If you’re on the lookout for a reliable trading system, let me introduce you to the CandleStop System. This nifty tool is designed to help you capitalize on trading opportunities by signaling when to enter and exit trades, all while allowing you to set a fixed holding time for your positions.
The magic happens when a bar closes, and if there's a channel breakthrough, you'll get a signal. What’s really cool is that if you set a maximum holding time and that time is exceeded, your position will close automatically. This feature is perfect for traders who want to manage their risk effectively.
input bool TimeTrade=true; //Enable position exit by time input uint nTime=1920; //Open position holding time in minutes
To get started, you'll need to have the compiled indicator file CandleStop_System.ex5 ready to roll. Just drop it into your <terminal_data_folder>\MQL5\Indicators directory, and you’re all set!
For the tests below, we used the default parameters of the Expert Advisor:
Fig. 1. Examples of trades on the chart
Here are the testing results from 2017 for EURJPY on the H8 timeframe:
Fig. 2. Testing results chart
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