Exp_AnchoredMomentumCandle
This EA trades based on the AnchoredMomentumCandle custom indicator, opening buy positions when the indicator signals bullish momentum (colored candle value 2) and sell positions when it signals bearish momentum (value 0). It uses configurable money management, stop loss, and take profit levels, with separate controls for enabling/disabling buy and sell entry and exit logic.
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
The strategy core of this EA is a momentum-following approach based on the AnchoredMomentumCandle custom indicator. Entry conditions: a buy position opens when indicator buffer 4 detects a value of 2 (bullish candle) at the signal bar, and a sell position opens when the value is 0 (bearish candle), with an additional check on the previous candle's color state (Col[0]<2 for buys, Col[0]>0 for sells) to confirm a momentum transition rather than continuation. Exit conditions rely on independent boolean switches: BuyPosClose and SellPosClose control whether positions are closed on opposite signals, combined with a fixed stop loss of 1000 points and take profit of 2000 points. Position sizing uses the MM parameter defaulting to 0.1 (10% allocation), supporting both LOT and MARGIN modes via the MMMode parameter. Money management delegates to standardized functions in the TradeAlgorithms library for order placement. The strategy only evaluates signals on new bar formation or when recalculation is needed, preventing repeated tick-level entries.
Strengths
- Clear strategy logic based on momentum transition signals, avoiding chasing trends
- Independent control for buy/sell entry and exit directions, offering high flexibility
- New bar detection mechanism prevents per-tick recalculation and duplicate entries
- Includes stop loss and take profit settings, providing a basic risk control framework
Weaknesses
- Fixed SL/TP values (1000/2000 points) do not adapt to market volatility (ATR)
- No spread filter, which may result in unfavorable fills in high-spread conditions
- Depends on the custom AnchoredMomentumCandle indicator; if missing, the EA fails with garbled error messages
- No explicit position check in OnTick; relies on TradeAlgorithms library internals to avoid duplicate entries
Possible improvements
- Replace fixed SL/TP with ATR-based dynamic calculation to adapt to varying market volatility
- Add a spread filter to suspend entries when spreads are excessively wide
- Add explicit position checking logic instead of relying on the library's implicit behavior
Risk assessment
Overall risk: Medium
- Fixed SL/TP ignores market volatility; too wide in low-vol and insufficient TP in high-vol environments
- No explicit position check; relying on external library internals may have edge-case risks
- Depends on custom indicator availability; failure only returns INIT_FAILED with no readable error message
Evaluation scores
Parameters
| Parameter | Default | Description |
|---|---|---|
MM | 0.1 | Money management parameter (lot or ratio) |
MMMode | LOT | Position sizing mode (free margin/balance/net free margin/net balance/fixed lot) |
StopLoss_ | 1000 | Stop loss in points |
TakeProfit_ | 2000 | Take profit in points |
Deviation_ | 10 | Maximum allowed slippage in points |
BuyPosOpen | true | Allow opening long positions |
SellPosOpen | true | Allow opening short positions |
BuyPosClose | true | Allow closing long positions |
SellPosClose | true | Allow closing short positions |
InpInd_Timeframe | PERIOD_H4 | Indicator calculation timeframe |
SignalBar | 1 | Bar index for signal retrieval |
MomPeriod | 8 | SMA period in anchored momentum calculation |
SmoothPeriod | 6 | EMA smoothing period in anchored momentum calculation |
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Backtests are historical simulations and do not guarantee future results. Not financial advice.