• Exponential moving averages (EMA 20,60). Standard EMA positioning is used to determine general trend direction in daily chart. All trades must be in confluence with this trend.
• Candle signal (minimum 60, maximum 250 body range). We will be looking for big enough bearish/bullish candle. We will expect the momentum to continue during the next day, trigger our order and continue to reach our profit target. Pending orders are placed at closed candle high/low, expecting the continuation.
• MAX wick size (30) Wick in the direction of candle and expected continuation cannot surpass maximum allowed with. Wider wick signalizes questionable momentum and such candle is considered to be unreliable for entry.
• Take profit and stop loss: We measure candle range (high- low). The distance is used both for profit target and stop loss.
• Break even: After position reached predefined profit, stop loss is adjusted on break even price (entry price).
• Remain valid (1): untriggered pending order will remain valid for 1 day.

Rules

SELL

1. Downtrend according to EMA pair. Faster EMA trending below the slower.
2. We will be looking for strong bearish candle with defined min/max body range and with bottom wick not larger than max wick size.
3. Once such a candle closes, we place pending sell stop order at candle low. Distance between low and high is used both for profit target and stop loss.
4. Break even: After position reaches predefined profit we adjust stop loss to break even.
5. Untriggered pending order may remain valid for 1 day.

BUY

1. Uptrend according to EMA pair. Faster EMA trending above the slower.
2. We will be looking for strong bullish candle with defined min/max body range and with bottom wick not larger than max wick size.
3. Once such a candle closes, we place pending buy stop order at candle high. Distance between low and high is used both for profit target and stop loss.
4. Break even: After position reaches predefined profit we adjust stop loss to break even.
5. Untriggered pending order may remain valid for 1 day.

Expert advisor is based on transparent and fully tested forex strategy.

Original and transparent MT4 expert advisor. Developed and created by professional FOREX traders at kingsraid.wiki . Tested for profitability on EURUSD tick data since 2003. Thousands of viable input combinations available for EURUSD alone. Works with any timeframe and any FX pair.

Main features of this expert advisor:

• Tested on high quality data: High accuracy testing on EURUSD data (1H). 100+ Viable inputs combinations for EURUSD pair alone.
• All inputs unlocked: You can adjust and modify your expert inputs. It can be then applied on any time frame and any currency pair. You can modify the settings at will to achieve the best possible results and make the expert suit your needs.
• Transparent expert advisor: No smoke and mirrors. Rules are clearly stated and functionality can be easily verified by manual charting on forward or historical data.
• Works with most of the MT4 Forex brokers: Our expert advisors were adjusted to work with almost any MT4 FOREX broker.
• Works with any time frame: Simply drag and drop the expert on time frames you would like to use.
• Works on any currency pair
• Expert advisor will not draw any indicators in your chart.

Disclaimer and user agreement:

Expert advisor was tested for profitability on historical data. All screen shots provided are displaying real results of the test. However past data will never guarantee future success. Every expert advisor needs to be tested properly on demo account. LIVE use only on your own risk. Read full disclaimer. TheForexKings Team does not give any financial advice. TheForexKings does not take any responsibility for any user’s investments and investment decisions. All rights reserved. Strictly for personal use.