This Forex Candles Power Robot analyzes the candles, determines their strength and volume. It trades when there is a high probability of continuing a trend that has formed a little earlier (based on several candles, the number of which is adjustable). Has the ability to use several methods for analyzing the strength of movement by candlelight. Many options are customizable.
- Lots – lot size;
- MinProfitForAutoClose – automatic closing of a transaction upon a return signal when the profit in points exceeds this value (0 – do not use automatic closing of transactions, they will be closed only by take profit or stop loss).
- Max spread – the maximum spread for opening a transaction (for accounts with a floating spread, so that the transaction opens when the spread is not too large);
- Magic – a unique identifier (it is necessary to make it different if several expert advisors are running in the same terminal);
- StopLoss – stop loss (in points), with a dynamic task, it can be less;
- TakeProfit – take profit (in points), with a dynamic task, it can be less;
- Factor dynamic TakeProfit – coefficient of dynamic take profit (0 – do not use);
- Factor dynamic StopLoss – coefficient of dynamic stop loss (0 – do not use);
- PowerCandlesMethod – methods for calculating the power of candles;
- MinimumStrengthForAllMethods – minimum signal strength (number of signals) when all calculation methods are enabled (1-5);
- CandlesFactor – coefficient for calculating the power of candles (recommended from 0.5 to 5);
- CountCandles – the number of candles for calculations and finding the average length (recommended from 10 to 100);
- CountCandlesInRow – the number of candles in a row, where each new one is stronger than the previous one (recommended from 1 to 5);
- Count volume candles – the number of candles for calculating volumes (recommended from 5 to 100);
- CandlesVolumeAverage – enable calculation of the average value of volumes;
- CandlesVolumeFactor – coefficient for calculating the volume of candles;
- ADXForStrengthPower – ADX indicator period for correction of CandlesFactor coefficients (0 – do not use);
- ADXPeriodForCalculations – period of the ADX indicator for calculating signal strength;
- MinADXLevel – the minimum required level of the ADX indicator to open deals;
- MinHighLow – minimum length (with the exception of the following parameter) of the last closed candle to open a trade;
- MinHLFactorForADX – calculation coefficient minimum length of the candle, depending on ADX (0 – not used);
- FastOptimizationParameter – parameter for fast optimization of the EA. The higher the value, the faster the optimization, but the quality of the trade is worse. For real trading, it is better to set the values to no more than 1;
- ProfitToLossRatio – profit to loss ratio (during testing);
- MaxLossesCount – the maximum number of losing trades after which to stop trading (0 – not set);
- CommentToOrders – comment on opening deals;
- ShowInformation – show information (true – show, false – do not show).
Copy and paste the file into the MQL4 Experts folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Experts (paste here)