✔️ Japanese Candlestick Patterns EA ΜΤ4©: https://www.mql5.com/en/market/product/45732
✔️ Japanese Candlestick Patterns EA ΜΤ5©: https://www.mql5.com/en/market/product/45800
Video Guide: How to Set Up Japanese Candlestick Patters EA MT4/5 with Provided Set Files - Please Enable Subtitles in this YouTube Video!
RECOMMENDATIONS FOR OCTOBER 2026
For the Japanese Candlestick Patterns EA MT4/5, my current recommendation is to TRADE ONLY the following (and NOT ALL provided) set files: AUDJPY, CADJPY, EURUSD, GBPUSD, US500, USDJPY, USTEC with a risk of 0.5% or lower per trade.
You can find the Japanese Candlestick Patterns EA MT4/5 set files, along with detailed instructions and advice, at the bottom of this guide.
Please Enable Subtitles in this Video!
How the Japanese Candlestick Patterns EA Generates Trading Signals
The Japanese Candlestick Patterns EA uses predefined bullish and bearish candlestick patterns to generate Buy and Sell signals.
When one of the enabled bullish patterns is detected, the EA can generate a Buy signal. When one of the enabled bearish patterns is detected, the EA can generate a Sell signal.
The EA offers four configurable candlestick-pattern strategy families:
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3 White Soldiers / 3 Black Crows
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3 Outside Up / Down
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3 Inside Up / Down
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4 Candles Up / Down
You can enable or disable each strategy independently, allowing the EA to trade only the candlestick patterns you want to use.
Important: In all pattern strategies, the EA evaluates the candle bodies only. Candle shadows/wicks are ignored when determining whether the required pattern has formed.
After a valid pattern is detected, the additional candle-size, daily-range, price-location, trading-time, spread and other enabled conditions determine whether the EA is allowed to open the trade.
Japanese Candlestick Patterns EA MT4/5 Settings/Inputs Guide
General Trading Settings
Allow Long: Enables or disables Buy trades. Set to True to allow the EA to open Buy trades, or False to disable them.
Allow Short: Enables or disables Sell trades. Set to True to allow the EA to open Sell trades, or False to disable them.
Lot Size: Defines the fixed lot size used for trades.
Use Risk %: When set to True, the EA calculates the lot size according to the configured Risk % instead of using the fixed Lot Size.
Risk %: Defines the percentage of the account balance to be risked per trade. The lot size is calculated automatically using the Virtual Stop Loss level.
Magic Number: A unique identifier assigned to trades opened by the EA. This helps distinguish Japanese Candlestick Patterns EA trades from other trades running on the same account.
EA Comment: Defines the text that appears in the Comments section of the MT4/MT5 Terminal/Toolbox for trades opened by the EA.
Offset in Points: Defines the number of points away from the current price that the EA will wait for a better entry before opening a new trade.
Try Minutes: Defines how many minutes the EA will continue trying to open the desired trade after a valid trading signal has been generated.
Timeframe: Defines the timeframe on which the EA analyzes candlestick patterns and generates its trading signals.
Opposite Logic: When enabled, the EA opens the opposite trade from the normally generated candlestick-pattern signal.
For example, a bullish pattern that would normally generate a Buy trade will generate a Sell trade instead, while a bearish pattern will generate a Buy trade.
Candlestick Pattern Strategies
3 White Soldiers / 3 Black Crows
Use 3 White Soldiers / 3 Black Crows Strategy: Enables or disables this candlestick-pattern strategy.
3 White Soldiers consists of consecutive bullish candle bodies and generates a bullish signal.
3 Black Crows consists of consecutive bearish candle bodies and generates a bearish signal.
The actual number of consecutive candles required can be adjusted using the Candles Number setting below.
Candles Number: Defines the number of consecutive bullish or bearish candles required for the 3 White Soldiers / 3 Black Crows strategy.
This setting applies only to this strategy.
For example:
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A value of 2 requires 2 consecutive bullish or bearish candles.
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A value of 3 uses the traditional 3-candle configuration.
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A value of 4 requires 4 consecutive bullish or bearish candles.
This allows you to control how many consecutive candles are required before the EA recognizes the pattern.
3 Outside Up / Down
Use 3 Outside Up / Down Strategy: Enables or disables the 3 Outside Up / Down strategy.
A 3 Outside Up pattern consists of:
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A bearish candle.
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A bullish candle whose body engulfs the body of the first bearish candle.
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Another bullish candle.
When this bullish pattern is completed, the EA can generate a Buy signal.
The 3 Outside Down pattern uses the opposite formation:
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A bullish candle.
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A bearish candle whose body engulfs the body of the first bullish candle.
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Another bearish candle.
When this bearish pattern is completed, the EA can generate a Sell signal.
Only the candle bodies are considered when evaluating these patterns; shadows/wicks are ignored.
3 Inside Up / Down
Use 3 Inside Up / Down Strategy: Enables or disables the 3 Inside Up / Down strategy.
A 3 Inside Up pattern consists of:
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A bearish candle.
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A bullish candle with a smaller body than the first bearish candle.
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Another bullish candle.
The two bullish candle bodies together must completely engulf the body of the first bearish candle.
When this bullish formation is completed, the EA can generate a Buy signal.
The 3 Inside Down pattern uses the opposite formation and can generate a Sell signal.
Only candle bodies are considered when evaluating the pattern; shadows/wicks are ignored.
4 Candles Up / Down
Use 4 Candles Up / Down Strategy: Enables or disables the 4 Candles Up / Down strategy.
The 4 Candles Up formation consists of 4 bullish candles with a bearish candle between them and can generate a Buy signal.
The 4 Candles Down formation consists of 4 bearish candles with a bullish candle between them and can generate a Sell signal.
As with the other strategies, only the candle bodies are used for pattern recognition.
Candlestick Pattern Size Filters
These settings do not generate trading signals themselves. Instead, they filter the candlestick patterns detected by the EA according to the size of their candle bodies.
This allows you to reject patterns containing candles that are too small or too large.
Minimum Single Candle Size in Points: Defines the minimum body size, in points, required for each individual candle in a pattern.
If any required candle body is smaller than this value, the EA will reject the pattern and no trade will be opened.
This can help exclude very small candle bodies or cross-like formations that you do not want the EA to accept as part of a pattern.
Maximum Single Candle Size in Points: Defines the maximum permitted body size, in points, for each individual candle in a pattern.
If a required candle body is larger than this value, the pattern is rejected.
This can be used to avoid entering after an unusually large candle movement.
All Candles Minimum Size in Points: Defines the minimum required combined body size, in points, of all candles forming the pattern.
If the combined candle-body size is below this value, the EA will reject the signal.
All Candles Maximum Size in Points: Defines the maximum permitted combined body size, in points, of all candles forming the pattern.
If the combined candle-body size exceeds this value, the EA will reject the signal.
This can be used to avoid entering after a pattern that has already produced an unusually large price movement.
Daily Range Filters
The Daily Candle settings provide another layer of filtering based on how much the instrument has already moved during the current trading day.
They do not generate candlestick-pattern signals themselves. They determine whether an otherwise valid signal is allowed to result in a trade.
Daily Candle Minimum Size in Points: Defines the minimum required range of the current daily candle.
For example, if today's range is 200 points and this setting is 220 points, the EA will not open a trade from a detected pattern because the day's range has not yet reached the required minimum.
Daily Candle Maximum Size in Points: Defines the maximum permitted range of the current daily candle.
For example, if today's range is 800 points and this setting is 700 points, the EA will not open a trade because the current day's range has already exceeded the configured maximum.
Distance from the Current Day's High and Low
These settings allow you to filter trades according to the current price's distance from the day's high or low.
Sell Trades
Use Maximum from Day's High: Enables or disables the maximum-distance-from-day's-high filter for Sell trades.
Maximum from Day's High in Points: Defines the maximum permitted distance between the current price and the current day's high for opening a Sell trade.
If a bearish candlestick pattern generates a Sell signal but the current price is farther from the day's high than the configured maximum, the EA will skip the Sell trade.
This can be used to avoid opening Sell trades after price has already moved too far down from the day's highest level.
Buy Trades
Use Maximum from Day's Low: Enables or disables the maximum-distance-from-day's-low filter for Buy trades.
Maximum from Day's Low in Points: Defines the maximum permitted distance between the current price and the current day's low for opening a Buy trade.
If a bullish candlestick pattern generates a Buy signal but the current price is farther from the day's low than the configured maximum, the EA will skip the Buy trade.
This can be used to avoid opening Buy trades after price has already moved too far up from the day's lowest level.
Existing Trade and Session Controls
Close Trade Before New One: When enabled, the EA closes the currently running trade before opening a new trade.
When disabled, a new valid trade can be opened without first closing the existing trade, subject to the EA's other settings.
Session Orders: Defines the maximum number of trades the EA can open during each trading session between the configured Start and End times.
A value of 0 allows all available valid trades to be opened without applying a maximum number of trades per session.
Trading Time and Day Settings
Start Hour: Defines the hour at which the EA begins opening new trades. This setting uses your broker's server time.
For example, enter 1 to begin trading at 01:00. For a full-day trading session, use 0.
Start Minutes: Defines the exact minute within the Start Hour at which the EA begins opening new trades.
For example, use Start Hour 1 and Start Minutes 5 to begin trading at 01:05.
End Hour: Defines the hour at which the EA stops opening new trades.
For a full-day trading session, use 23.
End Minutes: Defines the exact minute within the End Hour at which the EA stops opening new trades.
For example, use End Hour 23 and End Minutes 59 for a session ending at 23:59.
Trade on Monday: Enables or disables opening new trades on Mondays.
Trade on Tuesday: Enables or disables opening new trades on Tuesdays.
Trade on Wednesday: Enables or disables opening new trades on Wednesdays.
Trade on Thursday: Enables or disables opening new trades on Thursdays.
Trade on Friday: Enables or disables opening new trades on Fridays.
Trade on Saturday: Enables or disables opening new trades on Saturdays.
Trade on Sundays: Enables or disables opening new trades on Sundays.
Spread and Execution Settings
Maximum Spread in Points: Defines the maximum spread, in points, allowed for opening a new trade.
If the current spread exceeds this value when a valid candlestick-pattern signal occurs, the EA will not open the trade.
Maximum Slippage in Points: Defines the maximum permitted slippage, in points, when executing a trade.
Stop Loss, Take Profit, Break Even and Trailing Stop
Use SL/TP Levels in: Select either Points or Percentage of Average Daily Range to determine how the Stop Loss, Take Profit, Break Even and Trailing Stop Loss levels are calculated.
If Points is selected, the EA uses the fixed point values configured below.
If Percentage of Average Daily Range is selected, the EA uses the ADR percentage settings further below instead.
The two methods are alternatives; the selected method determines which group of settings is used.
Stop Loss in Points: Defines the fixed Stop Loss distance, in points, for each trade.
Take Profit in Points: Defines the fixed Take Profit distance, in points, for each trade.
Virtual Stop Loss in Points: Defines a Stop Loss level managed internally by the EA instead of being placed as a visible Stop Loss order with the broker.
Virtual Take Profit in Points: Defines a Take Profit level managed internally by the EA instead of being placed as a visible Take Profit order with the broker.
Break Even Profit in Points: Defines the number of points in profit required before the EA moves the Stop Loss to the trade's entry price.
Trailing Start in Points: Defines the profit level, in points, at which the EA begins trailing the Stop Loss.
Trailing Stop in Points: Defines the distance, in points, that the Trailing Stop Loss maintains behind the current price.
Trailing Step in Points: Defines the increment, in points, by which the Trailing Stop Loss is adjusted as price moves in the trade's favor.
Average Daily Range (ADR) Levels
Average Daily Range Candles: Defines the number of daily candles used to calculate the Average Daily Range.
The resulting ADR is used when Percentage of Average Daily Range is selected for the SL/TP calculation method.
Stop Loss in % of ADR: Defines the Stop Loss as a percentage of the instrument's Average Daily Range.
For example, if this setting is 30 and the calculated ADR is 1000 points, the Stop Loss will be 300 points.
Take Profit in % of ADR: Defines the Take Profit as a percentage of the instrument's Average Daily Range.
For example, if this setting is 50 and the ADR is 1000 points, the Take Profit will be 500 points.
Break Even in % of ADR: Defines the profit level at which the EA moves the Stop Loss to Break Even, calculated as a percentage of ADR.
For example, a value of 20 with an ADR of 1000 points activates Break Even at 200 points of profit.
Trailing Start in % of ADR: Defines the profit level at which the EA begins trailing the Stop Loss, calculated as a percentage of ADR.
For example, a value of 40 with an ADR of 1000 points means trailing begins at 400 points of profit.
Trailing Stop in % of ADR: Defines the Trailing Stop Loss distance as a percentage of ADR.
For example, a value of 30 with an ADR of 1000 points creates a Trailing Stop distance of 300 points.
Trailing Step in % of ADR: Defines the Trailing Stop adjustment step as a percentage of ADR.
For example, a value of 10 with an ADR of 1000 points means the Trailing Stop is adjusted in 100-point increments.
Partial Closure
Use Partial Closure: Enables or disables the Partial Closure feature.
When enabled, the EA can close part of an open trade after the configured profit level has been reached, allowing part of the position to be secured while the remaining portion stays open.
Partial Closure Level in Points: Defines the profit level, in points, at which the EA performs the partial closure.
Partial Closure %: Defines the percentage of the current trade size that will be closed when the Partial Closure Level is reached.
For example, a value of 50 means that the EA will attempt to close 50% of the trade when the configured profit level is reached, subject to the broker's permitted lot size and lot-step requirements.
Basket Take Profit
Basket Take Profit %: Defines the Take Profit level for all applicable open positions combined as a percentage of account balance.
When the configured level is reached, the EA closes the applicable open positions.
Decimal values can be used.
The calculation is based on equity relative to balance and takes swaps and commissions into account.
Excluding Specific Trading Candles
No Trading Candles: Allows you to specify individual candle times during which the EA is not allowed to open trades.
Enter multiple times separated by commas.
For example:
13:45,14:45
With these settings, the EA will skip trading signals occurring on the specified candles.
No Trading Candles Timeframe: Defines the timeframe to which the No Trading Candles times apply.
For example, if 15 Minutes is selected and the No Trading Candles setting contains 13:45,14:45, the EA will skip the corresponding 15-minute candles beginning at those times.
This feature can be useful when you want to exclude particular recurring periods from the EA's trading schedule.
Automatic Time-Based Trade Closure
Close All Trades on: Enables or disables the automatic closure of all open trades at a specified time.
You can select a particular day of the week or every day.
This can be used to control overnight, rollover or weekend exposure.
The EA will not automatically close additional trades that are opened after the configured closing time. If you do not want any new trades to be opened after this time, set the EA's End Hour/Minutes earlier than the configured closing time.
Close All Trades Hour: Defines the hour at which the EA automatically closes the open trades on the selected day. This setting uses the broker's server time.
For example, to close trades at 22:40, enter 22.
Close All Trades Minutes: Defines the minute at which the automatic closure occurs.
For example, to close trades at 22:40, enter 40.
✔️ Japanese Candlestick Patterns EA ΜΤ4©: https://www.mql5.com/en/market/product/45732
✔️ Japanese Candlestick Patterns EA ΜΤ5©: https://www.mql5.com/en/market/product/45800
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