The CHANDELIERE strategy owes its name to the exit technique.
In fact, in addition to a fixed initial stop loss of 350 euros
chosen based on the optimization of the minimum historical drawdown,
the strategy provides a dynamic stop that goes up or down with the market
depending on whether we are buying or selling.
This technique appeared in 1978 of the book "New concepts of trading systems" by Welles Wilder
and later renamed "Chandelier" by Chuck LeBeau in 1999.
Strategy will hunt down strong price movements.
It will then open only 1 trade in the direction of that trend
with a chandelier trailing stop.
This is a high volatility EA, which will not trade every day
but only when strong price movements are detected, trade will be opened.
Settings
All trades have stop loss at a safe, but not too far distant.
Protecting capital is rule number 1 in trading.
Proved money-management techniques, used in all my EA's.
It's specifically designed for use on eur/usd on 5m timeframe
The EA uses only candle OPEN and CLOSE values,
so less risk for faulty backtesting
(tick data testing and 'open-prices only' backtesting are almost identical)
This EA uses only volatility for entering trades: no lagging indicators are used.
The EA is very limited influenced by spread or slippage,
so it is safe to run in almost all market conditions and trade-account types.
Parameters
The EA is WITHOUT ANY PARAMETERS!
Recommended pairs and timeframes
M5: EURUSD
Since the EA can open only 1 trade at time
you can use an account with a very low leverage (1:1)
The report includes 4 euros of commissions per trade and 1 tick of slippage.
About the Author
I have been trading Forex for more than 20 years and have been developing EA's for more than 7 years.
All my EA's must always meet certain very strong criteria:
- EA's live results must match the backtests
- EA's should be independent from different market conditions such as spread, slippage)
- EA's should not be over-optimized
- EA's should have 0 or 1 parameter at most
- EA's should ALWAYS use a Stop Loss which risk only very little of the account
CHANDELIERE TRADING SYSTEM
ONE YEAR LEASING
500,00 €
Click on Buy button you will be redirected to a secure site where you can complete your order.
Upon successful order a license file will be sent by email.
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