Golden hummer
- Experts
- Version: 9.4
- Activations: 5
Trading robot based on candlestick pattern recognition (Price Action)
Brief Description
This Expert Advisor implements a trading strategy based on the analysis of Japanese candlestick structures. The robot identifies candlesticks with specified body-to-shadow ratios (so-called "hammers" and "inverted hammers") and opens positions in the direction determined by the signal. The strategy does not use indicators, relying solely on the price structure of the candle.
The EA is universal but shows the best results when parameters are properly selected for a specific instrument.
Type and Classification
Golden Hummer belongs to the category of trend-following experts, but not in the classical sense (moving averages), but in a broader sense — it looks for direction based on candlestick reversal and continuation patterns (Price Action methodology).
The robot is NOT:
- Martingale (no lot increase after losses)
- Grid (no order grid)
- Arbitrage (does not use multiple instruments/brokers)
- Hedging (does not open opposite positions)
- Scalping (works on daily candles)
- News-based (does not analyze economic calendar)
- Neural network (does not use AI)
- Multi-currency (trades on a single instrument)
Key Features
- Pattern recognition – analyzes the closed candle and calculates the percentage ratio of the upper shadow, lower shadow, and body. When falling within the specified ranges, a buy or sell signal is generated.
- Two interpretation modes – you can choose which shadow is considered the signal shadow (upper for BUY and lower for SELL, or inverted mode).
- Flexible range settings – you define the minimum and maximum percentage of the long shadow, maximum body percentage, and maximum opposite shadow percentage. Adaptable to any market conditions.
- 15 special signals – built-in slots for exact patterns (Special Signals). You can set ideal proportions with tolerance. When matched, the trade is opened with priority, bypassing the general ranges.
- Candle size filter – limits the maximum candle length in points to ignore excessively large (noisy) movements.
- Trailing stop – an automatic mechanism that activates upon reaching a specified profit and moves the stop loss behind the price, locking in accumulated profit.
- Time-based close – allows setting the number of bars after which the position will be closed (if stop loss or trailing stop hasn't triggered).
- Chart visualization – when a trade is opened, an arrow (green for BUY, red for SELL) with a label is drawn on the signal candle, simplifying monitoring.
- Margin control – checks the sufficiency of free funds before opening a trade, preventing critical situations.
Usage Recommendations
- Run the robot in a calm market. When volatility is moderate and there is no news background, the probability of false signals and sharp price spikes is significantly reduced. This is especially important for gold (XAUUSD), which is sensitive to news.
- Use settings optimized for a specific instrument and timeframe. Below are proven parameters for XAUUSD (gold) on the M5 (5-minute) chart.
- Before launching on a live account, be sure to backtest the selected settings.
- For stable operation, use a VPS with minimal latency to the broker.
Recommended Settings for XAUUSD (M5)
These parameters are specifically selected for trading gold on the 5-minute timeframe. They take into account the volatility specifics of XAUUSD and allow the robot to effectively identify candlestick patterns during calm market periods.
| Parameter | Recommended Value |
|---|---|
| LotSize | 0.02 |
| InitialStopLoss | 250 |
| TakeProfit | 0 |
| BarsToHold | 0 |
| SignalMode | 0 |
| MinShadowPercent | 46.0 |
| MaxShadowPercent | 95.0 |
| MinBodyPercent | 3.0 |
| MaxBodyPercent | 40.0 |
| MaxOppositeShadow | 7.0 |
| MaxCandleSizePoints | 400 |
| SpecialShadow1 | 60.0 |
| SpecialBody1 | 40.0 |
| SpecialOppShadow1 | 0.0 |
| SpecialShadow2 | 70.0 |
| SpecialBody2 | 30.0 |
| SpecialOppShadow2 | 0.0 |
| SpecialTolerance | 2.0 |
| UseTrailing | true |
| TrailingStart | 250 |
| TrailingStop | 50 |
| MinBarsBetweenTrades | 5 |
| MinStopDistance | 50 |
Important Notes
- The strategy is based on historical data; past results do not guarantee future profits.
- It is strongly recommended to backtest thoroughly and optimize parameters for the specific instrument and timeframe before using on a live account.
- The EA does not use indicators and does not rely on macroeconomic data – it reacts solely to the price structure of candles.
- For stable operation, it is recommended to run the EA on a VPS (Virtual Private Server) with 24/7 internet access.
Requirements
- Platform: MetaTrader 5 (any broker with automated trading allowed).
- Timeframe: M5 recommended for XAUUSD and D1 for currency pairs.
- Instruments: any currency pairs, metals (XAUUSD), cryptocurrencies (if available in MT5).
- Deposit: recommended from 1000 USD (or equivalent) for comfortable risk management.
The EA is supplied in compiled form ( .ex5 ) with open source code ( .mq5 ) for optional customisation. Documentation with full parameter descriptions and setup examples is included.
Use it wisely, manage risks, and test before applying.
