CandleBot Expert Advisor

CandleBot

It  happened that before this I considered a simple expert advisor based on several indicators. And if someone saw something complicated, sorry… CandleBot compared to them is something poorly amenable to understanding. I do not know who created such a monster, but the robot exists for more than 7 years and still it is a huge field for experimentation. It is universal (suitable for any currency pair), but can not always work independently. In other words, CandleBot allows semi-automated trade.

CandleBot — candlestick trading for every taste!

Settings of CandleBot allow you to trade with 29 candlestick combinations. Each of them is switched on and off at the discretion of the trader. Why was it made:

  • Japanese candles form shapes on different currency pairs. The task of the trader is to determine which figure In which currency pair will show the most accurate result;
  • some models of candles are strong, some require additional confirmation by other indicators and patterns;
  • depending on the understanding of candlestick patterns and the extent of the trust a trader determines the necessity of its use.

The basis of the combinations is the formation of the trend figures, based on which we can conclude about the approaching turn or on the contrary strengthening of the trend. The recommended timeframe is H1, the zero bar is not being used.

There is no possibility to describe all candlestick patterns of CandleBot. On each of them you can write a whole article. Just going to list some of them: harami, shooting star, hammer, piercing, belt hold, three ravens, counterattack, dodges, etc. Characteristics of profitability and maximum drawdown in testing of 2 years you can see below.

testing of forex pattern

The settings of the indicator (except for “Enabling of candlestick models”):

  • Magic — unique number that identifies the position of the adviser. It is used to trade on different currency pairs;
  • Lots — the minimum lot size;
  • MM — enabling auto money management;
  • MMRisk — the level of risk on the deposit;
  • UseTime — setting of time (yes/no);
  • TimeStart — start of the trade;
  • TimeEnd — the end of the trade;
  • StopLoss — «0» — stop is not set, the other values — its level;
  • TakeProfit — level of income;
  • Tral — activation of the trailing stop;
  • TralStartLevel — the level of income for the trailing start;
  • TralStop — step of trailing stop;
  • DrawInfo — output of reviews to the position.

Summary. CandleBot — advisor, with which you never get bored. Scope for experimentation for professionals and a great springboard for beginners who want to understand the principles of technical analysis. Manual strategies require the use of each piece individually. Absolutely all basic shapes are arranged here. You will hardly find any reviews about CandleBot.  This robot is too specific:  in different hands and in different situations behaves differently. You cannot compare two different strategies together. And when the robot has not just two tactics, but 29 – it is almost impossible. So download it, install and try!

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