Exp_MomentumCandleSign
This EA trades based on signals from the custom MomentumCandleSign indicator, opening buy positions on bullish momentum signals and sell positions on bearish momentum signals. It includes configurable buy/sell open and close logic, with the ability to scan historical bars for counter-signals to close existing positions. Money management supports multiple margin modes including fixed lot sizing.
Open the interactive view (equity curve, symbol switch)Key facts
Backtest results (H1, about 1 year)
Not backtested yet — this EA could not be converted automatically.
Strategy analysis
This EA uses the custom MomentumCandleSign indicator as its core signal source, which generates buy and sell signals based on momentum concepts. Entry conditions: when the indicator's upper buffer (buffer 1) produces a non-zero, non-EMPTY_VALUE value on the specified signal bar, a buy position is opened; when the lower buffer (buffer 0) produces a valid value, a sell position is opened. Exit conditions operate in two ways: first, through reverse signal closure (buy signal closes sell positions, sell signal closes buy positions), and second, through fixed stop loss and take profit parameters. The EA includes a unique logic: when both opening and closing are allowed for the same direction and no close signal exists on the current bar, it scans backward through historical bars to find the nearest counter-signal to trigger position closure. Position sizing supports five margin modes: free margin percentage, balance percentage, loss-adjusted free margin percentage, loss-adjusted balance percentage, and fixed lot size. Money management is controlled via the MM parameter for risk ratio or fixed lots, with default stop loss of 1000 points and take profit of 2000 points.
Strengths
- Supports multiple money management modes with high flexibility, suitable for traders with different risk preferences
- Buy/sell open and close can be independently controlled, allowing configurations like open-only or close-only combinations
- Includes historical bar backward scanning mechanism to avoid missing close signals when both open and close are enabled
- Uses IsNewBar mechanism to prevent repeated trades within the same bar, reducing unnecessary frequent position openings
- Configurable stop loss and take profit with default TP at 2x SL, providing a positive risk-reward ratio
Weaknesses
- Default stop loss of 1000 points and take profit of 2000 points are relatively large, potentially leading to significant single-trade losses
- Lacks spread filter and trading session filter, which may result in unfavorable fills during low-liquidity periods
- Historical bar backward scanning logic may traverse all historical bars in the worst case, posing performance risks
- No position count limit or maximum drawdown control, which could lead to overexposure during extreme market conditions
- Depends on the custom MomentumCandleSign indicator; EA cannot run if the indicator is unavailable, and the indicator's logic is opaque
Possible improvements
- Add spread filter and trading session filter to avoid opening positions during high-spread or low-liquidity periods
- Add maximum position count limit and maximum drawdown protection to enhance risk management
- Optimize historical bar backward scanning logic by adding a maximum lookback bar count limit to prevent performance issues
Risk assessment
Overall risk: Medium
- Default stop loss of 1000 points is large, potentially causing significant single-trade losses
- No spread filter; slippage during high-volatility periods may exceed the Deviation_ setting
- Historical backward scanning has no upper limit, which may cause performance issues in extreme cases
- No maximum position limit; consecutive signals may lead to over-concentration risk
Evaluation scores
Parameters
| Parameter | Default | Description |
|---|---|---|
MM | 0.1 | Deposit ratio or fixed lot size (negative=fixed lots) |
MMMode | LOT | Lot sizing mode (free margin/balance/margin minus loss/balance minus loss/fixed lots) |
StopLoss_ | 1000 | Stop loss in points |
TakeProfit_ | 2000 | Take profit in points |
Deviation_ | 10 | Maximum price deviation in points (slippage tolerance) |
BuyPosOpen | true | Allow buy position opening |
SellPosOpen | true | Allow sell position opening |
BuyPosClose | true | Allow buy signal to close sell positions |
SellPosClose | true | Allow sell signal to close buy positions |
InpInd_Timeframe | PERIOD_H12 | MomentumCandleSign indicator timeframe |
Ind_Period | 12 | MomentumCandleSign indicator period parameter |
SignalBar | 1 | Bar index for trade signal |
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Backtests are historical simulations and do not guarantee future results. Not financial advice.