Candlestick Patterns & Fibonacci Levels. No dangerous & risky stratrgies.

CANDELABRUM © EA determines pivot points based on candlestick patterns and the Bollinger bands indicator and opens orders in the direction of a new trend. Each order has a specified take profit level and is protected by stop loss. To increase the number of profitable deals, a unique Split system can be used, partially closing an order when it reaches specified levels. For complete risk control, the trading system at the opening of each transaction allows the use of a calculated order volume.

All calculations are carried out as a percentage of the size of the candlestick model using Fibonacci levels.

When working on the recommended periods (H4), the adviser does not require special trading conditions and works with almost any type of accounts.

Description & Presets

• https://www.mql5.com/en/blogs/post/725897

Signals

• Candelabrum Quiet https://www.mql5.com/en/signals/464546 (manual interventions allowed)
• Smart Fibo https://www.mql5.com/en/signals/544423 (combined with River EA)

Features

Input parameters

• Magic – magic number
• Comment – comment
• Slippage – max slippage, point
• Lot Max – max volume of every position, lot
• Spread Max – max allowed value of the spread for opening / modifying / closing a position, point
• Range Min – min allowable size of a candle body, point
• File Name – data storage file name, must be different for each chart, if empty the name will be automatic (path C:\Users\[UserName]\AppData\Roaming\MetaQuotes\Terminal\[Terminal]\MQL5\Files\[filename.bin])
• Timeframe – timeframe
• Direction – allowable positions type
  • LongAndShort
  • OnlyLong
  • OnlyShort
• — Volume —
• Volume Type
  • LotManual – based on Lot Main
  • LotRisk – based on Factor Risk
  • LotAuto – based on Factor Auto
• Lot Main – main lot (valid with LotManual / LotAuto), lot
• Factor Risk – max allowable loss for each position in % of AccountBalance (valid with LotRisk), %
• Factor Auto – account funds per each Lot Main value, lot = ACCOUNT_MARGIN_FREE / Factor Auto * Lot Main (valid with LotAuto), $
• — Levels —
• Takeprofit – takeprofit, %
• Stoploss – stoploss, %
• — Time —
• Hour Start – hour to open a position, hour
• Hour End – hour to stop opening a position, hour
• Hour End Friday – hour to stop opening a position on Friday, hour
• — Models —
• Model 1 – activate Model 1 (three inside pattern)
• Model 2 – activate Model 2 (engulfing pattern)
• Bands Period – Bollinger Bands period
• — Active Stoploss —
• Stoploss Type
  • Regular – hard stoploss
  • Trailing – trailing stop
    • Trail Start – start level of trailing stop, %
    • Trail Stop – distance of trailing stop, %
• — Split —
• Split – enable/disable
• Split Start – start level of Split mode, %
• Split Step – step of Split mode, %
• Split Lot – percent of the remaining order volume closed at each step, %
• — Graphics —
• Color Buy – Buy levels color
• Color Sell – Sell levels color
• Display Trades – enable / disable to display the trades

• MQL5 Smart Forex Lab.
• Telegram @smartforexlab_group