If you're on the lookout for a trading system that can give you a leg up, let me introduce you to the Blau Candle Momentum Index (BlauCMI) oscillator. This nifty tool helps you make informed decisions by signaling when the market is ready for a shift.
To get started, simply drop the compiled BlauCMI.ex5 file into your MetaTrader 5's terminal_data_folder/MQL5/Indicators directory.
It's important to note that the TradeAlgorithms.mqh library is tailored for use with Expert Advisors (EAs) from brokers that provide a nonzero spread and allow you to set Stop Loss and Take Profit at the same time as opening a position. If you need other versions of this library, you can find them here.
During our testing, we used the default input parameters for the Expert Advisor, and no Stop Loss or Take Profit settings were applied.
Fig. 1. The instances of history of deals on the chart.
When we tested this system in 2012 using the EURUSD on a 1-hour timeframe, the results were quite promising:
Fig. 2. Chart of testing results
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