N-Candle Expert Advisor with Position and Profit Controls

Summary

This Expert Advisor looks for a run of identical candlesticks and opens a buy after bullish candles or a sell after bearish candles. Its settings allow the user to choose the run length and trade size, add take-profit, stop-loss, and trailing-stop controls, and restrict trading to specified hours. The document describes successive versions that added these controls, along with limits on directional positions or total position volume.

The version described also includes account-mode-aware handling for netting and hedging, an aggregate profit threshold that closes positions, and a configurable response to a feature called “black sheep,” which is not explained. These are implementation options rather than evidence of a profitable strategy. No market, timeframe, backtest, or results are given, and the description does not define how a candle sequence is evaluated or how exits interact. A run of same-direction candles may simply reflect a trend already underway, so the entry rule needs independent testing and risk review.

Key ideas

• The EA enters in the direction of a run of identical bullish or bearish candles.
• Trade size, stop loss, take profit, trailing stop, and working hours are configurable.
• Position limits differ for hedging and netting account modes.
• An aggregate profit threshold can trigger closure of positions.
• The description supplies no performance evidence and leaves some behavior, including the “black sheep” setting, unclear.

Tags

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