Forex Easy Candles Robot

This is a simple and free Forex Easy Candles Robot that trades candlesticks. It compares several nearest bars and their volumes, and opens a trade based on that data.

The recommended timeframes for this EA are H1, H4, D1, it works with any currency pairs. The parameters always need to be optimized before trading, as well as after some period of trading.

Test results:

Forex Easy Candles Indicator

Parameters:

  • Lots – lot size (if Lots=0, then the lot will be calculated based on the percentage of account free margin);
  • Percentage of free money – the percentage of free margin to open each new trade (works when Lots=0);
  • MaxSpread – the maximum spread for opening trades (on the accounts with floating spread, for the trade to open when the spread is not too large);
  • Magic (unique identifier) – unique Identifier (it must be different for each instance of the EA in the terminal);
  • TakeProfit – order closing price at a certain profit target;
  • StopLoss – the Stop Loss order value;
  • Min high-low candle – the minimum candlestick length (from its high to low) to open a trade;
  • CandlesFactor – the coefficient to determine a bullish or a bearish candlestick;
  • CountCandles – the number of candlesticks to search for a bullish or bearish pattern;
  • CandlesVolume – the number of candles to compare volume;
  • PeriodATR – the period of the Average True Range indicator;
  • MinLevelATR – the minimum level of the Average True Range indicator;
  • Trading start hour – trading start hour;
  • Trading end hour – trading end hour;
  • ShowInfo – show information (slows testing if enabled).

Forex Easy Candles Robot For Metatrader 4

Installation

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)

Other forex indicators and strategies

Leave a Comment