The Dark Candle EA MT4 – Free Download

Dark Candle EA Review

In the dynamic world of forex trading, staying ahead requires cutting-edge tools and strategies. One such powerful tool is the Dark Candle EA, an expert advisor designed for the MetaTrader 4 (MT4) platform. This article delves into the intricacies of the Dark Candle EA, shedding light on its features, parameters, and a comprehensive backtest to evaluate its performance.

The Dark Candle EA employs a sophisticated algorithm that identifies and follows market trends. This advanced algorithm considers a broad range of market data and historical information to make accurate predictions. Its adaptive design ensures effectiveness in varying market conditions, making it a standout tool for traders.

Version: 1.5

Best Brokers List

Dark Candle EA works with any broker and any type of account, but we recommend our clients use one of the top forex brokers listed below:

BROKER NAME	REGISTER	Year Founded	Headquartered	Leverage	Minimum Deposit	Regulating
	Register	2007	🇦🇺 Australia 🇨🇾 Cyprus 🇧🇸 The Bahamas 🇸🇿 Seychelles	1:1000	$200	ASIC, SCB, FSA
	Register	2008	🇨🇾 Cyprus	1:Unlimited	$10	CySEC, FCA, FSCA, FSA, BVI
	Register	2009	🇧🇿 Belize	1:2000	$10	FSC
	Register	2009	🇧🇿 Belize	1:3000	$1	IFCS
	Register	2009	🇨🇾 Cyprus 🇦🇺 Australia 🇧🇿 Belize 🇦🇪 Emirates	1:1000	$5	ASIC, CySEC , IFSC
	Register	2010	🇦🇺 Australia	1:500	$200	FCA , ASIC, DFSA
	Register	2011	🇬🇧 England	1:500	$25	CySEC
	Register	2006	🇪🇭 Ireland	1:400	$100	CBI, CSEC, PFSA, ASIC, BVIFSC, FFAJ, SAFSCA,ADGM, ISA

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Dark Candle EA  Settings

Parameters

1. Allow Buy: Enables the EA to open buy trades.
2. Allow Sell: Enables the EA to open sell trades.
3. Max Number of Orders: Sets the maximum number of orders the EA can have open simultaneously.
4. Max One Trade Any Bar: Determines if the EA can open only one trade per bar.
5. FIFO Closing: Specifies whether the EA uses the First In First Out mode for closing trades.
6. Allow Buy and Sell at Same Time: Enables opening both buy and sell trades simultaneously.
7. Magic Number: Assigns an ID number to the orders.
8. Max Spread: Sets the maximum spread for trading.
9. Max Average Spread: Specifies the maximum average spread before the EA refrains from opening a trade.

Money Management Settings

1. Lots: The number of lots if money management is disabled.
2. Money Management: Enables or disables the money management option.
3. Risk Percent: Indicates the risk percentage when money management is enabled.

Indicators Settings

1. Stochastic Timeframe: Timeframe for the Stochastic indicator.
2. Stochastic Slow K, Slow D, Slowing: Parameters for the Stochastic indicator.
3. Stochastic MA Mode: Moving average method for the Stochastic indicator.
4. Stochastic Price: Price used for Stochastic indicator calculation.
5. ATR Timeframe: Timeframe for the Average True Range (ATR) indicator.
6. Main ATR Periods: Number of periods for the main ATR calculation.
7. Entry Timing: Specifies if the EA uses an algorithm to determine the best time to open trades.

Backtest Analysis

Test Period: 2004.01.01 - 2023.11.20
Tick Data Provider: Ducaskopy (TDSv2)
GMT: +2; DST: US

• Initial Capital: $1000.00
• Gross Profit: $9180.63
• Profit Factor: 2.61
• Expected Payoff: $251
• Maximal Drawdown: $1269.11 (480%)

Total Trades: 9655

• Short Positions (Won %): 5515 (75.34%)
• Profit Trades (% of Total): 75.56%
• Largest Profit Trade: $166.41
• Average Profit Trade: $537
• Maximum Consecutive Wins (Profit in Money): 30 (38.03%)
• Maximal Consecutive Profit (Count of Wins): $458.53 (6)
• Average Consecutive Wins: 4
• Relative Drawdown: 66.49%
• Long Positions (Won %): 4140 (75.85%)
• Loss Trades (% of Total): 24.44%
• Largest Loss Trade: -$145.59
• Average Loss Trade: -$635
• Consecutive Losses (Loss in Money): 12 (-$1218.39)
• Max Consecutive Loss (Count of Losses): -$1218.39 (12)
• Average Consecutive Losses: 1

Conclusion

The Dark Candle EA emerges as a robust trading tool, showcasing its adaptability and potential profitability through a comprehensive backtest. Traders seeking advanced strategies and precise market trend identification may find the Dark Candle EA a valuable addition to their arsenal. However, cautious implementation and thorough understanding of the parameters are crucial for maximizing its effectiveness in live trading scenarios.

Download Dark Candle EA

Please try for at least a week an XM demo account. Also, familiarize yourself with and understand how this free forex Tool works before using it on a live account.