One Two Three - MetaTrader 5 Expert | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources

The author of this idea - Mink

mq5 code author - Bara Bashkakon

The EA applies the iChaikin (Chaikin Oscillator, CHO) indicator to define the market state: flat or trending.

Open a position only when a new bar appears (and only if a signal to open a position exists), follow it on every price move (opportunity to check the moving stop level on every price move).

Flat definition principle

The EA takes the CHO:Flat numerical bars and checks the conditions: Chaikin oscillator values ​​should be in the range of "-" CHO:Flat levels to "+" CHO:Flat levels on all used bars. Effective accuracy - channel flat or open . Assume the channel is flat or open equal to 90%. If 90% or more of all bars fall within the range "-" CHO: Average to "+" CHO: Average , have an apartment.

Now, what should we do with all this data?

If there are apartments, we'll just have to wait for the new bar to arrive. Otherwise, check the Chaikin oscillator value on bar #0:

For EURUSD M5, the default value is written. Test results:

Attachment download

📎 one_two_three.mq5 (38.5 KB)

Source: MQL5 #22127