Image 3, a small gap is allowed between one of the candles and the Boxx. Here we see the gap that is allowed between the two level candles and the Boxx. This gap is limited to the thickness of the trend line tools thickest setting.
Draw a line with the trend line tool and set it to the thickest setting then move the line to the gap to check if the gap complies to this rule.
Note, the thickness of the gap is not set in stone. I think that while most traders will accept this setting some would prefer either a smaller or larger gap. If so, you should experiment with the thickness of the gap until you reach your satisfactory level.
​There are four parts to this simple strategy.
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Cevn-Boxx
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Level Candles
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Third Candle
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Trade Candle
Strategy Setup
This is an extremely simple trading strategy that most traders new and old will have no trouble understanding then applying profitably on the forex market.
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There are no trading rules for this trading strategy. The trader should follow their own trading plan. However, if you would like the trading rules I use for this stratgey then feel free to contact me and I will forward you a copy of them to you.
QUICK START
Image 2, the Cevn-Boxx is added to the level candles either above or below the candles. You must ensure the coloured Boxx's are in the correct position for the right trade. A Blue Boxx below the level candles for a buy trade and a Tan Boxx above the level candles for a sell trade, as shown above.
Image:2
​Image 1, shows both the level candles setups after they have been formed. Their colour or position is not important just as long as they are level.
1. Cevn-Boxx's
The first thing to do is create two rectangles each four candles wide, one Tan and the other Blue. The colours are not really important, however if you choose bolder colours you will be unable to see the wicks beneath.
To draw the Boxx you need to use the rectangle tool that appears on the drawing toolbar on the top of the MT4/5 chart screen.
2. Level Candles
The first part of the setup is to locate two level candles. That is two candles that open and close around the same price. This is the opening part of the strategy and they are known as the 'Level Candles'.
Image:1
Image:3
3. Third Candle
The third candle unoriginally titled the 'third candle' is the second and final part of the candlestick pattern.
This candle can appear either partially or wholly within the confines of the Boxx to produce the required 'L' shaped candlestick pattern.
​Image 4, the 'L' shaped arrow line indicates the candlestick pattern that the trader needs be aware of for this strategy. The two 'Level Candles' with the 'Third Candle' that is either fully or partially within the Boxx creating the 'L' shaped pattern.
