The Candle Trader Metatrader 4 Forex Robot is an automated trading software that trades in line with the low/high price of the candle of the previous day.
Simply put, the Candle Trader expert advisor is a simple forex robot that trades candlesticks by comparing several nearest bars and their volumes and triggers positions in line with that data.
The Candle Trader forex robot is known to work best on the 4-Hour and 1-Day time frame on major currency pairs, along with stocks listed on NASDAQ.
It is key to always optimize the inputs parameter setting before trading and after some period of trading as well.
Strategy Tester Report
Find below the Candles Trader forex robot strategy tester report for the EUR/USD forex pair on the 4-Hour chart.
The EA made a total profit of $2776.14 from a total of 189 trades. The largest winning trade generated $213.03 in profits, while the largest losing trade generated a loss of-$136.64.
Bars in test: 10200 ticks modelled
Initial deposit: $50000.00
Total net profit: $2776.14
Total trades: 189
Largest profit trade: $213.03
Largest loss trade: -$136.64
Consecutive wins: 4
Consecutive losses: 1
MT4 Forex Robot Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Expert advisor
Input Parameters: Enable “no loss,” When to move break even, How much pips to move sl, Lots size, MaimumRisk, DecreaseFactor, TrailingStop, Stop Loss, MagicNumber, TakeProfit, FastMA, SlowMA, Distance, Momentum_Sell, Momentum_Buy
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the Candles Trader.mq4 into the MQL4 Experts folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Experts (paste here)