Creator of the Concept: Martes
mq5 Code Contributor: barabashkakvn
The One Two Three System utilizes the iChaikin (Chaikin Oscillator, CHO) to assess the market’s condition—whether it’s flat or trending.
Positions are initiated only upon the appearance of a new bar, and only if there’s a clear signal. The trailing stop feature functions at each tick, checking the stop loss at every tick.
Understanding Flat Market Conditions
This EA defines a flat condition by evaluating the CHO: Number of Bars for Flat and ensures that the Chaikin Oscillator remains within the specified range from "-" CHO: Flat Level to "+" CHO: Flat Level across all utilized bars. The required accuracy is determined by Channels Flat or Open. For instance, if Channels Flat or Open is set to 90%, and at least 90% of the bars fall within the range from "-" CHO: Flat Level to "+" CHO: Flat Level, we confirm a flat market.
So, what’s our next move with this information?
When the market is flat, we simply wait for the next bar. If it’s not flat, we need to check the Chaikin Oscillator value on bar #0:
- If the Chaikin Oscillator on bar #0 >= CHO: Open Level, we have a BUY signal.
- If the Chaikin Oscillator on bar #0 <= - CHO: Open Level, we have a SELL signal.
For the EURUSD M5 pair, the default values are set. Here are the results of the test:
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