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REGISTER PARTICIPANTS Expert Candletrend Ea Mt4

Discussion in 'Forex Market MQL5' started by Emma McNeill, Oct 6, 2020.

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  1. Emma McNeill

    Emma McNeill Moderator
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    #candletrendea

    candletrend-ea-logo-200x200-7574.png

    This Expert Advisor is based on previous candlestick's price direction. Seven modes of operation with option to reverse signal. Assuming that current trend can be identified by checking status of one
    recent candlestick I have added additional strategies: 2/2, 2/3, 3/3, 3/5, 4/5, 5/5 candlesticks. For "1/1 Candles (Mode 1)": if previous
    candlestick's base currency has increased in value in reference to quote
    currency (close price is higher than open price) - uptrend is presumed
    and buy order is placed; otherwise sell order is placed - if previous candlestick's base currency value has decreased in reference to quote currency (downtrend).

    External parametersSignal settings:
    • SignalMode:
      • 1/1 Candles (Mode 1) - if 1 previous candlestick's close price is higher than open price then
        buy order is placed, otherwise if 1 previous candlestick's open price
        is higher than close price then sell order is placed.
      • 2/2 Candles (Mode 2) - if 2 previous candlestick's close price is higher than open price then
        buy order is placed, otherwise if 2 previous candlestick's open price
        is higher than close price then sell order is placed.
      • 2/3 Candles (Mode 3) - if any 2 candlesticks' close price is higher than open price within
        the range of 3 previous candlesticks then buy order is placed, otherwise
        if any 2 candlesticks' open price is higher than close price within
        the range of 3 previous candlesticks then sell order is placed.
        Examples: white, black, white - buy order is placed; white, white, black - buy
        order is placed; black, white, black - sell order placed; white, black, black - sell
        order placed (in these examples white candlestick is the one that has
        close price higher than open price, while black candlestick is the one
        that has open price higher than close price.
      • 3/3 Candles (Mode 4) - if 3 previous candlestick's close price is higher than open price then
        buy order is placed, otherwise if 3 previous candlestick's open price
        is higher than close price then sell order is placed.
      • 3/5 Candles (Mode 5) - if any 3 candlesticks' close price is higher than open price within
        the range of 5 previous candlesticks then buy order is placed, otherwise
        if any 3 candlesticks' open price is higher than close price within
        the range of 5 previous candlesticks then sell order is placed.
    • 4/5 Candles (Mode 6) - if any 4 candlesticks' close price is higher than open price within
      the range of 5 previous candlesticks then buy order is placed, otherwise
      if any 4 candlesticks' open price is higher than close price within
      the range of 5 previous candlesticks then sell order is placed.
    • 5/5 Candles (Mode 7) - if 5 previous candlestick's close price is higher than open price then
      buy order is placed, otherwise if 5 previous candlestick's open price
      is higher than close price then sell order is placed.
    • Reverse trade signal (true or false) - changes signal to its opposite (for buy - sell order is sent, for sell - buy order is sent)
    Order settings:
    • Take Profit**
    • Stop Loss**
    • Lot size
    • Slippage**
    • Magic number
    **These values are set in pips (0.0001). 1 pip = 10 points for 5 digits broker.
    The logic behind Expert Advisor's algorithm[/b]
    It may seem
    that single candlestick is not sufficient statistical data to
    identify the current trend, however if a trend is strong enough, then corresponding candlesticks will prevail and show up repeatedly.

    Additional modes added to this strategy may detect current trend with higher accuracy. Signal lagging is from 1 up to 5 bars, depending on
    mode of operation.

    Hedging (FIFO) and Order processing
    [/b]
    This Expert Advisor is FIFO "First In First Out" compliant, therefore
    hedging is not possible. An order is sent by bar
    and closes by tick.

    candletrend-ea-screen-8495.png candletrend-ea-screen-5028.png candletrend-ea-screen-7595.png candletrend-ea-screen-3741.png candletrend-ea-screen-3337.png

     
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