Candelabra
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I have several EAs, and I will post them all, but for now here is my most recent one.
This EA is basically an adaptation of the Pattern_Recognition_Master_v3 indicator, which detects and displays a bunch of the more common candlestick reversal patterns.
Although the pattern recognition is unmodified (although I removed the commented segments to make it more selective), I did add a few functions that I figured would improve the effectiveness.
The main addition I made is the use of the ZigZag indicator to determine the direction of the trade. It is my understanding that when a reversal signal appears, it must go AGAINST the main trend for it to be a true reversal signal; thus the ZigZag indicator is checked to make sure that this is the case.
Also I threw in RSI....not sure why... I think I was drunk.
It only seems to work alright on the daily charts. Try it on the EURUSD (Daily) from 2007-Today.
Here are the results for that:
I only wish that earlier backtest results (say, 2000-2007) yielded similar results. Do you guys think that this profit is a statistical anomaly?
Hopefully this EA can be improved upon. I mean....candles can't be complete bullshit...can they?
Anyways here are the files.... if you want to edit the code/recompile it then place Patterns.mqh and common.mqh in your experts/include folder and Candelabra.mq4 in your experts folder.