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Bermaui Tall Candle

This expert is build depending on Thomas Bulkowski research results on daily candle range, as he found that tall price candles appear at the top of minor highs and the bottom of minor lows.

Bermaui Tall Candle Light depend on the next steps to find trading opportunities:

A - For sell positions

  1. Search for a candle with a range taller than ATR10.
  2. The candle high price should be higher than the previous two candles.
  3. RSI2 should be above 80% to detect extreme overbought.
  4. Add more lots as RSI2 stay in overbought extreme.
  5. Exit when RSI2 go under 80%.

B - For buy positions

  1. Search for a candle with a range taller than ATR10.
  2. The candle low price should be lower than the previous two candles.
  3. RSI2 should be under 20% to detect extreme oversold.
  4. Add more lots as RSI2 stay in oversold extreme.
  5. Exit when RSI2 go above 20%.

Bermaui Tall Candle Features

  • This is a rather aggressive short-term strategy designed to participate in an ongoing trend. It is not designed to identify major tops or bottoms.
  • This EA trade RSI2 plus tall candle pattern and add to losing positions until exit.
  • You can choose between adding a fixed lot or a mathematically increasing lot ( 0.01 – 0.02 – 0.03 – 0.04 ….etc.).
  • Attach Bermaui Tall Candle Light to a DAILY Chart.
  • Bermaui Tall Candle Light will check on the open of the day if to buy sell or do nothing.
  • It is recommended to trade a portfolio of FOREX pairs at the same time to reduce risk as much as possible.
  • Minimum deposit for each 0.01 standard lot is between $2000 to $3000 to trade a portfolio that contain 10 FOREX pairs.

Bermaui Tall Candle settings

  • TradingSide = Choose between trading buy trades only or sell trades only or both sides of the market.
  • EnterATRPeriod = ATR Value that is used to compare current candle with. (Default is 10).
  • BreakLevel = if current candle tall is greater than this value then it is considered a tall candle. (Default is 180% which mean that current candle range should be 180% from current ATR to consider this candle as a tall one).
  • ExitRSIPeriod = Time period for RSI used for exit. (Default is 2 periods).
  • ExitLongLevel = if RSI cross this level to the upside then close all buy orders.
  • ExitShortLevel = if RSI cross this level to the downside then close all sell levels.
  • AddMoreLots = If ( = No) the EA will add make all opened positions equal to FirstLot. If ( = Yes) the EA will add each new position in a mathematical sequence ( 0.01 – 0.02 – 0.03 – 0.04 …etc.).
  • MaxOrdersOpened = If number of opened trades with the same magic number equal number of this parameter the EA won't open any new trades until all opened trades are closed.
  • FirstLot = if there is no opened trades then the first open one will be with this lot.
  • UserSlippage = slippage value in pips.
  • UserComment_OB = a comment for the EA's sell orders.
  • UserComment_OS = a comment for the EA's buy orders.
  • MagicNumberBuy = Magic number for buy orders.
  • MagicNumberSell = Magic number for sell orders.


  1. Before using on a live account, test the EA with minimal risk.
  2. VPS is recommended.
  3. For best results, use the leverage of 1:200 or more (1:200/1:500).
  4. Low spreads + low commission + high quality execution are important when choosing a broker to trade.

I hope you find Bermaui Tall Candle a good investment tool for you.

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