Quantina Forex Candle High Low EA
Developed by Quantina Intelligence Limited ©
DEFINITION of ‘Candlestick’
A chart that displays the high, low, opening and closing prices for a security for a single day. The wide part of the candlestick is called the “real body” and tells investors whether the closing price was higher or lower than the opening price (black/red if the stock closed lower, white/green if the stock closed higher). The candlestick’s shadows show the day’s high and lows and how they compare to the open and close. A candlestick’s shape varies based on the relationship between the day’s high, low, opening and closing prices.
The Japanese began using technical analysis to trade rice in the 17th century. While this early version of technical analysis was different from the US version initiated by Charles Dow around 1900, many of the guiding principles were very similar:
The “what” (price action) is more important than the “why” (news, earnings, and so on).
All known information is reflected in the price.
Buyers and sellers move markets based on expectations and emotions (fear and greed).
The actual price may not reflect the underlying value.
According to Steve Nison, candlestick charting first appeared sometime after 1850. Much of the credit for candlestick development and charting goes to a legendary rice trader named Homma from the town of Sakata. It is likely that his original ideas were modified and refined over many years of trading eventually resulting in the system of candlestick charting that we use today.
The strategy behind the Quantina Candle High Low EA
There are virtually limitless trading strategies for a variety of trading environments and time constraints. This is a good news because whether you have a few minutes or a few hours a week to invest in trading, you can still participate in the Forex market.
Quantina Candle High Low EA is designed to find entries with the trend when price breaks of the previous day’s highest high and lowest low points. Basically, we will buy if the actual price is higher than the previous day’s highest high point and we will sell if the actual market price is lower than the previous day’s lowest low point. Since we will be selling in a downtrend and buying in an uptrend, the first task of this strategy is to find the trend. To identify the primary trend we will need a 200 Moving Average indicator on a Daily chart. We have built-in this useful indicator to your Quantina Candle High Low EA too.
Q uantina Candle HighLow EA on GBP/USD D1 with 200 MA Filter = ON
Features and Settings
Magic Number: 6500
This is a unique ID for each running EA. Please use different numbers on every active EA especially on sathe me currency pair. Also, you have to use dithe fferent Magic number if you are using more than one Quantina Candle High Low EA on sathe me currency pair.
Trading Lot Size:
Trading Lot size. (1 standard lot = 100.000) Recommended is 2% of your balance.
Counted Candle Number:
EA will set the Buy Stop for the highest high of the previous (Counted Candle Number) candles and Sell Stop for the lowest low of the previous (Counted Candle Number) candles
Max Open Trade:
EA not going to open new trades if it is running more than (Max Open Trade) number of opened trade.
Time Filter: true/false
Start Time: hh:mm
End Time: hh:mm
EA will trade between those time only. Time is in 24h format, same shift as your server time.
Very unique method. The EA will set your position of StopLoss than your previous candle.
Stop Loss will be set as for the numbers of previous candles. For example : 5 , in this case E,A will set your StopLoss as the previous 5 candles of highest high and lowest low.
Maximum Stop Loss:
Maximum StopLoss can overlap the Dynamic StopLoss. Evene, If your Dynamic StoLoss is active EA can not use higher StopLoss value than your Maximum StopLoss.
Use Trailing Stop:
Value in pips. Min = 1 Max = unlimited. More information of TrailingStop on Investopedia’s website. Trailing Stop method can track your opened trade and let your profit run.
Distance from entry price in pips. The EA will move the SL to the positive area to save your account.
StopLoss will be locked. Distance from entry price in favour if the market price reached the BreakEvenTrigger value.
Unique information for trading history. “Quantina CandleHighLow”.
Simple Moving Average Filter. The EA will open Buy trades if the Market Price is above than Moving Average line and open Sell trades if the actual market price is under the Moving Average line. This is an extra advantage for long term trend traders. Also, you can reduce your risk.
Simple Moving Average period. Working if the MA Filter is true.
How to Install:
Step 1: Download the latest version of Quantina Forex Candle High Low EA from our website. 1 file only. (no DLLs, no Indicators needed)
Step 2: Go to your MetaTrader4 Terminal File Open Data Folder
Step 3: Paste your file into the MQL4 experts -folder
Step 4: Restart (or refresh your experts) your MetaTrader 4 terminal
Step 5: Find your new Quantina Candle High Low EA under your Navigator Expert Advisors
Step 6: Open a currency chart with any timeframe. (Recommended is EUR/USD D1, and GBP/USD D1)
Step 7: Attach your EA to the chart.
Short Backtest without comment
Frequently Asked Questions:
1. Is this EA working on M15 Timeframe?
Yes, it’s absolutley working on every timeframe. Recommeded timeframe for narrowed BreakEvens is (M5, M15, M30, H1, D1, W1). For wider Breakevens is (H1 or above).
2. What is the recommended Currency Pair?
Major currency pairs: GBP/USD, EUR/USD, USD/JPY, USD/CAD, AUD/USD, NZD/USD. However, EA can work on every currency pair.
3. Is this EA broker account sensitive? Do I have to change my broker?
No, it is not. EA can work on every known account type and with every forex broker.
However, we always have Recommended Broker for all our product. This EA is tested on Pepperstone ECN Razor account.
License valid for 5 times activation on live MetaTrader 4 accounts and on unlimited demo accounts. Activation and Deactivation are completely automated. There is no need license key. Product tested on recommended forex broker: IC Markets Server 10
4. Can I use Quantina Candle High Low EA on EUR/USD, GBP/USD, USD/CAD, USD/JPY, GBP/JPY at the same time on the same account?
Yes, you can. However, please check your setings and strategy for each currency pair.
5. Can I use several different settings and strategy on EUR/USD at the same time?
Yes, you can run an unlimited* number of Quantina Candle High Low EA on the same currency pair, however, please do not forget to set different uniqe ID (Magic Number).
6. Do I need an extended license if i want to run it on VPS ?
No, you do not. 1 Live account is enough to run this EA on your PC / VPS. Quantina Candle High Low EA 2015 is compatible with every known (VPS) server.
7. Do I need to trade manually?
No, you do not need to. However, you have to care about when do you running this EA regarding it’s uniqe trading strategy. Also, if you need any help with installation please contact our support team 24/5. on email@example.com
Download your product instantly, Registration is automated. You do not need license key or registered email address. Installation takes less than a minute.
Quantina Intelligence limited is running a New Forum site with video instructions to instant help. Also, we can answer all support emails usually in 24-72 hours.
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Lifetime Upgrade Available
We are continuously developing our products. Quantina Candle High Low EA 2015 has lifetime upgrade option.
One time Payment
No monthly fee. Displayed price are final price, there is no any hidden fees. TAX and VAT are also included.
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Quantina Intelligence Limited
London, United Kingdom