Exp_i-SpectrAnalysis_Chaikin – EA MetaTrader 5

The Exp_i-SpectrAnalysis_Chaikin Expert Advisor is based on change of direction of the i-SpectrAnalysis_Chaikin indicator. The signal is formed when a bar is closing if there is change of direction of the indicator line.

This Expert Advisor requires the compiled indicator file i-SpectrAnalysis_Chaikin.ex5 in order to run. Place it to <terminal_data_folder>\MQL5\Indicators.

It should be noted, that the averaging algorithm used in the i-SpectrAnalysis_Chaikin causes the resulting indicator to be redrawn on all bars. Therefore, after some it is impossible to get the picture of the real indicator state for the moment when the deal was performed.

Note that the TradeAlgorithms.mqh library file allows using Expert Advisors with brokers who offer nonzero spread and the option of setting Stop Loss and Take Profit together with position opening. You can download more variants of the library at the following link: Trade Algorithms.

Default Expert Advisor’s input parameters have been used during the tests shown below. Stop Loss and Take Profit have not been used during the tests.

Fig.1. The instances of history of deals on the chart.

Testing results for 2015 at GBPUSD H4:

Fig.2. Testing results chart