trade signals based on 3 black crows/3 white soldiers + cci indicator

Related: Trade Adjustment Panel - another powerful expert for MetaTrader 5 traders.

this is a description of a trading system based on the 3 black crows and 3 white soldiers candlestick patterns, confirmed by the cci indicator.

Also recommended: Quantora Trade Manager MT5: Advanced Position Management - similar expert with strong performance on MetaTrader 5.

introduction to the system

the system is designed to create ready-made expert advisors based on the classes delivered together with the client terminal. it allows users to check their trade ideas quickly by creating their own trading signals class. the structure of this class and example can be found in the relevant documentation.

the generic idea is to derive the class of trading signals from the base class, override the necessary virtual methods with custom methods, and use the resulting class to generate trade signals.

reversal candlestick patterns

there are many trading strategies that consider reversal candlestick patterns, confirmed by indicators and oscillators. the best approach is to create a separate class for checking the formation of candlestick patterns and add the necessary features, such as confirmation by oscillators, to this class.

signals based on 3 black crows/3 white soldiers

the system considers the signals based on the 3 black crows and 3 white soldiers reversal candlestick patterns, confirmed by the cci indicator. the module of trade signals is based on a simple example of using the class to create trade signals with candlestick patterns.

3 black crows and 3 white soldiers patterns

the 3 black crows pattern is a bearish candlestick pattern used to predict the reversal of the current uptrend. it consists of three consecutive long-bodied candlesticks that have closed lower than the previous day, with each session's open occurring within the body of the previous candle.

the 3 white soldiers pattern is a bullish candlestick pattern used to predict the reversal of the current downtrend. it consists of three consecutive long-bodied candlesticks that have closed higher than the previous day, with each session's open occurring within the body of the previous candle.

trade signals confirmed by cci indicator

the trading signals to open long or short positions must be confirmed by the cci indicator. the value of the cci must be greater or lower than the critical levels (-50 for long positions and 50 for short positions).

the closing of opened positions depends on the values of the cci. it can be done in two cases: if the cci line has reached the opposite critical level (80 for long positions and -80 for short positions), or if the reverse signal is not confirmed (when the cci reaches the following levels: -80 for long positions and 80 for short positions).

creating an expert advisor using mql5 wizard

to create an expert advisor, launch the mql5 wizard and specify the name of the expert advisor. then, select the modules of trade signals used. in this case, we use only one module of trade signals, which is based on the 3 black crows and 3 white soldiers patterns confirmed by the cci indicator.

after adding the module of trade signals, select the trailing properties and money management properties. we use trailing stop not used and trading with fixed trade volume.

by pressing the finish button, we get the code of the generated expert advisor, which is saved in the terminal data folder. the default input parameters of the generated expert advisor must be replaced with the custom values.

backtesting results

let's consider the backtesting of the expert advisor on historical data. the best set of input parameters can be found using the optimization feature of the metatrader 5 client terminal.

the code of the expert advisor created by the mql5 wizard is attached.

You may also like: Professional Automatic Trailing Stop Utility for MetaTrader 5 - excellent alternative for expert users on MetaTrader 5.

#property copyright "robotfx"
#property link "https://robotfx.org"
#property version   "1.00"
#include <expert\expert.mqh>
#include <expert\signal\mysignals\acbc_ws_cci.mqh>
#include <expert\trailing\trailingnone.mqh>
#include <expert\money\moneyfixedlot.mqh>
input string expert_title         ="expert_abc_ws_cci"; // document name
ulong        expert_magicnumber   =22954;               // 
bool         expert_everytick     =false;               // 

.......

• This tool is provided for educational and testing purposes only.
• Past performance does not guarantee future results.
• Trading involves substantial risk of loss. Use on a demo account first.
• Results may vary depending on market conditions, broker, and settings.
• We recommend thorough backtesting and forward testing before using with real funds.