I was getting a lot of fake trading signals from price action education, that I had read about on other forums. I decided to have a EA made on this site to test this education, I paid $2,000 for this education and lost money on live accounts, using this education. .It cost me $50 for the expert, it was really cheap, but very well coded and very useful, because it saved me thousands of $$$$$$$$$ of real money by avoiding fake price action signals.As a result of this candles expert advisor, I have found many profitable strategies, simply by back testing various candles set ups.
A candles expert advisor will tell you, if the signal you get from your own analysis , has high probability of success.It will also avoid many fake signals, and lead a hard working trader, to see a success rate of above 60 %.
It can also back test all indicators, to help traders how to use indicators correctly.It can also back test price action candles education.Real traders talk about fake signals, trade break downs, lagging indicators , price action failures etc etc.
Here is the logic for coder to code, if anyone wants to back test charlatan signals, indicators and price action education.
EA will open trades at hourly bar close
hourly bar :10:00 //candle signal hourly bar = close of 10:00 bar.............see alternate signals for ea design
stop loss 200 take profit 100
input string CloseTime="20:00";//trade closed everyday at 20:00, if time is 00:00 trade will close on friday at 19:00
extern int StopLoss=100;
extern int TakeProfit=100;
input string StartTime1="10:00"; if start time is 00:00 it will test all hourly candles
input tipp TypeOfTrade=Buy;//tests buy .........................if sell it will test sells
candle time frame : H1/M30 /H4/DAILY // H0 WILL TEST COMBINATION OF CANDLES
alternate candle formations will be changed in ea :there are hundreds of other formations I use,i have them ready in following formats
if(iClose(NULL,PERIOD_H1,1)<iOpen(NULL,PERIOD_H1,1))// if alternative candle formations are input ea will test them
put a indicator testing code with 3 moving averages for back testing indicators and moving average systems.
only purpose of ea is to back test candle formations probabilities, indicators and moving average systems profitability.
It is to be used only for back testing candles, if it can't back test ,it is useless to me. mql4 source codes required
Are you kidding at us ?
Can you please provide the proof of your logic to all of us?I hope you are not spamming ... you have the proof.If not so your login is the charlatan one ...
This is serious stuff .
A few price action charlatan educators have disappeared, after I published the back test reports, these were based on their strategies and education.
Okay, but how many ppl on this forum don't know a closure higher than an opening is a buy candle & vice versa ?
Come on !!!!
A closure higher in a downtrend is a sell , you are the first one who does not knot know.Next! Every body has different ideas of how to trade.
You could put 500 MT4 indicators based on moving averages, on the back tester, you will find he results are the same, if you had used only one indicator.500 different people see it differently, it does not get more Bizarre, so re-invent the wheel.
Oh come on ! You're making general rules from isolate cases.
I could open any chart (I open any chart), I could attach to any moving average (I attach to any moving average), I could watch for a downtrend (I watch for a downtrend), I could make a random screenshot to invalidate your rule (I make a random screenshot) :
Any of these bullish candles in a downtrend are or part of a pullback or a reversal :
This is an idealized pattern of Eliott Waves description.
alternate candle formations will be changed in ea :there are hundreds of other formations I use,i have them ready in following formats.
I use hundreds of different logics , they are proprietary , but the idea was everyone can back -test everything, like I do.
I look for positive candles , uptrends /channels , then get caught by fake/charlatan trading signals.I try to back test these.
use it on a real account , it is all theory.