Description
// This cBot was created with AlgoBuilderX
//
// AlgoBuilderX is a powerful tool for creating automated trading strategies on the cTrader platform.
// With an intuitive drag-and-drop interface, you can easily build and customize your own trading
// algorithms without any coding knowledge. Whether you're a beginner or an experienced trader,
// AlgoBuilderX offers a seamless experience for developing, testing, and deploying your very own cBot
//
// Visit https://algobuilderx.com to start building your own cBots today!
This cBot is an example, made for demonstration purposes using AlgoBuilderX and works only on demo accounts.
Strategy: The strategy, detects the "Hammer" and "Shooting Star" candlestick pattern based on the values that are parameterizable. The strategy uses a fixed Take Profit and Stop Loss level.
Buy trigger: When a Hammer is formed and the RSI is oversold.
Sell trigger: When a Shooting Star forms and the RSI is overbought
Parameters:
![](/uploads/algos/algo-4148/6627e469a0c7c.png)
*Signal shadow multiplication: If Hammer = lower shadow / If Shooting Star = upper shadow -- must be at least “x” times the body size (i.e.: if hammer and the body size is 3 pips, the lower shadow must be at least 3 times bigger, so 9 pips)
*Max slippage shadow pips: If hammer = upper shadow / If Shooting Star = lower shadow
Backtest example:
![](/uploads/algos/algo-4148/6627e4d72e591.png)
AlgoBuilderX Project:
![](/uploads/algos/algo-4148/6627e50557a29.png)
NEW CANDLE PATTERN BLOCK! Automatically identify preset patterns or create your own custom pattern!
Create your cBot now in an easy and intuitive way!
Try AlgoBuilderX now, no registration required: www.algobuilderx.com
You can find the AlgobuilderX project for free in our Discord channel: https://discord.gg/tYutSeQN
You will be able to import it into the AlgoBuilderX workspace, view it, edit it, or export it.
Important Note:
This cBot is a demonstration example created with AlgoBuilderX and is not optimized for live use. It is designed to illustrate the functionality of AlgoBuilderX and serve as a starting point for creating custom strategies. It is recommended that you carefully test and optimize any strategy before implementing it on a real trading account.
The author decided to hide the source code.
![AlgoBuilderX's avatar](https://social-images-215c11ee-be56.s3.eu-west-2.amazonaws.com/user-6384134/avatars/bigAvatarFileUrl-6384134-1717604998.png)
AlgoBuilderX
Joined on 30.01.2024
- Distribution: Free
- Language: C#
- Trading platform: cTrader Automate
- File name: Hammer & Shooting Star Strategy Demo (www.algobuilderx.com).algo
- Rating: 5
- Installs: 191