Five growing candles forex strategy

We compare previous four candles looking for a specific price formation. The formation consists of four consecutively growing candle bodies, each closing in the direction of price movement (formation). We enter our trade on the fifth formation candle open. The strategy offers very good risk reward ratio, profit factor and draw down. It is relatively simple and not too time consuming.

  Get MT4 Expert Advisor trading this Forex strategy ↴ 

Backtest and optimize for any currency pair. Trade multiple instruments simultaneously, day and night.

Trade automatically, without errors and emotions. Save your time and energy. 

System was tested for profitability on high quality historical data since 2003 confirming potential of this forex strategy, to be profitably traded and adapted across most time frames and currency pairs. It is brought to you together with super versatile expert advisor, that will help you to test it.

 

For the best results, trade with professional ECN/STP broker with MT4. If you can't trade with profit. Automatically copy the traders that are already profitable.

 

Used forex tools and indicators

Candle formation: four growing candles, each candle body larger than previous one. Each candle closing in the direction of formation momentum. Trade is entered on fifth formations candle.

 

Signal candle (40 – 150 pips): Four Candle with defined size range. It helps to filter out the size threshold for the rest of the formation. We define minimum and maximum range of signal candle.

 

Forex strategy rules

 

SELL

 Four candles. Each consecutive candle body is larger than the body of previous candle. Each candle closing below the close of previous candle. We enter the trade short on formation close (fifth candle open). We use firmly set stop loss and take profit.

 

TP: 90 pips

SL: 60 pips

 

BUY

Four candles. Each consecutive candle body is larger than the body of previous candle. Each candle closing above the close of previous candle. We enter the trade long on formation close (fifth candle open). We use firmly set stop loss and take profit.

 

TP: 90 pips

SL: 60 pips

Get MT4 expert advisor trading this forex strategy

Five growing candles. MT4 Expert advisor by TheForexKings

 

Disclaimer:  Expert advisor was tested for profitability on historical data. All screen shots provided are displaying real results of the test. However past data will never guarantee future success. Every expert advisor needs to be tested properly on demo account. LIVE use only on your own risk. Read full disclaimer. TheForexKings Team does not give any financial advice. TheForexKings does not take any responsibility for any user’s investments and investment decisions. All rights reserved. Strictly for personal use.

 

 

Please reload

ABOUT US

THEFOREXKINGS

“Trading FOREX since 2006. Full time trader and web developer since 2013. My two biggest hobbies are trading and web development. In TheForexKings I managed to connect both of them. Even after 12 years of trading I still have the same passion for the market as at the beginning. The aspect I enjoy the most : development and testing of new ideas.” 

 

Only in 2016 - 2017 we have created more than 400 forex strategies. During this period we have also developed and published +200 MT4 Expert advisors based on those strategies. We are dedicated to provide you with viable and complete trading systems that have thrived in extensive historical testing. We want to give you complete and transparent trading solutions, that once mastered ,will set you financially free. We want to give you a fighting and winning chance in the market. ” 

—  Marian, Proprietor of TheForexkings.com