The Expert Advisor analyzes candlestick patterns on a selected period. Once the found pattern is repeated in the current market situation, the EA opens an order (or orders) in the expected trend direction. In addition to candlestick patterns, the Expert Advisor takes into account price action - the ratio of High-Low and Open-Close of candlestick groups.
An additional filter is the standard MACD indicator on a higher timeframe.
The Expert Advisor can use pyramiding and averaging depending on the Max Orders parameter.
Recommended trading symbols:
- EURUSD 5m;
- GBPUSD 5m;
- EURGBP 5m;
- USDJPY 5m.
- Lot, if Risk = false - this trading lot will be used if Risk = false;
- Risk on/off - enabling automated money management;
- Risk Percent - risk percent per trade;
- Take Profit - take profit value in points;
- Stop Loss - stop loss value in points;
- Start Trailing Stop - profit in points, reaching which the EA will enable trailing stop;
- Max Orders - the maximum number of open orders at a time (averaging/pyramiding);
- Comment to order - a comment to the EA's orders;
- TF for MACD - timeframe for the MACD indicator;
- FAST EMA - fast EMA of the MACD indicator;
- SLOW EMA - slow EMA of the MACD indicator;
- SIGNAL - signal line of the MACD indicator;
- Magic Number - magic number for the EA's orders;
- Slippage - allowable slippage in points.