Free Price Action Trading Expert Advisor
The EA is available free on request and it uses Consecutive Candles and Wick Percentage, The strategy rule for both indicators and Buy and Sell trade entry are mentioned below.
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| Price Action Trading Expert Advisor Robot Scenario |
Long:
1) Minimum 4 consecutive candles closing down including the current candle. If the current candle closes up, there must be a minimum of 4 consecutive candles closing down on the previous candle. I have attached an example image.
2) The signal bar must have a bottom wick greater than 50% of the total candle body with no top wick.
3) Entry long will be a market order at the open of the bar after the signal bar
4) SL set to the distance between the Open and lower wick of the signal bar * a SL distance multiplier of 1. (t0 Open-t1 Low)*1
5) TP set to 2:1 risk-reward.
6) Position size will be 0.5% of the equity balance using the SL calculated in Step 4.
Short:
1) Minimum 4 consecutive candles closing up including the current candle. If the current candle closes down, there must be a minimum of 4 consecutive candles closing up on the previous candle. I have attached an example image.
2) The signal bar must have a top wick greater than 50% of the total candle body with no bottom wick
3) Entry short will be a market order at the open of the bar after the signal bar
4) SL set to the distance between the upper wick of the signal bar and the Open * a SL distance multiplier of 1. (t1 High-t0 Open)*1
5) TP set to 2:1 risk-reward.
6) Position size will be 0.5% of the equity balance using the SL calculated in Step 3.
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| Price Action Trading EA Robot |
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