Discussion of article "MQL5 Cookbook - Trading signals of moving channels"

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New article MQL5 Cookbook - Trading signals of moving channels has been published:

The article describes the process of developing and implementing a class for sending signals based on the moving channels. Each of the signal version is followed by a trading strategy with testing results. Classes of the Standard Library are used for creating derived classes.

So, let us start with something simple that can be improved and revised with the help of the OOP. Let there be some basic strategy.

This strategy will consider fairly simple trading rules. Market entries will be made by the channel borders. When the price touches the lower border a buy position will be opened, when it touches the lower border - a sell position. Fig. 1 shows that the price touched the lower border, so the robot bought a certain volume. The trade levels (stop loss and take profit) have a fixed size and were placed automatically. If there is position opened, the repeated entry signals will be ignored.

Fig.1 Entry signal

Fig.1 Entry signal

Author: Dennis Kirichenko

 
Congrats for the article. I'm studying signals based on Fibonacci channels, something like https://www.mql5.com/en/code/585
Do you know any similar signal? Thanks.
ZigZag on Parabolic + Fibo + Channel
ZigZag on Parabolic + Fibo + Channel
  • votes: 18
  • 2011.11.29
  • Nikolay Kositsin
  • www.mql5.com
ZigZag indicator built using the values of the Parabolic SAR technical indicator with the added possibility to build Fibo levels on the last two indicator peaks and the channel generated with the use of three successive zigzag peaks with selection of these peaks.
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