Hello Everyone,
I am working on an EA that trades candle stick patterns, i.e.; Morning Stars, Evening Stars, etc... I thought I would share it with the forum so we can come up with ways to make it profitable. PLEASE test it and make suggestions on how to improve it. As the EA progresses I will update the info below. NOTE, I am not a professional programmer, but I can figure out what is needed to make the EA function as expected. Any programming suggestions are welcomed as well
Right now, the biggest issue I see is the Stop Loss has to be set high. This kills the risk:reward ratio!
The current strategy is this:
Pair: EURUSD
Timeframe: 1hr
Patterns Detected:
I am working on an EA that trades candle stick patterns, i.e.; Morning Stars, Evening Stars, etc... I thought I would share it with the forum so we can come up with ways to make it profitable. PLEASE test it and make suggestions on how to improve it. As the EA progresses I will update the info below. NOTE, I am not a professional programmer, but I can figure out what is needed to make the EA function as expected. Any programming suggestions are welcomed as well
Right now, the biggest issue I see is the Stop Loss has to be set high. This kills the risk:reward ratio!
The current strategy is this:
Pair: EURUSD
Timeframe: 1hr
Patterns Detected:
- Morning Star (Long Trade)
- Evening Star (Short Trade)
Filters:
- RSI(21)
Long Signals:
- Morning Star Pattern Detected
- RSI is below 50, indicating Morning Star is a trend reversal
Short Signals:
- Evening Star Pattern Detected
- RSI is above 50, indicating Even Star is a trend reversal
Version: 1.00
- Detects Morning Star and Even Star Patterns
- Utilizes RSI as a filter
- Can trade on only certain days and time
- Places hard Stop Loss and Take Profits
- Utilizes Trailing Stops Loss and Take Profits
- Can define order Magic number
- Can define the Lots and Slippage
- Can be set to trade only Long, Short, or Both
- Only has one open trade at a time.
- Can be set to "Log" only.
Attached File(s)
Candle Stick Pattern Auto Trader v1.00.ex4
10 KB
|
3,223 downloads
Options - v1.00.txt
1 KB
|
1,935 downloads
test - v1.00.zip
35 KB
|
2,091 downloads