Forex startegy Candelabrum for EURGBP

Jan 12, 2020 | Experts, Signals

Forex strategy “Candelabrum” has proven itself well in determining the reversal to capture a new trend. Turn signals, due to safety rules, have excellent performance.

Features

  • The Candelabrum strategy uses the “Trree inside” candlestick pattern and the Bollinger Bands indicator.
  • Take profit and stop loss levels are calculated as a percentage of the candlestick model.
  • The orders are closed in parts.

Statistics

From January 2019 to January 2020, the Candelabrum strategy showed an impressive result. In points, it turned out +1783 (for 4-digit quotes). At a risk of a deal of 3% of the initial deposit for the same period of time, 91% of the profit was received *.

  • Currency pair – EURGBP.
  • The time interval is H4.
  • Broker – Forexchief.

Indicators

Bollinger Bands indicator with standard settings.

Up trading Conditions

  1. One of the last three closed candles touches the lower level of Bollinger Bands.
  2. Formed candlestick pattern “Three inside up
  3. At the opening of a new candle, a Buy limit order is opened.
  4. Stop loss is set at 20%, take profit is set at 850%.
  5. Starting from the level of 400% in increments of 150%, the order is partially closed in the amount of 40% of the remaining volume.
  6. Starting from the 300% level, a trailing stop with a distance of 300% is turned on.

Down trading Conditions

  1. One of the last three closed candles touches the higher level of Bollinger Bands.
  2. Formed candlestick pattern “Three inside down
  3. At the opening of a new candle, a Sell limit order is opened.
  4. Stop loss is set at 20%, take profit is set at 850%.
  5. Starting from the level of 400% in increments of 150%, the order is partially closed in the amount of 40% of the remaining volume.
  6. Starting from the 300% level, a trailing stop with a distance of 300% is turned on.

Forex strategy “Candelabrum” is best managed by Candelabrum Expert Advisor.

* Verified by Myfxbook as Candelabrum Quiet Signal

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