CandleSeeker is a fully automated Expert Advisor. It is based on the 3 philosophy of trading. It uses custom seek strategy to look for potential break out position.
- Leverage of 1:200, if you have higher leverage, simply adjust margin percent settings.
- Use on H1 chart. It will also work on other time frame, coding does not limit to only H1.
- Use brokers that has tight spread, recommend spread to be about 3 to 6 points. Maximum 12 points.
- Use VPS that has low latency to your broker. It's not compulsory to have low latency like 1ms or 10 ms.
- Latency should be less than 80ms. Latency range 1ms - 85ms is ideal. 100ms over is possible but not recommended.
- Use pending order and stop loss.
- No martingale, grid and hedge.
- Good back test result since 2010.
- Intensive testing on 99.9% tick data to ensure no error.
3 Philosophies of Trading
- Make Pips. Trailing Stop to lock in profit. Trailing Step to move stop when in profit.
- Keep Pips. Break Even to reduce loss.
- And Repeat.
These philosophies are seen in back test result. Study the result and you will see even thou the winning rate is not high, but overall growth still improves.
CandleSeeker official launch date from: 1st Dec 2015
CandleSeeker do not believe in demo trading, EA is test using live trading. Past trading is a result of live trade testing.
CandleSeeker will increase it's cost for every month of profit result. Until an acceptable worth of CandleSeeker is justified.
Full controls where you can use CandleSeeker to your own preference.
- Magic Number: Different pair use different magic number
- CandleSeeker: The CandleSeeker, less = more trade, more = less trade
- Frequency: Frequency of trade, more = more trade, less = less trade
- Margin Percent: The percentage of your free margin you intend to use, this can be use to divide your leverage
- Risk Percent: The amount of risk on your margin for lot to trade
- Fix Lots: Fix lot you intent to trade, 0 = not in use
- Max Lots: Maximum lot you intend to trade
- Stop Loss: Stop loss, in point
- Profit To Move Steps: Profit in points before steps is moved
- Trailing Stop: Trailing stop loss
- Trailing Step: Trailing step, the step to move when in profit
- Breakeven Step: Break even step, the step to move when in profit
- Max Spread: Maximum spread, to open pend) *Limited protection 1, *Average spread
- Max Slippage: Maximum price slippage for buy or sell order) *Limited protection 2
Time settings below are based on broker server time. Please take note of this.
- Trade Mon: Trade on Monday
- Trade Tue: Trade on Tuesday
- Trade Wed: Trade on Wednesday
- Trade Thu: Trade on Thursday
- Trade Fri: Trade on Friday
- EA Work Hour: Start trading hour
- EA Rest Hour: Stop trading hour
- Fri Rest Hour: Friday stop trading hour
- Trade NFP: Trading on NFP
- NFP End Hour: Stop trading hour for NFP
- Comment: Time is money, it's true
*Limited protection 1: The spread from broker varies, this protection is considered limited because Tick happens before check can be done. You should be aware if you are a trader.
*Limited protection 2: The slippage is included in the order command, but in ECN, broker will give the best available price. So if the next avail price is 60 points away from your pending position, this is not slippage.
*Average spread: CandleSeeker also calculate average spread over the last 60 sec, if average spread exceed max spread, pending orders will be delete and look for next opportunity to trade.
Please do not ask me for broker and VPS recommendation. You should do your own research about these.
-Added adjustment for brokers offering 2,3,5 digits.
-Added check for not compatible with 4 digit.
-Improve autolot and fixlot controls to check for insufficient money and margin.
-Added checks for symbol inappropriate for trading.
-Added checks for not enough history.
-Rebuilt trading time filter with error checking.
-Added limits for all input entry.
-Added checks for pairs to trade and pairs suffix
-Added checks for chart time to trade. Only allowed to trade on H1
- Fixed NFP day and time to correctly reflect the option.