Range Bar Strategy + Martingale (Made With AlgoBuilderX)

// This cBot was created with AlgoBuilderX
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This cBot is an example, made for demonstration purposes using AlgoBuilderX and works only on demo accounts.

Strategy: We took as an example the "Range Bar Strategy" published by Spotware. (https://ctrader.com/algos/cbots/show/3944) and optimized it to the candlestick chart.

We defined additional conditions such as the length of the shadows and applied a Martingale Strategy.

Buy Trigger: The red candle must have a top shadow but no bottom shadow. The green candle must not have a top shadow but must have a bottom shadow.
The green candle must open at the close of the red candle. The green candle must close above the opening of the red candle.

Sell Trigger: The green candle must not have a top shadow but must have a bottom shadow. The red candle must not have a lower shadow but must have a higher shadow.
The red candle must open at the close of the green candle. The red candle must close below the opening of the green candle.

Parameters:

Backtest example:

AlgoBuilderX Project:

You can find the project of this strategy for free inside our discord channel: https://discord.gg/JMpPECCx

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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.