The Candle EA MT4 operates based on candlestick patterns, making it adept at trend detection. With preset profit and loss limits, it ensures minimal risk. It’s most effective on the M30 time frame, particularly with currency pairs like EURUSD, GBPUSD, AUDUSD, and USDCAD.

Attributes:

• Suitable for EURUSD, GBPUSD, AUDUSD, and USDCAD currency pairs
• Compatible with M30, H1, and H4 time frames
• Incorporates profit and loss limits
• Avoids high-risk strategies like martingale or hedge
• Compliant with FIFO rules
• Viable with low capital, offering diverse capital management strategies
• Applicable in prop companies

Minimum tested capital: $100 Minimum tested leverage: 50 Best brokers: Big and reputable brokers Best currency pairs: EURUSD, GBPUSD, AUDUSD, USDCAD Best time frames: M30, H1, H4

Settings:

• Magic Number: Enables simultaneous use of multiple experts with unique magic numbers.
• Order Long/Short: Allows customization of trade directions.
• Comment: Facilitates trade distinction.
• Risk: Suggested risk percentage is 2%.
• Set Lot Value Manually: Provides manual lot value control.
• Take Profit/Stop Loss: Enables user-defined profit and loss limits.
• Breakeven Enable/Breakeven: Activates breakeven settings to safeguard profits.
• Max Spread: Prevents trading if broker spread exceeds defined points.

For more detailed settings guidance, refer to Settings Guide.

FAQs:

• Compliance with FIFO rules: Yes.
• Simultaneous trading in mentioned currency pairs: Yes.
• Trading with symbols featuring suffixes: Automatically recognized, no special settings required.
• Future updates: Regular updates every 1-2 months; feedback-driven improvements.
• Free updates: Yes, available for purchasers and renters.
• Use in other symbols: Possible but results may vary.
• Average number of trades: Backtest and live trades align; varies based on settings.
• Continuous expert activation: Not necessary but recommended for uninterrupted trading; VPS usage advised for optimal performance.

For comprehensive product FAQs and implementation guides, visit the provided links.

FAQ

Guide to implementing this product on the Metatrader chart

Expert test and analysis guide