Hello traders, Let’s start with a brief description of what this strategy/indicator is and what it does and how we trade based on Alpha Candles. The definition of an Alpha Candle is that it is mathematically calculated, and significantly bigger than the previous candles. This could be a green candle or a red candle, as long as the body is significantly...
This strategy allows you to pick from 9 different candlestick patterns, and test them against historical data from your chart. You can get a good idea what patterns work best for each chart by turning each pattern on and off in the settings.
This is a basic strategy that will buy after a hammer is printed, and sell when a predetermined risk or reward price is hit. You can change the risk and reward values in the settings. Risk and reward values are in increments of $0.01. Default values are 75 ($0.75) and 200 ($2.00). If the strategy is producing losses, try adding a zero to the end of the risk value...