Trading Breakouts of Overbought and Oversold Indicator Levels
Summary
The document describes an Expert Advisor that trades signals from the i-KlPrice_Vol indicator. It checks for a breakout of an overbought or oversold level when a bar closes, with separate order identifiers and position sizes for normal and strong signals. The two size settings are expressed as shares of the deposit.
The text says the indicator’s compiled file is required and must be installed in the MetaTrader indicator folder. It reports that a test used default EA inputs on EURUSD at the six-hour timeframe during 2017. Stop loss and take profit were not used in that test. Although the document mentions a results chart, it provides no numerical performance figures or details about test methodology, transaction costs, or robustness. The described setup therefore outlines a signal rule and configuration, but offers limited evidence for assessing profitability or risk.
Key ideas
- The EA evaluates indicator signals when a bar closes.
- A trade signal occurs when price breaks an overbought or oversold level.
- Normal and strong signals use separate order identifiers and deposit-share sizes.
- The reported EURUSD test used the six-hour timeframe in 2017 and omitted stop loss and take profit.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.