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Seven Candles for MT5

  • Experts
  • Luiz Tim
  • Versione: 1.3
  • Aggiornato: 26 novembre 2021
  • Attivazioni: 5

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 positions on daily charts only, but the Seven Candles EA can also seek short positions as well.


Long Entry Rules

  • Price is above 200 SMA.
  • Lowest low of last seven candles occurred on last candle.


Short Entry Rules

  • Price is below 200 SMA.
  • Highest high of last seven candles occurred on last candle.


Long Exit Rules

  • Highest high of last seven candles occurred on last candle.


Short Exit Rules

  • Lowest low of last seven candles occurred on last candle.

This strategy boasts a 60%-75% success rate in average and works very well on trending markets. As the original strategy does not uses stop loss nor take profit (because the exit is strictly conditioned by the price behavior), the losing trades outweigh the winning ones. However, the Seven Candles EA has additional built-in features, like take profit, stop loss and trailing stop allowing it to yield different results than the original strategy.


*Expert Parameters

  • Order Type - List with options that inform the EA what trade type it will seek, as follows:
    • LONG ONLY - EA will search only for buy opportunities.
    • SHORT ONLY - EA will search only for sell opportunities.
    • LONG & SHORT - EA will search for both buy and sell opportunities.
  • System ID - Identifies trades opened by the EA.
  • Trade Volume - Lots of each trade.
  • Stop Loss (as points) - Stop Loss.
  • Take Profit (as points) - Take Profit.
  • Trailing Stop Trigger in points (0 turns-off) - When an opened position is on profit, informs the EA when it should perform trailing stop operations. Zero (0) value turns-off this feature.
  • Trailing Step Trigger in points (0 BreakEven) - When trailing stop is going to be triggered, tells EA where it should adjust the first stop value on profit. Zero (0) value puts stop on break-even.
  • Moving Average Period - Period for Moving Average Calculation.
  • Moving Average Calculation Method - Informs the EA how the Moving Average should be calculated. Options are:
    • Simple.
    • Exponential.
    • Smoothed.
    • Linear weighted.
  • Moving Average Calculation Price - Informs the EA what price will be used during Moving Average calculation. Options are:
    • Close price.
    • Open price.
    • High price.
    • Low price.
    • Median price.
    • Typical price.
    • Weighted price.
  • Candle lookback for Entry - Informs the EA how many candles it will analyze for entry.
  • Candle lookback for Exit - Informs the EA how many candles it will analyze for exit.
  • **Trade Start Time - Start time to seek for new trading opportunities.
  • **Trade EndTime - End time to seek for new trading opportunities.

(*) Using default parameters value, the EA will behave exactly as the original strategy described on the book.

(**) Trade time does not interfere with management of opened positions. Also, using default time values the EA will search trades while the market is opened.

This EA works on any pair/timeframe.

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We proudly present our cutting-edge robot, the  Big Forex Players EA  designed to maximize your trading potential, minimize emotional trading, and make smarter decisions powered by cutting-edge technology. The whole system in this EA took us many months to build, and then we spent a lot of time testing it. This unique EA includes three distinct strategies that can be used independently or in together. The robot receives the positions of the  biggest Banks  (positions are sent from our database t
Ai Hybrid Robot MT5
Mansour Babasafary
4.38 (13)
Several experts in one expert With this expert, you can use several up-to-date strategies Enhanced with artificial intelligence Can be used in several popular forex currencies Can be used in the most popular forex time frames Without using high-risk strategies Attributes : Can be used in the EURUSD , GBPUSD , USDCHF , AUDUSD , USDCAD , NZDUSD  currency pairs Can be used in M30 , H1 , H4 , D1 time frames Has profit limit and loss limit Without using risky strategies like martingale or hedg
FT Gold Robot MT5
Marzena Maria Szmit
4.47 (59)
Introducing the FT Gold Robot MT5, your ultimate companion in navigating the intricate world of XAUUSD trading. Developed with precision and powered by cutting-edge algorithms, FT Gold is a forex robot meticulously crafted to optimize your trading performance with XAUUSD pairs . With its advanced analytical capabilities, FT Gold Robot constantly monitors the gold market, identifying key trends, patterns, and price movements with lightning speed. The FT Gold Robot opens 5 positions every day (you
Apocalypse Gold
Xian Qin Ceng
5 (4)
A molte persone piace il trading XAUUSD e io non faccio eccezione. Dopo aver accumulato esperienza di trading e duro lavoro, ho creato questo Apocalypse XAU EA appositamente per il trading di tutte le varietà correlate a XAU, come XAUUSD/XAUEUR/XAUGBP/XAUCHF /XAUJPY/XAUAUD. Tuttavia, considerando che molte persone potrebbero non aver bisogno di scambiare tutte le coppie di valute XAU, ma solo XAUUSD, un EA entry-level diventa molto significativo. Quindi ho deciso di creare Apocalypse Gold, un EA
Engine EA è un consulente esperto avanzato che utilizza diversi indicatori e strategie, fornendo ai professionisti uno strumento di negoziazione automatizzato completo. Offre numerose opportunità commerciali, non è sensibile agli spread e utilizza rigorosi punti di ingresso per avviare con precisione ogni operazione. La strategia si è dimostrata sul mercato reale, con un segnale in tempo reale di DDS basso per un anno. Sia che si tratti di un principiante o di un operatore commerciale esperto,
Fenghuang Rig EA
Sof'ia Vlasova
4.77 (13)
Fenghuang EA utilizes clustering principles in machine learning to analyze data, identifying groups of objects or events with similar features or relationships. It uncovers hidden patterns and categorizes objects by similarities, aiding in the discovery of causal relationships. The EA allows for in-depth data analysis, highlighting significant relationships without risky techniques like martingale, netting, or scalping, making it compatible with various brokerage environments. Read more about th
Aura White Edition MT5
Stanislav Tomilov
4.66 (35)
Aura White Edition is unique Expert Advisor that continues the Aura series of advisors. The Expert Advisor is based on the engine of Aura Black Expert Advisor , but with a number of changes and author's settings for currency pairs. Innovative methods of the programme's approach to trading, and promising performance results are possible thanks to the use of modern technologies and methods. Aura White Edition is a fully automated EA designed to trade currencies only. Working pairs EURUSD, GBPUSD,
Scalper Deriv
Antonio Simon Del Vecchio
4.85 (13)
Presentiamo Scalper Deriv: Eleva la tua esperienza di scalping. Guida dettagliata su come ottimizzare Scalper Deriv qui . File di configurazione e altro   qui Sei tra i trader che trovano la loro passione nello scalping e desiderano massimizzare il loro capitale? Che tu abbia un saldo di $20, $200, $2000, $20000 o addirittura $200000 sul tuo conto, abbiamo la soluzione perfetta per te! Ti presentiamo Scalper Deriv , l'Expert Advisor (EA) progettato per migliorare la tua strategia di trading e
Quantum StarMan
Bogdan Ion Puscasu
4.91 (80)
Ciao a tutti, mi presento: Sono   Quantum StarMan,   il membro elettrizzante e più fresco della famiglia   Quantum EA   . Sono un EA multivaluta completamente automatizzato con il potere di gestire fino a 6 coppie dinamiche:   AUDUSD, EURAUD, EURGBP, EURUSD, GBPUSD e USDCAD   . Con la massima precisione e incrollabile responsabilità, porterò il tuo gioco di trading al livello successivo. Ecco il kicker: non mi affido alle strategie Martingale. Invece, utilizzo un sofisticato sistema di gr
Dark Algo MT5
Marco Solito
5 (60)
Last copy at 399$ -> next price 499$ Dark Algo  is a fully automatic Expert Advisor for   Scalping   Trading on   Eurusd . This Expert Advisor is based on the latest generation of   algorithm  and is highly customizable to suit your trading needs. If you   Buy this Expert   Advisor you can   write a feedback   at market and   get   a second EA for   Free , for More info contact me The basic strategy of this EA is built on a sophisticated   algorithm  that allows it to   identify   and   follow m
Altri dall’autore
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 Daily chart 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 Intraday Momentum Index ( IMI ) is a technical indicator that combines aspects of Candlestick Analysis with the Relative Strength Index ( RSI ). The Intraday Momentum Index indicator concept remains similar to RSI and includes the consideration for intraday open and close prices. The IMI indicator establishes a relationship between a security open and close price over the duration of a trading day, instead of how the open and close prices vary between different days. As it takes into conside
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Versione 1.3 2021.11.26
Add System ID (magic number)
Possibility to trade Long or short only
Versione 1.2 2020.04.07
Fix EA icon
Versione 1.1 2020.04.07
Recompiled to accommodate new builds of MetaTrader