CandlestickTrader

The CandlestickTrader Expert Advisor can trade efficiently with the minimum drawdown in case the settings are mild enough. The EA analyzes candles according to a specified algorithm and enters the market if a price movement continues on the timeframe the EA is launched at. The product has been developed for five digits! It has not been tested on four digits!

The EA is launched at different timeframes with the certain parameters described below per each timeframe. Test the settings with your brokerage company, since different brokers may provide different data. Otherwise, I would have simply built all settings into the EA. Select profit and risk at your discretion. The more symbols and timeframes are used, the more frequently trades are made.

If lots of trades have been opened simultaneously and the error alert has appeared, it means that there have not been enough funds to open one of the orders and the EA is to be disabled. In this case, wait for closing of a part of trades and then disable AutoTrading button and enable it again after a few seconds. The EA that did not have enough money will restart and track the chart again. The EA status is shown in the upper left corner of the chart.

Trades are opened infrequently. Market entries are usually performed during strong movements after financial news releases.

Settings

• TakeProfit - take profit
• StopLoss - stop loss. The default value is 1 000. This is approximately 10% of $1 000, while Lot is 0.1
• Lot - order size
• Factor MIN - cut off small candles. Decreasing the parameter leads to more deals. However, the drawdown increases as well.
• Factor MAX - cut off big candles. If you increase the parameter, you may finally meet a large candle followed by a roll-back or a reversal.
• Magiс - individual number for orders if you want a deal to be managed by another EA.
• Comment - order comment.

The lot of 0.1 is recommended for $1 000.

The settings with the drawdown of 8% with no negative deals:

Currency pair	Timeframe	Factor MIN	Factor MAX	Take profit
EURUSD	M30	0.005	0.0055	100
EURUSD	H1	0.0065	0.02	100
EURUSD	H4	0.008	0.0085	1 000
AUDUSD	M15	0.005	0.007	100
AUDUSD	M30	0.006	0.007	150
AUDUSD	H1	0.004	0.0045	150
GBPUSD	M15	0.005	0.03	100
GBPUSD	M30	0.008	0.03	300
GBPUSD	H1	0.008	0.03	300
GBPUSD	H4	0.0125	0.02	100
USDCAD	M15	0.0065	0.008	300
USDCAD	M30	0.0065	0.008	300
USDCAD	H1	0.0065	0.008	100
USDCAD	H4	0.007	0.009	100
USDJPY	M15	0.25	0.6	150
USDJPY	M30	0.275	0.35	150
USDJPY	H1	0.675	1	150

You can pick up the settings for other symbols on your own or find them in this table later.