Candlestick Shadow Expert Advisor with Bar-Based Exits and Risk Controls

Summary

This expert advisor opens a trade when a candle reaches a configurable minimum size within a specified number of minutes. An optional maximum length for the opposing candle shadow can filter the signal; the relevant shadow differs for buys and sells. Trading can be limited to a start and end hour, and the system permits only one new position per bar.

Positions may use fixed volume or risk-based sizing. After a losing stop-loss exit, the next position can be reduced by a configurable lot-size factor. The EA also supports stop loss, take profit, and trailing settings, plus forced closure after a chosen number of bars or closure on a selected bar when profitable. The document describes configurable mechanics, not a tested trading edge: it supplies no market, timeframe, parameter values, or results. The effect of the loss-triggered size reduction and bar-based exits therefore remains unverified.

Key ideas

• A trade signal requires a candle to meet a minimum size within a configured time window.
• An optional opposing-shadow limit can filter buy and sell signals.
• The EA restricts entries to one position per bar and can limit trading hours.
• Position sizing can be fixed or risk-based, with smaller sizing after a losing stop-loss exit.
• Positions can be closed by stop loss, take profit, trailing rules, or bar-based time limits.

Tags

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