Candle Cross and Breakout Strategy

Rules and Logic

Candle Identification:

• Consider three candles: Candle1, Candle2, and Candle3.

Candle Cross Conditions:

1. Candle2 must break the high or low of Candle1:
   • If Candle2's high > Candle1's high, this is an upward breakout.
   • If Candle2's low < Candle1's low, this is a downward breakout.
2. If Candle2 does not break Candle1's high or low, Candle1 is marked as a reference point.
   • The EA will wait for any subsequent candle to break the high or low of the marked Candle1 before proceeding.

Trade Entry Conditions:

• Buy Trade:
  • Candle3 closes above Candle2's close.
  • Candle3 does not break Candle2's low.
• Sell Trade:
  • Candle3 closes below Candle2's close.
  • Candle3 does not break Candle2's high.

Risk Management

Stop Loss (SL):

• For Buy Trades: The low of Candle2.
• For Sell Trades: The high of Candle2.

Take Profit (TP):

• The range of Candle2:
   TP=(Candle2’s High−Candle2’s Low)