mql5

The NRTR indicator and trading modules based on NRTR for the MQL5 Wizard

In this article we consider an indicator that builds a dynamic price channel. A trading Expert Advisor is created based on this channel. Such systems can perform well in trend periods, but give a lot of false signals in flat movements. Therefore additional trend indicators are required. Choosing an appropriate indicator is not an easy task, and the choice often depends on specific market conditions. Therefore, a good solution is to provide for a possibility to quickly connect any selected indicator to a ready trading system.

That's why we will use the following approach. We will create a special module of trading signals for the MQL5 Wizard. Later on we will be able to create a similar module based on any selected trend indicator to produce Yes/No signals indicating the presence or absence of a trend. A combination of multiple modules can be used when creating a trading system, so we can easily combine various indicators.