Candlestick Patterns Trader
- Experts
- Version: 1.0
- Activations: 5
Candlestick Patterns Trader is a rule-based Expert Advisor that automates trading around 12 classic Japanese candlestick reversal and continuation patterns. Every entry is filtered through a structural context engine that checks whether the pattern actually formed at a meaningful swing high or low, rather than firing on every random candle shape. All trade management after entry — target scaling, stop trailing, reversal exit, and time-based exit — is fully automatic, removing the emotional decision-making (hesitation, greed, fear, revenge trading) that affects manual pattern trading.
WHAT IT TRADES
The EA recognizes the following patterns, each of which can be enabled or disabled independently:
- Hammer / Hanging Man
- Inverted Hammer / Shooting Star
- Morning Star / Evening Star
- Bullish Engulfing / Bearish Engulfing
- Three Black Crows
- Three Advancing Soldiers
- Rising Three Methods
- Tower Top
- Marubozu (Bullish / Bearish)
A pattern only triggers a trade when it appears at a validated structural swing point (a real recent high or low), which is designed to filter out a large share of the false signals that raw candlestick-shape detection produces on its own.
TRADE MANAGEMENT
- Staggered exits at 1R / 2R / 3R / 4R, closing a configurable percentage of the position (25% by default) at each level.
- Automatic stop-loss trailing after every target hit, with a configurable break-even safety buffer.
- Reversal exit: if an opposite pattern appears while a trade is open and stays confirmed for a set number of bars, the position is closed.
- Forced time-based exit after a configurable number of bars, regardless of the trade's current state.
- Position sizing based on account risk percentage (or a fixed lot size), with a hard maximum lot cap.
RISK & EXECUTION SAFEGUARDS
- Maximum spread filter, trading-session/hour filter, and an optional Friday cut-off to avoid weekend gap risk.
- Optional Economic Calendar news filter that pauses new entries around high-impact news for the symbol's currencies.
- Daily loss limit (%) and a maximum number of trades per day, with an option to close all open positions automatically once the daily loss limit is reached.
- Per-trade state (targets hit, open time, reversal flag) is stored persistently, so it is not lost if the terminal or EA restarts while a trade is open.
- Order sending includes configurable slippage tolerance and automatic retry on temporary broker rejection (requote, timeout, connection drop).
- Respects the broker's minimum stop-loss distance automatically to avoid invalid-stops rejections.
- Works on both Netting and Hedging accounts (a warning is logged on Netting accounts if more than one simultaneous position is configured, since multiple entries merge into a single net position).
ON-CHART TOOLS
- Every detected signal (historical and live) is drawn on the chart as an arrow with a short label, so you can visually verify what the EA is reacting to. Hover over any arrow to see the full pattern name.
- A live on-chart dashboard shows the active pattern count, open positions, target configuration, current spread vs. the allowed maximum, and today's trade count.
- Two on-chart buttons: Pause/Resume new trading (open trades keep being managed normally) and Close All Positions.
- Optional automatic chart styling on start (hide grid lines, set bullish/bearish candle colors).
- Optional CSV trade log (every open, target hit, reversal exit, and time exit) for your own performance review.
- Push, pop-up alert, sound, and email notifications on trade events.
RECOMMENDED SETTINGS
- Symbols: EUR/USD, GBP/USD, XAU/USD (Gold), BTC/USD — liquid instruments with relatively tight spreads, which produce cleaner candlestick shapes.
- Timeframe: H1 or H4. Lower timeframes generate more false signals; timeframes above D1 reduce the number of trading opportunities.
- The EA can also run on the chart's current timeframe automatically if preferred.
INPUT CONFIGURATION
All 12 patterns, all risk-management rules, all filters, and all display options are exposed as input parameters, organized into clearly named groups (pattern selection, structural context sensitivity, target/stop management, spread/session/news filters, daily protection, notifications, CSV logging, and chart appearance) so the EA can be tuned to a specific broker, symbol, or trading style without touching the code.
IMPORTANT NOTES
- This product does not guarantee profit. Past or backtested performance does not guarantee future results. Trading forex, metals, and cryptocurrencies carries a high level of risk and can result in the loss of your invested capital.
- Always test on a demo account or in the Strategy Tester on your target symbol, timeframe, and broker conditions before running on a live account.
- A VPS is recommended for uninterrupted 24/5 operation.
