in the picture below Trailing Stop code.

Position size management (lot calculation)

The lot can be permanent (' Money Management ' is set to ' Constant Lots ' and lot size is set to ' Value of 'Money Management' ') and dynamic - risk percentage per trade (' Money Management ' is set to ' Trade Risk Percent ' and set risk percentage in 'Value of 'Money Management' '). You can also set a constant lot size equal to the minimum lot size - ' Money Management ' is set to ' Min Lot Size '.

Additional features:

Flag ' Positions: Only 1 ' set to ' True ' allows the EA to hold no more than one position on the market.

warn: ' Positions: Only 1 ' is set to ' true ' Not covered ' Position: Near the opposite side ' To ' really '! In other words: the opposite position will be closed first

Flag ' Position: Reverse ' is responsible for signal reversal. An interesting flag ' Position: Near Opposite ' - when set to ' True ' ensures removal of the opposite position before opening it. ' Print log ' Prints an extended log 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. The recommended value is "3".

Attachment download

📎 cho_smoothed_ea.mq5 (124.54 KB)

📎 cho_smoothed.mq5 (19.43 KB)

Source: MQL5 #38985