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Power Candle

This EA operates when there is a huge body candle formation and takes advantage on the price-action momentum. When the pattern is formed the EA enter in the market with a tiny stop (5 to 10 pips) and a RR of 1:2. There is also a Trailing Stop to decrease risk and a Stop Profit Management to protect profits.

This Expert Advisor works best on EURUSD M15 (default and best results), EURUSD H1 and USDCAD M15. (It's also tested on other pairs like USDJPY, EURJPY, GBPUSD with good results, but to have the best DD use it on EURUSD and USDCAD).

Here the settings:

  • Magic Number: identification number in order to run this EA with other EAs.
  • risk: risk in percentage based on the balance (for example, 1 means 1% risk)
  • compounding: improve the money management with the risk based on the compounding effect.
  • lots: option to open orders with a predefined lots, specified in the option lots. If is 0, this option is not used.
  • distCandle: minimum distance of the body candle. 
  • distSL: distance of the Stop Loss in Points.
  • RR: distance of the Take Profit target based between the distSL and the Risk-Reward Ratio.
  • StopProfitStrategy: number that define the Strategy of the Stop Loss management during the trade lifetime (leave the default number or put 0 to not use this option).
  • TrailingStopMovement: this option allows moving the SL dynamically (Point by Point) until it reaches the breakeven point. It is a Trailing Stop till breakeven Point.
  • filterCloseBeforeWeekend: if is true the EA close and delete all orders on Friday at 22:00 broker time.
  • partialRange1/partialProfits1: range calculated in percentage from the total distance of the Take Profit (for instance if partialRange1 is 0.5 and partialProfits1 is 0.333, it means when the trade reaches 50 Points in profit (partialRange1 x distSL x RR = 0,5 x 50 x 2 = 50) it takes partialProfits1 0,333 (33% or one third of the position in profit).
  • partialRange2/partialProfits2: same at the previous one, in this case partialRange2 has to be greater than the first one, otherwise if 0 is not used
  • activateMoneyManagement: the money management included is the Anti-Martingale system that increase performances and lower the DD (I created a Money Management algorithm included!)
  • commentTrade: put your preferred comment or leave blank to the default comment

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