If you're looking to enhance your trading strategy, the PA_Oscillator indicator is a great tool to consider. This trading system generates signals based on bar closures, particularly when the indicator breaks through the zero level and the histogram changes color.
To get started, you'll need the compiled indicator file PA_Oscillator.ex5. Make sure to place it in your <terminal_data_folder>\MQL5\Indicators directory to ensure everything runs smoothly.
One of the standout features of this Expert Advisor is its compatibility with brokers that offer nonzero spreads. Plus, it has the flexibility to set both Stop Loss and Take Profit right when you open a position. For more options, check out the Trade Algorithms library.
In the tests shown below, we utilized the default input parameters of the Expert Advisor. It's worth noting that we didn't apply Stop Loss or Take Profit during these tests, allowing us to focus purely on the indicator's performance.
Fig. 1. Trade examples on the chart
Let's take a look at the testing results from 2014 for the USDJPY on the H8 timeframe:
Fig. 2. Chart of testing results
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