EURJPY Stochastic Setup After Three Falling M15 Candles

Summary

The expert advisor combines a short downward move on a 15-minute chart with Stochastic readings on one- and five-minute periods. Its stated entry condition is three falling candles on M15 while the Stochastic’s green line is above its red line on both shorter periods. The author describes stop loss, take profit, position size, and maximum concurrent orders as adjustable settings, and reports that a tested configuration was chosen for EURJPY.

The document includes a one-month backtest table with 27 trades, all long and profitable, alongside a reported maximum drawdown of 28.28%. These results are limited evidence: the test used open prices only, reports no short trades or losing trades, and the author explicitly calls the EA crude and unreliable. The report does not establish robustness across longer periods or other market conditions, and the described signals and reported parameter settings should be evaluated independently before use.

Key ideas

• The entry setup pairs three falling M15 candles with bullish Stochastic alignment on M1 and M5.
• The EA includes configurable stop loss, take profit, lot sizing, and maximum order count.
• The reported EURJPY test contains 27 winning long trades and a maximum drawdown of 28.28%.
• The test spans about one month and uses open prices only, limiting what its results establish.
• The author characterizes the EA as crude and not sufficiently reliable.

Tags

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