Welcome fellow traders! Today, I want to dive into an exciting trading system that leverages the CCI_Histogram indicator. This Expert Advisor (EA) is designed to spot trade signals right at the close of a bar. How does it work? Well, it generates a signal when the histogram shifts from a neutral gray to either red or blue, indicating that the CCI oscillator has hit the overbought or oversold zones.
For this EA to function smoothly, you’ll need to have the compiled CCI_Histogram.ex5 indicator file in the right spot. Just save it to your <terminal_data_folder>\MQL5\Indicators directory.
Now, a quick heads-up: the TradeAlgorithms.mqh library is essential for using EAs with brokers that offer a nonzero spread. This library also allows you to set your Stop Loss and Take Profit levels right when you open a position. If you're looking for more variations of this library, you can grab them from this link: Trade Algorithms.
For the tests displayed below, we used the default input parameters for the Expert Advisor. Keep in mind that during testing, we didn’t utilize Stop Loss or Take Profit.
Fig. 1. Examples of trades on the chart
Let’s take a look at the testing results from 2015 on the EURUSD H4 chart:
Fig. 2. Chart of testing results
Comments 0