Trendline Candle EA

Currently under further development…

Description
Reviews (0)

Trendline Candle EA Forex

Trendline candle is a line that shows the direction of price movement in various directions according to the trend. In the case of trendline candle, it uses trend observation from no more than 2 candles to make short-term profits.

Trendline candle comes from observing short-term price movements. If it passes through a support or resistance line, it often goes on to make a higher price in that direction.

How Trendline Candle Works

The Trendline Candle system is based on observing short-term candle movements to allow users to generate daily profits.

Order Entry Conditions

Conditions for entering a Buy Order

Find a pattern of 1 large green candle and a red candle where the opening price of the red candle must be lower than the closing price of the green candle.
Draw a support line at the opening price of the green candle.
Wait until the candlestick crosses the support line, then open a buy order and set TP and SL.

**Figure 1** Example of Candle pattern when entering a buy order

Sell Order Entry Conditions

Find a pattern of 1 large red candle and a green candle where the opening price of the green candle must be higher than the closing price of the red candle.
Draw a resistance line at the opening price of the red candle.
Wait until the candlestick crosses above the resistance line, then open a sell order and set TP and SL.

Candle pattern sell — **Figure 2** Example of Candle pattern when entering a sell order

Backtest Results

Table of Backtest System Setup
Item	Details	Item	Details
Data	Tick data (99.90%)	Leverage	1:500
Spread	Variable	Optimize Slippage	Use
Market delay	30-40 ms	Pending delay	30-40 ms
The maximum backtest period that can be passed is 4 years

Interesting Parameters
Parameters	Variable value	Interpretation
Profit factor	1.42	Low compared to %DD
Profit/year	50.00%	Very low
Max %DD	19.45%	Low
Relative %DD	32.46%	Medium