Let’s have our discussions about the Candles EA under this topic. Suggestions and set files can be shared here.
Price action based EA built using the supply and demand + channels + IC indicators with normal TP and SL. EA places orders below resistance and above support levels. Channels control the overall direction of the trades so that it allows sell only or buy only depending on the channel is rising or falling. The IC indicator is a third filter so that is enabled, EA will place buy orders if the channel is rising + price above the support level.
Each indicator has 4 different time frames to activate so that you can choose from 1 - 4 time frames. Otherwise, you can use 1 - 3 indicators to filter the trades.
Example of the Best case scenario:
- The price is at the bottom edge of a rising channel
- The price is above support level
- The IC indicator signal changed to buy.
- The EA will place buy order.
Thanks for the new EA - will test.
A couple of cosmetic observations/bugs that I noticed on instalation and first run:
- The settings say that amounts are in pips, but the annotations on the chart (eg TP) say “points”
- Chart annotation for Trailing Start seems to say “pipss”
Hope to have some more substantive observations after proper testing.
Here is the set file to start optimizing the EA. Please share your results with everyone in this topic.
temporary ea.set (4.9 KB)
Set file for optimization with preselected Fixed TP and SL
temporary ea fixed tp sl.set (4.9 KB)
I install at 1H TF and use the set file with fixed sl and tp
but no trades until now. It has been more than an hour.
Please use the optimizer with your trading account conditions, then choose the best lowest drawdown setttings and run it using the visualizer to see the entry conditions.
Entry conditions as explained above, are Buy at the bottom of a rising channel. So, if the Channel time frame is H1 or higher, the EA will trade less frequently waiting for the moment the price hits the bottom or top edges.
I’m running an optimisation of this set with AUDUSD. It’s taking a very long time but will post results once I have something worth sharing.
Disable all visual options to make the EA faster in the optimizer.