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Seven Candles

This strategy searches for trade opportunities based on what area the close price is, in comparison with Moving Average.

In order to be triggered, a pattern between candles also must occur. The EA works well on trending markets.

It has been initially developed for stock markets indices (SP500, NASDAQ, etc) on Dailychart entering long positions only. However, I refined the strategy in order to enter short positions as well.

It does not use stop loss or take profit, so the losing trades outweigh the winning ones. Thinking about that, this EA has further functionalities built-in:

  • Stop Loss
  • Take Profit
  • Trailing Stop
  • Timer function: setup what time robot should trade
  • Some others

The EA works on any symbol and timeframe.

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Live Signal available here:  https://www.mql5.com/en/signals/2223440   (high risk 7.5%) Estimados Traders, Me complace presentarles nuestro revolucionario nuevo asesor experto, "Trade Fusion", una solución de vanguardia que está preparada para transformar el mundo del trading automatizado. Trade Fusion es el resultado de meses de investigación intensiva, desarrollo y pruebas rigurosas, que combina tecnología de última generación con las estrategias de trading más sofisticadas para ofrecer una e
XG Gold Robot MT4
Marzena Maria Szmit
4.57 (21)
The XG Gold Robot MT4 is specially designed for Gold. We decided to include this EA in our offering after   extensive testing . XG Gold Robot and works perfectly with the   XAUUSD, GOLD, XAUEUR   pairs. XG Gold Robot has been created for all traders who like to   Trade in Gold   and includes additional a function that displays   weekly Gold levels   with the minimum and maximum displayed in the panel as well as on the chart, which will help you in manual trading. It’s a strategy based on  Price
Bandwagon
ADELYN CASTILLO
4.92 (25)
240% de ganancia en su mes 22. P uede consultar la cuenta Bandwagon Live con rendimiento de 2 años, Bandwagon 2 años o Bandwagon V2. *NOTA : ¡Ahora con un 50% de descuento! ¡Consigue tu copia ahora! Espere un aumento de precio cada mes *ADVERTENCIA: DI NO A LA PIRATERÍA. Tenga cuidado con los usuarios que solicitan una copia de Bandwagon EA. Bandwagon puede detectar piratería y, si se detecta que su cuenta hace tales cosas, no puedo prometer que el EA seguirá funcionando como debería. Caracterí
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The Seven Candles is an Expert Advisor that implements a strategy originally described on the book Short Term Trading Strategies That Work by Larry Connors and Cesar Alvarez. Developed to trade stock indexes (SP500, Down Jones, NASDAQ, BOVESPA, Nikkei, etc.), this strategy seeks for trading opportunities based on where the close price is in relation with Simple Moving Average indicator. However, in order to be triggered, a pattern between candles also must occur. The original strategy seeks long
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Pavel Malyshko
9826
Pavel Malyshko 2019.04.05 23:17 
 

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2115
Sergey Zhuravkov 2017.04.27 00:36 
 

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Versión 2.1 2020.04.08
Robot updated to accommodate new MetaTrader builds
Versión 2.0 2017.04.13
- All text and parameters are in English

- Status on Screen

- Better Performance

- Ability to set another candle look-back for exit