Candle Sense AI Trader #028
USD 4,500
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- Candle Sense AI Trader #028
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- Candle Sense AI Trader – User Guide
- 1. Overview
- The Candle Sense AI Trader is an automated trading system (Expert Advisor) for MetaTrader
- 5.
- It combines Price Action patterns, Candlestick recognition, and On-Balance Volume (OBV)
- to confirm trade signals.
- Key features:
- • Detects Engulfing, Pin Bar, Morning Star, and Evening Star patterns.
- • Confirms with OBV direction and OBV moving average filter.
- • Flexible risk-based position sizing.
- • Supports ATR-based or candle-based Stop Loss & Take Profit.
- • Optional Trailing Stop.
- • Spread filter and trade cooldown to avoid over-trading.
- 2. Inputs & Parameters
- General
- • EA Name: Label shown in trade comments.
- • Magic Number: Unique ID to separate trades from other EAs.
- • Allow Long / Short: Enable or disable buy/sell signals.
- • Max Spread Points: Maximum allowed spread (in points).
- • Cooldown Bars: Minimum bars to wait before opening a new trade.
- Risk & Exits
- • Risk Per Trade (%): % of account balance risked per trade.
- • Use ATR Stops:
- o true → Stop Loss & Take Profit calculated from ATR.
- o false → Use candle highs/lows for SL and ATR-multiplied TP.
- • ATR Timeframe / Period: ATR settings.• ATR SL Mult / ATR TP Mult: Multipliers for SL and TP when using ATR.
- • Use Trailing Stop: Enable/disable trailing.
- • Trail ATR Mult: Distance based on ATR for trailing stop.
- • Min Stop Points: Minimum broker stop level safeguard.
- OBV Filter
- • OBV Timeframe: Timeframe for OBV indicator.
- • OBV MA Period: Period for moving average on OBV.
- • OBV Slope Lookback: Number of bars OBV must rise/fall to confirm trend.
- Pattern Mode
- • Engulfing + Pin → Detects Engulfing + Pin Bars.
- • Engulfing Only → Engulfing patterns only.
- • Pin Only → Pin Bars only.
- • Star Set → Morning Star & Evening Star.
- 3. How It Works
- 1. On each new bar, EA checks if:
- o Spread is within limit.
- o Cooldown requirement is satisfied.
- o No existing open trade with the same Magic Number.
- 2. Detects candlestick patterns.
- 3. Confirms signal with OBV filter (OBV above MA & rising for buys, below MA & falling
- for sells).
- 4. Calculates Stop Loss / Take Profit.
- 5. Computes lot size based on risk %.
- 6. Places trade if conditions are met.
- 7. Manages open trades with Trailing Stop if enabled.4. Recommended Settings
- • Timeframe: H1 or M30 (works with candlestick patterns).
- • Pairs: Major pairs (EURUSD, GBPUSD, USDJPY) and Gold (XAUUSD).
- • ATR Settings: 14 period, SL Mult = 1.5, TP Mult = 2.0.
- • Risk: 1–2% per trade.
- • OBV: MA Period = 21, Slope Lookback = 2.
- • Pattern Mode: Start with Engulfing + Pin for more signals.
- 5. Example Parameters – XAUUSD H1
- General
- • Magic Number: 80234567 (use a unique number if running multiple EAs)
- • Allow Long: true
- • Allow Short: true
- • Max Spread Points: 60 (Gold often has wider spread than EURUSD)
- • Cooldown Bars: 3 (fewer bars to catch more swings on H1)
- Risk & Exits
- • Risk Per Trade (%): 1.5
- • Use ATR Stops: true
- • ATR Timeframe: PERIOD_CURRENT (H1)
- • ATR Period: 14
- • ATR SL Mult: 2.0 (Gold is more volatile → wider SL)
- • ATR TP Mult: 3.0 (aim for higher reward, ~1:1.5 RR)
- • Use Trailing Stop: true
- • Trail ATR Mult: 1.2
- • Min Stop Points: 250 (safeguard for XAUUSD broker rules)
- OBV Filter
- • OBV Timeframe: PERIOD_H4 (using higher timeframe gives more reliable OBV trend
- on gold)
- • OBV MA Period: 34
- • OBV Slope Lookback: 3 (stricter slope confirmation for volatile moves)
- Pattern Mode• Pattern Mode: PATT_STAR_SET (Morning/Evening Star → strong reversal signals on
- Gold H1)
- Strategy Notes for XAUUSD H1
- • Gold is volatile, so wider ATR multipliers reduce premature stop-outs.
- • OBV filter on H4 timeframe aligns trades with stronger market flows.
- • Trailing Stop with ATR x1.2 helps lock in profits during large swings.
- • Recommended to keep risk moderate (1.5%) because of Gold’s fast moves.
- • Pattern Mode: Start with Engulfing + Pin for more signals.
- 6. Usage Tips
- • Best used on accounts with low spread brokers.
- • Avoid running multiple EAs on the same symbol with the same Magic Number.
- • For trend-following, combine with higher-timeframe filters.
- • Backtest with different PatternMode and OBV settings to adapt to each symbol.
- • Monitor performance on demo before live trading.