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MT4 Expert Candelabrum

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Administrator
Staff member
Country
USA
The MQL5 Metatrader Market product is available upon purchase of the VPS server: Package #3, Package #6

Expert Candelabrum

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Candlestick Patterns & Fibonacci Levels. No dangerous & risky stratrgies.

CANDELABRUM EA determines pivot points based on candlestick patterns and the Bollinger bands indicator and opens orders in the direction of a new trend. Each order has a specified take profit level and is protected by stop loss. To increase the number of profitable deals, a unique Split system can be used, partially closing an order when it reaches specified levels. For complete risk control, the trading system at the opening of each transaction allows the use of a calculated order volume. All calculations are carried out as a percentage of the size of the candlestick model using Fibonacci levels.

When working on the recommended periods (H4), the adviser does not require special trading conditions and works with almost any type of accounts.


Description & Presets


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Features
No dangerous & risky strategies
Relative levels
Hard Stoploss & Takeprofit
Manual / Risk / Auto volume
Split system / Trailing Stop
Spread / Time control
2017-2020 99% tick quality optimized

Input parameters
Magic - magic number
Comment - comment
Slippage - max slippage, point
Lot Max - max volume of every position, lot
Spread Max - max allowed value of the spread for opening / modifying / closing a position, point
Range Min - min allowable size of a candle body, point
File Name - data storage file name, must be different for each chart, if empty the name will be automatic (path C:\Users\[UserName]\AppData\Roaming\MetaQuotes\Terminal\[Terminal]\MQL5\Files\[filename.bin])
Timeframe - timeframe
Direction - allowable positions type
LongAndShort
OnlyLong
OnlyShort
--- Volume ---
Volume Type
LotManual - based on Lot Main
LotRisk - based on Factor Risk
LotAuto - based on Factor Auto
Lot Main - main lot (valid with LotManual / LotAuto), lot
Factor Risk - max allowable loss for each position in % of AccountBalance (valid with LotRisk), %
Factor Auto - account funds per each Lot Main value, lot = ACCOUNT_MARGIN_FREE / Factor Auto * Lot Main (valid with LotAuto), $
--- Levels ---
Takeprofit - takeprofit, %
Stoploss - stoploss, %
--- Time ---
Hour Start - hour to open a position, hour
Hour End - hour to stop opening a position, hour
Hour End Friday - hour to stop opening a position on Friday, hour
--- Models ---
Model 1 - activate Model 1 (three inside pattern)
Model 2 - activate Model 2 (engulfing pattern)
Bands Period - Bollinger Bands period
--- Active Stoploss ---
Stoploss Type
Regular - hard stoploss
Trailing - trailing stop
Trail Start - start level of trailing stop, %
Trail Stop - distance of trailing stop, %
--- Split ---
Split - enable/disable
Split Start - start level of Split mode, %
Split Step - step of Split mode, %
Split Lot - percent of the remaining order volume closed at each step, %
--- Graphics ---
Color Buy - Buy levels color
Color Sell - Sell levels color
Display Trades - enable / disable to display the trades

Default settings
EURGBP, H4

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Last edited:
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VPSforex.co does not guarantee the profitability of transactions carried out in its systems. We have no knowledge of the level of money that you trade or the level of risk that you take on each trade. You must make your own financial decisions, we are not responsible for money earned or lost as a result of using the servers on this website.