One Two Three – EA MetaTrader 5

The author of the idea – Martes

mq5 code author – barabashkakvn

The EA applies iChaikin (Chaikin Oscillator, CHO) indicator to define the market state: flat or trend. 

Positions are opened only when a new bar appears (and only if there is an open signal), trailing works at each tick (the opportunity to move a stop loss level is checked at each tick).

Flat definition principle

The EA takes CHO: Number bars for flat bars and checks the condition: Chaikin Oscillator value should be within the range from “-”  CHO: Flat level to “+” CHO: Flat level on all used bars. Valid accuracy – Channels Flat or Open. Suppose that Channels Flat or Open is equal to 90%. If out of all bars, 90% or more are within the range from “-”  CHO: Flat level to “+” CHO: Flat level, there is a flat.

Now, what should we do with all that data?

In case of a flat, we simply wait for a new bar’s arrival. Otherwise, check Chaikin Oscillator value on bar #0:

• if Chaikin Oscillator on bar #0 >= CHO: Open level => BUY open signal
• if Chaikin Oscillator on bar #0 <= – CHO: Open level => SELL open signal

For EURUSD M5, the default values are written. The test result: