trade signals based on dark cloud cover/piercing line + cci indicator

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

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

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

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 the 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 dark cloud cover/piercing line reversal candlestick pattern, confirmed by cci indicator. the module of trade signals is based on the class, it's simple example of its use for creation of trade signals with candlestick patterns.

- dark cloud cover and piercing line reversal candlestick patterns
- the recognition of dark cloud cover pattern is implemented in the checkpatterndarkcloudcover method of class
- the recognition of piercing line pattern is implemented in the checkpatternpiercingline method of class

- trade signals, confirmed by cci indicator
- the trading signals to open long or short position must be confirmed by cci indicator.
- the value of cci must be greater/lower than critical levels (-50 for long position and 50 for short position).

- open long position/close short position
- the formation of piercing line pattern must be confirmed by cci indicator: cci(1) less than -50.
- the short position must be closed if the indicator has crossed upward the critical level -80 or crossed downward the critical level 80.

- open short position/close long position
- the formation of dark cloud cover pattern must be confirmed by cci indicator: cci(1) greater than 50.
- the long position must be closed if indicator has crossed downward the -80 or 80 levels.

- creating expert advisor using mql5 wizard
- to create an expert advisor launch the mql5 wizard and specify the name of the expert advisor.
- after that we need to select the modules of trade signals used.
- in our case we use only one module of trade signals.
- adding the signals based on dark cloud cover/piercing line confirmed by cci module of trading signals.

- history backtesting results
- let's consider backtesting of the expert advisor on historical data (eurusd h1, testing period: 2010.01.01-2011.03.16, periodcci=15, ma_period=19).
- in creation of expert advisor we used the fixed volume (0.1), trailing stop algorithm is not used.

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\acdc_pl_cci.mqh>
#include <expert\trailing\trailingnone.mqh>
#include <expert\money\moneyfixedlot.mqh>
input string expert_title         ="expert_adc_pl_cci"; // document name
ulong        expert_magicnumber   =25270;               // 
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.