Harnessing the Exp_FisherTransform_X2 for Trend Trading on MetaTrader 5

The Exp_FisherTransform_X2 is a powerful trend trading system designed for MetaTrader 5. It leverages signals from two Fisher Transform indicators, enabling traders to identify and capitalize on market trends effectively.

How It Works

The first Fisher Transform indicator provides insights into the direction of the slow trend by analyzing the positions of the main and signal lines. Meanwhile, the second indicator signals the optimal time to open a trade when these lines intersect or touch. A trading signal is generated when the following two conditions are met:

Both fast and slow trend signals align.
The direction of the fast trend experiences a change.

Input Parameters for the EA

Here are the key input parameters for the Exp_FisherTransform_X2:

//+-------------------------------------------------+
//| Input parameters of the EA indicator |
//+-------------------------------------------------+
input string Trade="Trade management";    //+============== TRADE MANAGEMENT ==============+
input double MM=0.1;               //Share of a deposit in a deal
input MarginMode MMMode=LOT;      //lot value detection method
input uint    StopLoss_=1000;      //Stop Loss in points
input uint    TakeProfit_=2000;    //Take Profit in points
input string MustTrade="Trade permissions";    //+============== TRADE PERMISSION ==============+
input int    Deviation_=10;       //max. price deviation in points
input bool   BuyPosOpen=true;     //Permission to enter long position
input bool   SellPosOpen=true;    //Permission to enter short position
//+-------------------------------------------------+
//| Input parameters of the filter indicator |
//+-------------------------------------------------+
input string Filter="PARAMETERS FOR SLOW TREND";    //+============== PARAMETERS FOR SLOW TREND ==============+
input ENUM_TIMEFRAMES TimeFrame=PERIOD_H6;  //1 Chart period for the trend
input uint Length=10;// indicator smoothing ratio
input uint SignalBar=1; //bar index for getting an entry signal
input bool   BuyPosClose=true;     //Permission to exit long positions by trend
input bool   SellPosClose=true;    //Permission to exit short positions by trend
//+-------------------------------------------------+
//| Input parameters of the entry indicator |
//+-------------------------------------------------+
input string Input="ENTRY PARAMETERS";       //+=============== ENTRY PARAMETERS ===============+
input ENUM_TIMEFRAMES TimeFrame_=PERIOD_M30;  //2 Chart period for the entry
input uint Length_=10; // indicator period
input uint SignalBar_=1;//bar index for getting an entry signal
input bool   BuyPosClose_=false;     //Permission to exit long positions by signal
input bool   SellPosClose_=false;    //Permission to exit short positions by signal
//+-------------------------------------------------+

Note that any string parameters in the input settings are purely for enhancing the visualization of the Expert Advisor's input parameters window.

The FisherTransform_HTF indicators included in the EA are designed solely for better visualizing trends during strategy testing. They remain inactive in other operational modes.

To set up the EA, make sure to place the FisherTransform.ex5 and FisherTransform_HTF.ex5 compiled files in your <terminal_data_folder>\MQL5\Indicators directory.

Additionally, the TradeAlgorithms.mqh library file facilitates the use of Expert Advisors with brokers who offer nonzero spreads and allow setting Stop Loss and Take Profit simultaneously with position openings. You can find more variations of this library at the following link: Trade Algorithms.

The default input parameters for the Expert Advisor were utilized in the tests presented below. Note that Stop Loss and Take Profit were not applied during these tests.

Fig. 1. Examples of deals on the chart