3 White Soldiers system | Foreign exchange EA download- MT4/MT5 resources
This is the famous 3 white soldiers and black crows system. Please google to learn more about this system
Introduction
If we see 3 consecutive green bars, each candle closing higher than the previous candle, then we call it 3 White Soldiers. The high of each candle must be higher than the previous high, and the close must be higher than the previous close. This is a reversal pattern, so for best results it should occur at a swing low. But we never hit swing lows, so use your judgment. If the third candle has a very small body, then we may have run out of momentum. Also, if the third candle has a long body, then we may also have advanced too far. These are all subjective. It's best if each candle has a very small vic/tail.
In this case, we buy long on the breakout of the third candle high.
A similar situation occurs with red candles. we call them black crows
Entries
Go long when the third electrode breaks through the high point. The third black crowbar shorted out when it broke. For best results, check the position and size of the bars above
quit
The system only has stops. No profit taking. The initial stop for longs is the low of the third candle, and the initial stop for shorts is the high of the third candle. After each bar, move the stop loss to the low (long) and high (short) of the previous bar.
You can have your own exit strategy, but I found this to be easy and profitable.
H4 and daily. I wouldn't recommend other time slots unless the location is really good
GBP/USD and EUR/USD. It should work on any major currency pair. But I got great results using just these two pairs
This is an EA for this purpose, you can do backtesting and forward testing.
Introduction
If we see 3 consecutive green bars, each candle closing higher than the previous candle, then we call it 3 White Soldiers. The high of each candle must be higher than the previous high, and the close must be higher than the previous close. This is a reversal pattern, so for best results it should occur at a swing low. But we never hit swing lows, so use your judgment. If the third candle has a very small body, then we may have run out of momentum. Also, if the third candle has a long body, then we may also have advanced too far. These are all subjective. It's best if each candle has a very small vic/tail.
In this case, we buy long on the breakout of the third candle high.
A similar situation occurs with red candles. we call them black crows
Entries
Go long when the third electrode breaks through the high point. The third black crowbar shorted out when it broke. For best results, check the position and size of the bars above
quit
The system only has stops. No profit taking. The initial stop for longs is the low of the third candle, and the initial stop for shorts is the high of the third candle. After each bar, move the stop loss to the low (long) and high (short) of the previous bar.
You can have your own exit strategy, but I found this to be easy and profitable.
H4 and daily. I wouldn't recommend other time slots unless the location is really good
GBP/USD and EUR/USD. It should work on any major currency pair. But I got great results using just these two pairs
This is an EA for this purpose, you can do backtesting and forward testing.
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