Japanese Candlestick Patterns EA MT4/5 Settings/Inputs Guide

• Allow Long: True/false for opening Buy orders.

• Allow Short: True/false for opening Sell orders.

• Lot Size: The Lot Size of orders.

• Use Risk %: True/false of the Risk % option

• Risk %: The % of account's balance that it will be risked in every trade. Risk is calculated on Virtual Stop Loss level.

• Magic Number: The Magic Number assigned in every trade.

• EA Comment: The comment all trades of the Japanese Candlestick Patterns EA MT4/5 will have in the comments section of the Terminal/Toolbox window of your MT4/5 terminal.

• Offset in Points: The better level from current price in points that the EA will wait for opening a new trade.

• Try Minutes: The time in minutes that the EA will persist opening the desired trade.

• Timeframe: The Timeframe that the EA will function and open trades.

• Opposite Logic: True/false setting of the option to open the opposite trade, a buy instead of sell and vice versa

• Use 3 White Soldiers / 3 Black Crows Strategy: True/false of the option to use this strategy. 3 White Soldiers are 3 consecutive bullish candles and 3 Black Crows are 3 consecutive bearish candles. *

• Use 3 Outside Up / Down Strategy: True/false of the option to use this strategy. 3 Outside Up are 3 candles, the 1st bearish, followed by a bullish candle that engulfs the first and another bullish one after that. The opposite for the 3 Outside Down strategy. *

• Use 3 Inside Up / Down Strategy: True/false of the option to use this strategy. 3 Inside Up are 3 candles, the 1st bearish, followed by a bullish candle with a smaller body than the first and another bullish one after that. Both bullish candles together must engulf entirely the 1st bearish candle. The opposite for the 3 Outside Down strategy. *

• Use 4 Candles Up / Down Strategy: True/false of the option to use this strategy. 4 Candles Up are 4 consecutive bullish candles, with a bearish candle between them and 4 Candles Down are 4 consecutive bearish candles, with a bullish candle between them. *

• Candles Number: The Number of Candles in a pattern. This setting is only valid for the 3 White Soldiers / 3 Black Crows strategy. If the number of candles is 2 these patterns will function with 2 consecutive bullish or bearish candles. If this setting is 4, these patterns will function with 4 consecutive bullish or bearish candles.

• Minimum Single Candle Size in Points: The Minimum body size of each Candle in a pattern, under which the EA will not open a trade. This is very useful in order to avoid very small bodies or crosses that can often misinterpreted in a pattern.

• Maximum Single Candle Size in Points: The Maximum body size of each Candle in a pattern, over which the EA will not open a trade. This is very useful in order to avoid very large bodies that have already exhausted a move in the desired direction.

• All Candles Minimum Size in Points: The Minimum body size of All Candles combined in a pattern, under which the EA will not open a trade. 

• All Candles Maximum Size in Points: The Maximum body size of All Candles combined in a pattern, under which the EA will not open a trade. This is very useful in order to avoid very large bodies that have already exhausted a move in the desired direction.

• Daily Candle Minimum Size in Points: The Minimum Size of present Day’s range in points, under which the EA will not open a trade.  For example if today’s range is 200 points and this setting is 220, the EA will not open a trade upon a received signal.

• Daily Candle Maximum Size in Points: The Maximum Size of present Day’s range in points, over which the EA will not open a trade.  For example if today’s range is 800 points and this setting is 700, the EA will not open a trade upon a received signal.

• Use Maximum from Day’s High: True/false of the below option.

• Maximum from Day’s High in Points: The Maximum distance from present Day’s high, over which the EA will not open a sell trade. This is useful in order to avoid opening sell trades very far away from the highest level of the day.

• Use Maximum from Day’s Low: True/false of the below option.

• Maximum from Day’s Low in Points: The Maximum distance from present Day’s low, over which the EA will not open a buy trade. This is useful in order to avoid opening buy trades very far away from the lowest level of the day.

• Close Trade Before New One: True/false setting of the option to close the already running trade, before opening the next one.

• Session Orders: The maximum number of trades per trading session, between Start and End Time. With a 0 setting, all available trades will be opened

• Start Hour: The hour the EA will start functioning, for example if you want to start trading at 1:00 you put here 1, if you want to trade 24 hours, you put here 0.

• Start Minutes: The minutes the EA will start functioning, for example if you want to start trading at 1:05 you put here 5, if you want to trade 24 hours, you put here 0.

• End Hour: The hour the EA will stop functioning, for example if you want to stop trading at 1:30 you put here 1, if you want to trade 24 hours, you put here 23.

• End Minutes: The minutes the EA will stop functioning, for example if you want to stop trading at 1:30 you put here 30, if you want to trade 24 hours, you put here 59.

• Trade on Monday: True/false setting for trading on Mondays.

• Trade on Tuesday: True/false setting for trading on Tuesdays.

• Trade on Wednesday: True/false setting for trading on Wednesdays.

• Trade on Thursday: True/false setting for trading on Thursdays.

• Trade on Friday: True/false setting for trading on Fridays.

• Trade on Saturday: True/false setting for trading on Saturdays.

• Trade on Sundays: True/false setting for trading on Sundays.

• Maximum Spread in Points: The Maximum Spread allowed.

• Maximum Slippage in Points: The Maximum Slippage allowed.

• Stop Loss in Points: The Stop Loss level for every order.

• Take Profit in Points: The Take Profit level for every order.

• Virtual Stop Loss in Points: The Virtual Stop Loss level for every order.

• Virtual Take Profit in Points: The Virtual Take Profit level for every order.

• Use Partial Closure: True/false setting of the Partial Closure of the current open trade.

• Partial Closure Level in Points: The profit level of the current open trade in points, that the EA will close a percentage of this trade to secure some profit.

• Partial Closure %: The percentage of the current open trade’s size, that it will be closed from the above option.

• Basket Take Profit %: The Take Profit level in % of balance (decimals are available) for all open positions combined, in which the EA will close all open positions. This setting/option is calculated as equity over balance, taking swaps and commissions into account.

• No Trading Candles: The time of the Candles we don’t want the EA to trade, separated by comma. For example with a setting of: 13:45,14:45 the EA will not trade at these specific candles.

• No Trading Candles Timeframe: The Timeframe of the above setting. For example if we choose: 15 Minutes, the EA will skip the above candles in this timeframe.

* In all strategies, only bodies are taking into account, while shadows are ignored.