The Z-Candle Plus strategy is based on the Z-Candle system designed by the Italian trader Alessandro Zicolella. The Z-Candle charts work like Heikin Ashi charts but, according to their Italian creator, they have several additional advantages.
The following elements are typical for the Z-Candle Plus strategy:
The Z-Candle Plus strategy can be used for day trading and scalping.
Suitable for | : Market indices (DAX, DOW...) |
Instruments | : Futures and CFDs |
Trading type | : Scalping and day trading |
Trading tempo | : Several signals per day |
Using NanoTrader Full | : Manual or (semi-)automated |
Click here to buy the Z-Candle Plus strategy in the store.
Click here to test a free demo of the NanoTrader trading platform.
The Z-Candles can be combined with any type of main chart (Renko, range bar, candles …). The strategy’s Italian designer, however, strongly recommends using Renko charts.
A signal occurs when:
The time filter only allows signals between 09h10 and 18h00. The trader can change these values.
Also unique is the ‘quality’ setting for the inversion candle. A lower quality setting results in more signals of a lower quality. A quality setting of 4 or less is considered low quality.
Tip: Below the Z-Candles a visual aid in the shape of vertical green/red bars appears. The aid shows all inversion candles, including those which are rejected by the time filter.
The open position is managed by a profit target and a periods high-low stop. The profit target is set to 0,2%. Position are not kept overnight. Any position still open at 21h00 will be closed automatically by the flat filter at the market price if (semi-)automated trading is activated.
This example
shows the Renko chart at the top, the unique Z-Candles in the
middle and the visual aid at the bottom. The purple zones in
the main chart indicate the period during which the filter
rejects signals.
This example
shows two trades. A short sell and a buy. The unique inversion
Z-Candles which trigger the trades are visible below the Renko
chart. Both trades reach their profit target.
Using the NanoTrader Full follow these steps:
Click here to buy the Z-Candle Plus strategy in the store
Click here to test a free demo of the NanoTrader trading platform