Thread: Follow the BIG Candle

This is a very simple idea for Auto-Trading (using Expert Advisor)

My notion would be to follow the major candle. Open a trade in the direction of this candle.

Big Candle is recognized as follows:
The size of candle (from Low to High) is greater than ATR(atr_period) x ATR_Multiplier

So for example, for GBP/USD, H4, suppose ATR(21) has been 30 pips, and we place ATR_Multiplier to 2.5, so we are searching for H4 candles together with range gt; 2.5 * 30 = 75 pips.
So If High-Low of current H4 candle reaches 75 we go extended if candle is up, and we go short if candle is downward.
(There's an Choice to open a trade in the current candle (recommended) OR Await the candle to close)

Take Profit, Stop Loss and Trailing Stop could be of Fixed Pips or Multiple ATR (recommended).

It is better to utilize big TP in order to use Trailing Stop which produces better Rratio.
EA will shut the commerce if an reverse candle appears, and opens a new commerce in the other direction,
Or will wait for SL or Trailing Stop or TP reached and wait for one more trigger.

Expert Advisor versions:Version 1: Big_Candle_01, with initial parameters Version 2: Big_Candle_02, with eliminated mended pips and added parameters for Close on Opposite Signal MA Version 2 for older MT4 assembles lt; 600: Big_Candle_02_x Version 3: Big_Candle_03, with added parameters for Break Even Stop Candle Effective Size Version 3 for older MT4 assembles lt; 600: Big_Candle_03_x Verison 4 Big_Candle_04 Newest, see article # 226 on Page 14
Khalil

Here's the EA.

Parameters :Tp_pips: Take Profit in Pips, default 0 (in order to utilize ATR multiples) sl_pips: Quit Loss in Pips, default 0 (in order to utilize ATR multiples) ts_pips: Trailing Stop in Pips, default 0 (in order to utilize ATR multiples) If you prefer to utilize the aforementioned (Fixed Pips rather than ATR multiples, notice if a broker is using 4 or 5 digits. For 4-digit brokers 100 means 100 pips, while for 5-digit brokers it signifies 100 points, so change it to 1000 if you want 100 pips)atr_period: default 21, then you can use other price but its better less 14. This is used to get the typical candle size. Atr_multiple: default 2.5, this is the actual trigger for transaction open/close. For larger time frames this multiplier will get bigger, for smaller time frames it must be bigger. (2,2.5,3) are acceptable for H4 timeframe. For Daily you can try 1.5 or two. For H1 3,4,5 and so on. Tp_atr: Take profit in terms of ATR multiples, set it High (50,100... etc), as we're wanting to use Trailing Stop for better RR ratio sl_atr: Stop Loss in terms of ATR multiples. Determined by which pair you're trading (3, 4 or 5 are great for GBP/USD) ts_atr: Trailing Stop in terms of ATR multiples. Again depends upon which pair you're trading, 5 is fantastic for GBP/USD candle_period: default 0, means to open a trade prior to the current candle shut. 1 in the event that you prefer to open after candle close. 0 is advocated in order to make the most of the big candle. risk_perc : Default 0.02 (2%). This is actually not risk percent, it's the automatically calculated commerce size (lots) as a proportion of the current balance (so if set to 0.02 and your current balance is 10,000, the transaction will be opened using two micro lots) fixed_lots: default 0. If you prefer to utilize fixed lots rather than balance precentage it's possible to set this field to 0.01, 0.1, 0.5, 1... etc. depending on your balance. And the system will use this volume to get all transactions. Trail_stop_jump: default 10 pips (for 5-digit broker switch to 100). In order to not send change orders, it's much better to set this to some min. Of 5 pips. That's it. Give it a try on DEMO, and discuss your feedback.


I know there could be a number of ways to improve this EA.

Within the upcoming few articles I will share some of the testing results.

Good Day,

Khalil
https://www.forexforum.co.za/attachm...1485438931.ex4

Fine, so the calculation to start new order imply where the order start automatically. . right? I will get it to try. Will be back here with the outcome. Which best time you suggested?

These are the test results for GBP/USD, H4 from 1/1/2013 to 31/12/2013.
Parameters :
tp_pips = 0,sl_pips=0,ts_pips=0,</b>
atr_period=21,atr_multiple=2.5,</b></b>
tp_atr =50,sl_atr=3,ts_atr=5,
candle_period=0,
risk_perc=0.02 (2%),fixed_lots=0,
trail_stop_jump=10</b>

Originally Posted by ;

nice, or so the calculation to start new order mean where the order begin automatically. . right? I will get it to attempt. Will be back here with the result. Which best time you proposed?

Larger time frames are better. Minimum H1, better H4 or Daily.

Thanks for sharing abok, I create a few evaluation and gotta benefits, they all make prfit. Im will post the charts here shortly. .

I've thought of some Developments on the EA:

1. Contain a moving average parameter in order to choose only the transactions that go with the Trend.
2. Ignore Signals which are far too far from the moving average.
3. Take Partial Profit at specific distance from the moving average, and leave the rest trailed.

I'm gonna incorporate these modifiion from the next release.

New thoughts are welcome,

Happy Trading

Waiting

What MA Span are u looking at 55,60,100,or 200 MA

Originally Posted by ;

What MA period are u looking at 55,60,100,or 200 MA

Almost completed, MA period will probably be settable by user. However I think it should be small (20) for Large time frames and big (200) for smaller time frames.