Improved Candle Strategy (without daily squared) by masteraux101
By masteraux101
Performance Metrics
- Author: masteraux101
- Symbol: AMEX:SPY
- Timeframe: 1 minute
- Net P&L: +30,494.23 USD (+3.05%)
- Win Rate: 29.5%
- Profit Factor: 1.119
- Max Drawdown: 16,553.99 USD (1.65%)
- Total Trades: 1,104
Description
# Candle Pattern Trading Strategy## Core LogicAnalyzes the last 5 candlesticks to identify "close at high" and "close at low" patterns, generating long/short signals.## Trading Conditions- **Long**: ≥2 bars closed at high in past 5 bars + current bar closes at high → Open long- **Short**: ≥2 bars closed at low in past 5 bars + current bar closes at low → Open short- **Filter**: If ≥3 doji patterns detected, skip trading## Risk Management- Stop Loss: Based on entry bar's high/low- Take Profit: Risk × 2x multiplier- Cooldown: No trading for 2 bars after entry- Session Filter: No trading for first 5 bars after market open## Configurable Parameters- Lookback period, doji threshold, close proximity ratio, TP/SL ratio, cooldown bars, etc.**Use Cases**: 1-minute and higher timeframes on stocks/futures