Japanese Candlesticks EA? Possible?

[woodenfootspa]

Is it possible to program an Expert advisor that uses Japanese Candlesticks to trade?

Has any one done this?

What are your thoughts?

Cheers

[bkr1969]

What do you mean, "uses Japanese candlesticks?" They are representations of open, close, high, and low. You can use these numbers in many ways in an EA. If you're referring to different candlestick patterns, yes, an EA could be written that would "recognize" certain patterns, but again, that's just based on OCHL.

[dallass]

Can you please tell me if you know such a free expert advisor.
I mean one that trades based on japanese candlestick.

[spaceage9]

A candlestick on its is nothing but the graphical representation of the currency's high & low at a certain point in time. So what do you actually mean by an EA 'that trades based on japanese candlestick'??

[dallass]

An EA that trades according to candlestick patterns.

[spaceage9]

Most EAs scalp, rather then follow trend. Have you looked through this section? There are quite a few systems here that are based on following trends, albeit not EAs

[CodeMeister]

Originally Posted by dallass

An EA that trades according to candlestick patterns.

It is possible to do this and I am sure that something like this already exists. In fact probably hundreds of them exist. The question then becomes do any of them do exactly what you have in mind?

A suggestion - rather than going to the trouble of writing an EA, why not write a script first that will identify the patterns on the chart. Then you can evaluate whether an EA is worthwhile and some of the logic from the script can be reused.

[dallass]

I have found only indicators.
I want an EA and until now I did not found it.

[dallass]

So, I made a small EA based on a indicator found on this forum.

It opens orders but it opens too many.
Can someone help me to corect it and the EA to open only 1 order when signal received?