GoldWick Candle Rejection
- Experts
- 버전: 1.0
- 활성화: 5
GoldWick Candle Rejection is an Expert Advisor for XAUUSD (Gold) that makes every decision on closed candles only. It looks for rejection wicks in the direction of the trend and for two closed candles of the same colour. Every trade has a stop-loss and a take-profit.
HOW IT TRADES
- Signal 1, rejection wick: when the last closed M15 candle has a long lower wick (default at least 3.00 USD on gold), it opens a buy; a long upper wick opens a sell. By default the wick must point in the direction of the EMA 50 trend.
- Signal 2, two candles: when the last two closed candles have the same colour, it opens a trade in that direction. A trend filter for this signal can be switched on.
- The two signals can work independently, or you can require both to agree. If they point in opposite directions, no trade is opened.
- Decisions are made once per candle, after it closes. One trade per candle and one open position at a time by default.
RISK MANAGEMENT
- Fixed stop-loss and take-profit on every trade (default 10 / 20 USD price distance on gold).
- Risk % per trade: the lot is sized so that hitting the stop-loss costs about the chosen % of equity (default 0.5%). A fixed lot can be used instead.
- Daily loss limit (default 3% of day-start equity) and an optional maximum drawdown stop.
- Optional trailing stop.
- Free-margin check before every order; the lot is reduced or the trade is skipped if margin is insufficient.
FILTERS
- Maximum spread and optional trading hours (server time).
RECOMMENDATIONS
- Symbol: XAUUSD (or your broker's gold symbol). Distances are set in points on the 2-digit gold scale (100 points = 1.00 USD); brokers quoting 3 digits are scaled automatically.
- Attach to any chart of the symbol; the signal timeframe is set in the inputs (default M15).
- Account: hedging or netting. Low-spread accounts are preferred for gold.
- Start on a demo account with the default 0.5% risk. Use a VPS for 24/5 operation.
- Use a different magic number for each instance.
MAIN INPUTS
- Signal timeframe, Rejection wick on/off, Minimum wick (points), Two-candle signal on/off, Minimum candle body (points)
- Trend EMA period, Trend filter for each signal, Require both signals
- Stop-loss and take-profit (points), Trailing stop on/off, start and distance (points)
- Risk per trade (%), Fixed lot, Maximum lot, Maximum open positions, One trade per candle
- Max spread (points), Trading hours
- Daily loss limit (%), Maximum drawdown stop (%)
IMPORTANT
This EA does not use martingale, grid or averaging. Every position has a stop-loss.
Trading gold, forex and CFDs is high risk and you can lose your capital. No trading system wins every trade, and past or backtested results do not guarantee future results. Only trade money you can afford to lose and always test on a demo account first.
