Candle Shadow Signals with Free-Margin-Based Position Risk

Summary

The document explains an Expert Advisor that uses arrows from a Candle shadow percent indicator to open trades. At the start of a new bar, an upper-shadow signal on the prior completed bar triggers a sell, while a lower-shadow signal triggers a buy. Position size is calculated from a risk percentage of free margin. The EA calls a custom indicator whose folder path must match the path configured during initialization; users need to change that path if the indicator is stored elsewhere.

The guidance recommends tuning the upper- and lower-shadow settings separately while debugging. No market, timeframe, exit rules, sample results, or performance evaluation are provided, so the text describes signal wiring and a position-sizing approach rather than evidence of a profitable strategy. Risk control depends on the chosen risk percentage, and the document does not specify how the EA handles exits or how the indicator’s arrows were validated.

Key ideas

• An upper-shadow arrow on the previous completed bar triggers a sell, while a lower-shadow arrow triggers a buy.
• The EA takes action only when a new bar appears.
• Position size is based on a selected percentage of free margin.
• The custom indicator must be installed at the configured folder path, which may need adjustment.
• The document gives implementation and debugging guidance but no performance results or exit methodology.

Tags

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