trade signals based on bullish harami/bearish harami + cci indicator

Related: Trade Adjustment Panel for MT5 - another powerful expert for MetaTrader 5 traders.

this is a description of a trading system based on bullish harami and bearish harami reversal candlestick patterns confirmed by the cci indicator.

Also recommended: Quantora Trade Manager MT5: Advanced Position Management - similar expert with strong performance on MetaTrader 5.

the system allows creating ready-made expert advisors based on the classes delivered together with the client terminal. it allows checking trade ideas quickly, all you need is to create your own trading signals class.

the structure of this class and example can be found in the article. the generic idea is the following: the class of trading signals is derived from the base class, the next, it's necessary to override the virtual methods with your own methods.

there is a book that considers many trading strategies, we will focus on reversal candlestick patterns, confirmed by indicators and oscillators.

the best way is to create a separate class, derived from the base class for checking of formation of candlestick patterns. for confirmation of trade signals, generated by candlestick patterns, it's sufficient to write the class, derived from the base class and add the necessary features there.

here we will consider the signals, based on bullish harami/bearish harami reversal candlestick pattern, confirmed by the cci indicator. the module of trade signals is based on the class, it's a simple example of its use for creation of trade signals with candlestick patterns.

- bullish harami and bearish harami reversal candlestick patterns
- the bullish harami reversal pattern forms in a downward trend when a large candlestick is followed by a smaller candlestick whose body is located within the vertical range of the larger body. this pattern indicates that the falling trend may be reversing, it signals that it's a good time to enter into a long position.

- the bearish harami reversal pattern forms in an upward trend when a large candlestick is followed by a smaller candlestick whose body is located within the vertical range of the larger body. this pattern indicates that the rising trend may be reversing, it signals that it's a good time to enter into a short position.

- trade signals, confirmed by cci indicator
- the trading signals to open long or short position must be confirmed by the cci indicator. the value of cci must be greater/lower than critical levels.

- the closing of opened position depends on the values of cci. it can be done in 2 cases: if cci line has reached the opposite critical level or if the reverse signal isn't confirmed.

- creating expert advisor using mql5 wizard
- the class isn't included in the standard library classes, to use it, it's necessary to download the file and save it to the client_terminal_data folder. you can use it in mql5 wizard after restart of the metaeditor.

- to create an expert advisor launch the mql5 wizard and specify the name of the expert advisor. after that, you need to select the modules of trade signals used. in our case, we use only one module of trade signals.

- adding the module of trade signals based on bullish harami/bearish harami confirmed by cci. you can select any trailing properties, but we will use trailing stop not used. concerning the money management properties, we will use trading with fixed trade volume.

- by pressing the finish button, we will get the code of the generated expert advisor, located in the terminal_data_folder. the default input parameters of the generated expert advisor must be replaced.

- the signal_thresholdopen/signal_thresholdclose input parameters allow to specify threshold levels for open and close of positions. in code of the longcondition and shortcondition methods of the trade signals class we have specified the fixed values of the threshold.

- the expert advisor, generated by mql5 wizard open and close position using the votes from the modules of trade signals. the vote of the main module is also used, but its longcondition and shortcondition methods always return 0.

- history backtesting results
- let's consider backtesting of the expert advisor on historical data. in creation of expert advisor we used the fixed volume, trailing stop algorithm is not used.

- the best set of input parameters can be found using the strategy tester of the metatrader 5 client terminal.

You may also like: Professional Automatic Trailing Stop Utility for MetaTrader 5 - excellent alternative for expert users on MetaTrader 5.

#property copyright "robotfx"
#property link "https://robotfx.org"
#property version   "1.00"
#include <expert\expert.mqh>
#include <expert\signal\mysignals\acbh_bh_cci.mqh>
#include <expert\trailing\trailingnone.mqh>
#include <expert\money\moneyfixedlot.mqh>
input string expert_title         ="expert_abh_bh_cci"; // document name
ulong        expert_magicnumber   =7218;                // 
bool         expert_everytick     =false;               // 

.......

• This tool is provided for educational and testing purposes only.
• Past performance does not guarantee future results.
• Trading involves substantial risk of loss. Use on a demo account first.
• Results may vary depending on market conditions, broker, and settings.
• We recommend thorough backtesting and forward testing before using with real funds.