Chandelier Firestorm Forex Robot
A feisty fellow bringing together concepts from Guppy, and Rahul Mohindar
Full speed ahead when the trend is strong
Proud member of our Forex algorithmic family, this robot has over time proven to be one of our most profitable offerings. Inspired by Australian investor Daryl Guppy, and Indian celebrity trader Rahul Mohindar, this Forex robot opens multiple trades in the direction of the trend, backed up by the RMO.
Add to this our modified Chandelier Indicator, and you have a lot of power at your fingertips.
One of the things that impede the progress of trend traders in their pursuit of profits, is that they are too cautious when the trend is finally there, perhaps often coupled with leaving trades too early.
The Chandelier Firestorm Forex robot aims to increase profits, when trend is strong. The algo features a modified Chandelier indicator for trade direction, and ADX filter for measuring trend strength, RMO for confirmation that can be enabled or disabled, posibility of exiting trades when crossing a fast moving average, along with the option of defining take profit and stop loss levels.
Battle-tested on multiple timeframes and currency pairs, profit levels are high, especially when paired with the optimal currency pair and timeframe.
Needless to say, it fares best in strongly trending currencies, which makes the EURUSD an excellent choice for this one.
Sample Trading Results
Backtested on several currencies, timeframes and with the use of tick data.
Chandelier Firestorm Features
A breakdown of the strategies employed, the reasoning behind trades, and the selection of indicators being used by the algorithm.
Design & Operation
In this section you can learn more about the gist of the robot, our general design decisions, along with modes of operation.
Trading Logic
Trades are opened in the most likely direction based on the Chandelier indicator. Multiple trades are opened in the trending direction. Add to this RMO and ADX for increased precision in the trading.
Modes of Operation
Rahul Mohindar Oscilator (RMO)
Automatic and semi-automatic
Directional Movement System
Fixed take profit
Fixed stop loss
Exit on MA cross
Risk Management
Chandelier reversing signal
Platform
cTrader for Windows.
Indicators used
Our Forex robots use a number of different indicators. Here you will discover which indicators have been utilized with this one.
Chandelier Indicator
Atr multiplier
RMO
Lens02
Lens03
Lens04
ADX Filter
Level
General Recommendations
All bots should be optimized and backtested on a regular basis. Still, here we provide you with our current tips and advice for optimal results.
Ideal Market Conditions
This bot fares well in diverse markets, but still works best in trending markets, especially when there is strength and substance in the trend.
Currency Pairs
Any currency pair can be used, as long as they trend more often than not.
Timeframes
M1
M5
M10
M15
M30
H1
H4
H12
D1
Threats and Opportunities
Threats
Markets that don’t move enough to set about a trend, but enough to generate a false Chandelier reversal.
Opportunities
Few things beat the Chandelier in a strongly trending market. Due to its multiple trade characteristic, accounts have been seen tripling their value in a matter of months.
What makes our candles tick
We love what we do, and want you to have the best possible experience in the wonderful world of Forex trading. That’s why we do the following:
We value your money
We take utmost pride in valuing, firstly, the capital you intend to invest, secondly, the money spent with us!
Battle-tested Forex Robots
All our Forex algos have seen real-life action i.e. have been tested on live accounts.
Attention to detail
Our customers are center stage, at all times. We frequently do follow-up talks for feedback and support.
Delivery
cTrader robots are delivered instantly. Selected MT4 Robots are Build to Order with a 7-day delivery time.
Serious Backtesting
We only backtest with tick data. This means our backtests are truly representative of potential results.
Money-back Guarantee
We offer an iron-clad 30-day money-back guarantee provided you send us an explanation why.
