Candle-Confirmed Entries for a Directional Grid Trading EA

Summary

The document describes a lightweight expert advisor that combines grid order placement with the direction of the latest candle. A bullish last candle prompts a buy, while a bearish one prompts a sell; this signal is applied to subsequent orders in the grid as well as the initial entry. The stated purpose is to make entries depend on both candle direction and the configured spacing between orders. A sudden price move without the relevant candle signal may therefore leave the EA inactive. The description also says that after a sequence of bearish candles, a bullish candle can trigger a trade in the opposite direction.

Settings include starting lot size, order spacing, take profit, grid closing methods, slippage, and a maximum lot limit. The document explains operating features but supplies no performance evidence, drawdown figures, or risk controls beyond configurable limits and cautionary recommendations. Grid exposure can accumulate as price moves against open positions; suitability depends on the instrument, settings, and market conditions. The suggested demo testing period is guidance, not proof of safety.

Key ideas

• The EA uses the latest candle's direction to choose buy or sell entries.
• Candle signals apply to later grid orders as well as the first order.
• Order spacing and lot size are configurable alongside profit and closing rules.
• The document provides no performance or drawdown evidence for the approach.
• Grid exposure may accumulate when price moves against open positions.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.