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Automated-Trading 2011.01.20 13:45 

MQL5 Wizard - Trade Signals Based on Reversal Candlestick Patterns:

MQL5 Wizard provides the automatic creation of Expert Advisors (see MQL5 Wizard: Creating Expert Advisors without Programming).

The CSignalCandles class provides trade signals, based on reversal candlestick patterns. The strategy called "Signals based on reversal candlestick patterns" (when creating EA automatically in MQL5 Wizard).

The idea of the system is to indentify the reversal patterns using the calculation of the composite candle. The reversal patterns is similar to the "Hammer" and ">Hanging Man" patterns in Japanese candlestick analysis. But it uses the composite candle instead the single candle and doesn't need the small body of the composite candle to confirm the reversal.

Testing Results of the Expert Advisor with trading signals, based on the reversal candlestick patterns

Author: MetaQuotes Software Corp.

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