Tailgunner Live Candle EA 2.0 MT4 Expert Advisor
Pair : Forex EUR-USD. Timeframe: 5 or 15 Min
After years of observing the Forex charts it became clear to me that standard indicators are usually to slow to detect any upcoming trend break or reversal. Tailgunner Live Candle MT4 expert advisor makes use of the sudden acceleration (price spike) in price action within 1 candle on the 5 or 15 minute chart to early detect a possible trend or breakout. It functions as a ultra short moving average but can detect any sudden change in price much earlier then with standard indicators.
The MT4 EA is not depended on changing market cycles or conditions as with many other trading strategies, that will only work for a certain time period. If RSI threshold is reached it looks for bearish or bullish confirmation candle pattern. It is designed to scalp Euro-USD pair(5-10 pips) after confirmation of next minimum bearish or bulish candle.
After studying the Forex charts I noticed that you must handle the entree point of a long trade not the same way as short trade. The explanation therefore is a psychological one. Short trades seem to express more fear and therefore moving faster to take profit point. This in contrast with long trades which usually take more time to develop. This requires another timing for entree point of a long trade. (adjustable in EA with Trade delay setting).
EA Trade settings
I have been running Tailgunner Live Candle 2.0 on a live account for 3 months with pretty results. EA produces an average of a 3-6 trades per day on 1 currency pair. Tailgunner Live Candle EA works best on volatile markets. Preferably do not trade outside market hours. Most parameters speak for them selves. (see also settings.txt file)
Pair : Forex EUR-USD. Timeframe: 5 or 15 Min
After years of observing the Forex charts it became clear to me that standard indicators are usually to slow to detect any upcoming trend break or reversal. Tailgunner Live Candle MT4 expert advisor makes use of the sudden acceleration (price spike) in price action within 1 candle on the 5 or 15 minute chart to early detect a possible trend or breakout. It functions as a ultra short moving average but can detect any sudden change in price much earlier then with standard indicators.
The MT4 EA is not depended on changing market cycles or conditions as with many other trading strategies, that will only work for a certain time period. If RSI threshold is reached it looks for bearish or bullish confirmation candle pattern. It is designed to scalp Euro-USD pair(5-10 pips) after confirmation of next minimum bearish or bulish candle.
After studying the Forex charts I noticed that you must handle the entree point of a long trade not the same way as short trade. The explanation therefore is a psychological one. Short trades seem to express more fear and therefore moving faster to take profit point. This in contrast with long trades which usually take more time to develop. This requires another timing for entree point of a long trade. (adjustable in EA with Trade delay setting).
EA Trade settings
I have been running Tailgunner Live Candle 2.0 on a live account for 3 months with pretty results. EA produces an average of a 3-6 trades per day on 1 currency pair. Tailgunner Live Candle EA works best on volatile markets. Preferably do not trade outside market hours. Most parameters speak for them selves. (see also settings.txt file)
