- This topic is empty.
14.01.2018 at 18:19 #4512DominikAdministrator
A few months ago, I’ve created new Expert Advisor called Big Candle. The principle of operation is simple:
1) Expert Advisor opens orders in the oposite or the same direction as last candle (available to set in parameter: “Invert”) if it detects that:
a) last candle is bigger than amount of points/pips set in parameters,
b) last candle is biger than number of candles from past specified in parameters (additionaly, we can increase or decrease the proportions between them by setting ratio parameter: “R”).
2) We can open trades:
a) only in direction of Moving Average with specified period,
b) only in the opposite direction than MA,
c) in all directions.
3) We can set TP and SL ratio to set them proportional to the size of big candle. There is also possible to set “Max SL” and “Max TP” to limit them.
4) We can set, so called, “Room to the left” as amount of candles to open trades only if the price is extremely high or extremely low (and there is space to the left visible on chart).
5) We can use “Trailing SL” (Trailing Stop Loss).
I think that’s all worth explaining. You will discover the rest by yourself by doing backtests and optimizations.
I give you also some results and set files (but they require refinement for sure).
Enjoy and let me know if you find it as effective strategy. You can describe your ideas, opinions etc.
This version of EA will work until the end of June 2018.
First, I want to see if anyone is interested and if there is any sense to develop it further.
Regards!10.04.2018 at 15:18 #5124TomaszKomSpectator
Hi Dominik, tests look good, so is the idea of developing the EA. But as real trades give often different expectations, we would need demo or live account to have a worthy judgement. And what happened to the Price Action EA that looked so promising ?
Kind Regards31.03.2020 at 13:03 #5125DominikAdministrator
This project has been discontinued from further development.
I’m attaching 2 versions of this product with no expiry limit, but size of lot is hardcoded to 0.01.
If you have questions, please contact me.
- The topic ‘Description of Big Candle’ is closed to new replies.