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Forecast Oscillator Expert Advisor Uses New Indicator Arrows at Bar Close

Article MQL5 code base
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Summary

This MetaTrader 5 expert advisor generates trades when a bar closes with a newly appearing colored arrow from the ForecastOscilator semaphore indicator. It requires the compiled indicator file in the terminal's Indicators folder. The description also notes a trading library intended to support brokers with nonzero spreads and simultaneous stop-loss and take-profit settings when opening positions.

The page refers to test results for GBPJPY on a 12-hour chart in 2014, using the advisor's default inputs and omitting stop loss and take profit. It supplies no numerical performance statistics or enough detail to assess the test's robustness, costs, or out-of-sample behavior. The strategy therefore depends on the indicator's signal behavior, which the description does not explain.

Key ideas

  • A trade signal occurs at bar close when a new colored ForecastOscilator arrow appears.
  • The expert advisor requires the compiled indicator file to run.
  • A supporting library is described for nonzero spreads and stop-loss or take-profit settings.
  • The cited test used GBPJPY on a 12-hour chart in 2014 with default inputs and no stops or targets.
  • The page gives no numerical results or robustness analysis.

Tags

ForexTechnical indicatorsBacktestingExecution

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.