Nyx is an expert advisor based on the master candle trading strategy.
Entry and exit conditions
ZoneBuffer: Margin above and below a zone, beyond which an entry is triggered.
ZoneBufferType: Type of ZoneBuffer. Pips means a value in pips, ATRMultiplier means an ATR based value and ZoneBuffer is calculated as a multiplier of ATR, ZoneMultiplier means ZoneBuffer is calculated as a multiplier of zone height. The same types apply to the following settings as well.
MinEngulfedCandles: Minimum number of candles after the master candle, for a valid zone.
MinMasterCandleHeight: The master candle should be at least the defined height.
MinMasterCandleHeightType: Type of MinMasterCandleHeight.
MaxMasterCandleHeight: The master candle should not exceed the defined height. 0 disables this option.
MaxMasterCandleHeightType: Type of MaxMasterCandleHeight.
InitialBreakoutDirectionOnly: All trades of a zone should have the same direction as the first one.
MinBarsClosedOutside: 0 means an entry signal is valid when price goes beyond the buffer line, a value of 1 or greater defines the number of bars that should close beyond the buffer lines for a valid entry.
MaxTradesPerZone: Maximum allowed trades during a zone, 0 means unlimited trades.
NoTradesAfterTP: When a take profit level is hit or an exit is not caused by stop loss or an opposite signal, no more trades can be opened during this zone.
ExitOnOppositeSignal: The entire trade or any remaining partial lots are closed when an opposite entry signal, defined by the entry settings, occurs.
ReverseSignals: A long signal opens a short trade, closes a long trade and vice versa.
MagicNumber: Magic number of the trade. If more than one chart of the same pair is opened the magic numbers should be different. Different pairs can have the same magic number.
TradeComment: Comment of the trade as shown at the Metatrader terminal.
TradesPerSession: Maximum number of trades that can be opened during each trading session. It includes open and closed trades. If there are no trading sessions, it refers to the whole day. 0 disables this option.
SwingSL: False means the stop loss value is relative to entry price. True means the stop loss is relative to the nearest swing plus spread for shorts. All stop loss and take profit settings are hidden from the broker.
OppositeSideTarget: StopLossLevel means the stop loss is at the opposite side of the zone plus spread for short trades, TakeProfitLevel means the take profit is at the opposite side of the zone plus spread for short trades.
MinimumSLPips: If SwingSL is selected, stop loss value should be at least the defined pips. SwingSL is valid only if MinimumSLPips is greater than zero.
MaximumSLPips: If stop loss is greater than the defined pips, it is reduced to MaximumSLPips. 0 disables this option.
StopLoss: Value of stop loss.
StopLossType: Type of stop loss. Pips means a value in pips, ATRMultiplier means an ATR based value and StopLoss is calculated as a multiplier of ATR. The same types apply to the following settings as well.
VisibleSL: Stop loss visible to brokers used in case of disconnection. It is a multiplier of hidden stop loss value.
We can have up or four take profit levels and each of them can have a different type.
TakeProfit1: Value of the first take profit.
TakeProfit1Type: Type of the first take profit.
TakeProfit2: Value of the second take profit.
TakeProfit2Type: Type of the second take profit.
TakeProfit3: Value of the third take profit.
TakeProfit3Type: Type of the third take profit.
TakeProfit4: Value of the fourth take profit.
TakeProfit4Type: Type of the fourth take profit.
FibonacciTakeProfit: The take profit levels are set at the fibonacci levels plus spread for short trades. Zone height is used for fibonacci calculations.
FibonacciSequence: Comma seperated fibonacci ratios.
VisibleTP: Take profit visible to brokers used in case of disconnection. It is a multiplier of hidden take profit value.
BreakEvenTrigger: The stop loss moves to the entry price after price is in profit for the defined value.
BreakEvenTriggerType: Type of break even trigger.
LockProfit: The stop loss moves to the entry price plus the defined value after price reaches BreakEvenTrigger level.
LockProfitType: Type of LockProfit.
TrailingStart: Trailing stop is activated when price goes above the entry price for longs or below the entry price for shorts, for the defined value.
TrailingStartType: Type of TrailingStart.
TrailingStop: Value of trailing stop loss. Stop loss is continuously modified so that its distance from current price is always the defined value. 0 disables this option.
TrailingStopType: Type of trailing stop loss.
TrailingStep: The trailing stop loss is modified when price exceeds the level at which the previous trailing stop modification occurred, for the defined value.
TrailingStepType: Type of TrailingStep.
CloseProfitableAfterMinutes: At the defined minutes after its opening, a profitable trade is closed.
CloseLosingAfterMinutes: At the defined minutes after its opening, an unprofitable trade is closed.
Slippage: Maximum allowed slippage of trades.
MaxSpread: No trades are opened when spread is greater than the defined pips. 0 disables this option.
Hedge: True means that a long and short trade can be simultaneously open.
CandlesDistance: Minimum number of candles between open trades of the same direction. 0 means we can open more than one trades during a candle.
SendEmail: Disabled means no email, TradeOpening means an email is sent only when a trade is opened, TradeClosing means an email is sent only when a trade is closed, TradeOpeningOrClosing means an email is sent in both cases.
SendNotifications: Disabled means no push notification, TradeOpening means a notification is sent only when a trade is opened, TradeClosing means a notification is sent only when a trade is closed, TradeOpeningOrClosing means a notification is sent in both cases.
Alerts: Disabled means no alerts, TradeOpening means alerts only when a trade is opened, TradeClosing means alerts only when a trade is closed, TradeOpeningOrClosing means alerts in both cases.
AlertSound: Play the defined sound file with an alert. The sound file should be placed in the sounds directory of Metatrader. Set it to blank for no sound.
ScreenShots: Screenshots are saved in the files folder at the opening and closing of a trade. Disabled means no screenshots, TradeOpening means a screen shot is saved only when a trade is opened, TradeClosing means a screen shot is saved only when a trade is closed, TradeOpeningOrClosing means a screen shot is saved in both cases.
LongColour: Arrow colour of long trades.
ShortColour: Arrow colour of short trades.
LabelFontColour: Colour of the labels that show information of the expert advisor.
Trading hours settings
All hour based settings are in hhmmhhmm format and refer to GMT. The first four digits define the start time and the last four digits the end time. Up to three trading sessions can be used. Set it to “00002400” to trade all day.
AutoGMTOffset: Difference between server time and GMT, defined automatically by the EA. It can’t be used during backtests.
ManualGMTOffset: Difference between server time and GMT, defined manually.
DSTOffset: If ManualGMTOffset is used, Daylight Saving Time correction is automatically applied according to the European Union rules.
TradingSession1: Trading hours restrictions for the first trading session.
TradingSession2: Trading hours restrictions for the second trading session.
TradingSession3: Trading hours restrictions for the third trading session.
MondayOpenHour: For each week, new trades are only opened after this hour of Monday. It is in hhmm format. Set it to blank to disable this option.
FridayCloseHour: Hour of Friday when all trades are closed and no new ones are opened to avoid the weekend gap. It is in hhmm format. Set it to blank to disable this option.
FridayCloseTrades: At FridayCloseHour open trades are closed. None means no trades are closed, ProfitableTrades means only profitable trades are closed, LosingTrades means only losing trades are closed, AllTrades means all trades are closed.
TradingDays: Comma separated days of the week that allow trading.
NewsFilter: No new trades are opened during news period.
MinutesBeforeNews: The NewsFilter is active for the defined number of minutes before news.
MinutesAfterNews: The NewsFilter is active for the defined number of minutes after news.
Money management settings
Lots: The lot size if money management is not used.
Partial exits can occur in up to four stages.
PartialClose1: Percent of the initial lots that is closed when the first exit occurs.
PartialClose2: Percent of the initial lots that is closed when the second exit occurs.
PartialClose3: Percent of the initial lots that is closed when the third exit occurs. If there are any remaining lots, they are closed by the fourth exit.
MoneyManagement: True means that the lot size is defined by the money management.
EquityPercent: Lot size is a percent of account equity. 0 disables this option.
StopLossRisk: Percent of account balance to risk for each trade, if it hits stop loss. 0 disables this option. Only one of EquityPercent or StopLossRisk can be used.
NewZoneResetsMartingale: Martingale sequence resets when a new zone is formed.
Martingale: Percentage means a LotMultiplier percentage is added to the lot size after a loss, Multiplication means the lot size is multiplied by LotMultiplier after a loss. Martingale is activated only after the initial lots of a trade are closed at loss because of stop loss or an opposite signal.
StartMartingaleAfterSL: The martingale sequence starts after the defined number of consecutive unprofitable closed trades.
LotMultiplier: Lot size increase factor in case of Martingale.
MaxMartingaleSequence: The maximum number of consecutive martingaled trades.
Before installing this expert advisor go to Tools → Options → Expert Advisors and make sure that “Allow DLL imports” is enabled.
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Super! I’m starting to work on this. Thanks a lot my friend…
Nothing has ever motivated me more than this...
Hi all – has anyone had success with this EA and if so can you share your settings please. I have tried some backtests but I am unable to get the EA to run. I have made sure the allow dll is ticked in the options, if anyone can point me in the right direction I would be very thankful
Update – I have the EA running now – thanks to all.
- This reply was modified 4 years, 2 months ago by maahome.
“Master Candle” is similiar concept as “Killing Zone” @FF. G.
Didn’t I just tell the very same thing?
Nothing has ever motivated me more than this...
As this is based on the Master Candle method, which time frame does it identify the master candle in – it appears to be a 4H candle or is a zone? If someone could advise me I would appreciate it.
Nyx is an expert advisor based on the master candle trading strategy.
Hey guys: did ANYBODY follow that link @xux99 provided? I repost it: https://www.forex4noobs.com/forex-blog/forex-tips/adapting-to-current-market-conditions-master-candles/
Following that link, I found that:
… Looks like you stumbled upon this article looking for information on master candles. I am sorry to say, master candles do not work anymore!
This article was originally written in early 2008, master candle trading was awesome back then.
These days, market conditions have change, and master candle trading just isn’t that good anymore. …
Could anybody report about recent experience with that strategy / EA?
@balrogtrader reported about serious losses this morning, don’t know whether he used this particular stragegy, though.
A good trader is a realist who wants to grab a chunk from the body of a trend, leaving top- and bottom-fishing to people on an ego trip. (Dr. Alexander Elder)
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