Piercing Line ProLab MT5
- Experts
- Version: 1.0
- Activations: 5
Piercing Line ProLab MT5
A flexible MetaTrader 5 Expert Advisor built around the Piercing Line candlestick pattern. Build your own rules instead of using one fixed strategy.
Pattern control: tune candle range, body size, wick limits, body ratios, signal direction and pattern timeframe. Detection looks for a bearish candle followed by a bullish candle opening at or below the prior close (within tolerance) and closing above the prior body's midpoint but below the prior open. Signals use completed candles and can be processed once per new candle.
Optional filters: a point-based Spread Filter, two Moving Average filters, RSI, Parabolic SAR, Stochastic, MACD and ADX. Each indicator filter has its own configurable timeframe; the spread limit is measured in points.
Trade management: fixed Stop Loss and Take Profit, optional Normal/SAR/ATR trailing, Break Even, USD profit/loss limits, session and day filters, daily equity protection and drawdown protection. Execution checks permissions, volume, margin, digits, filling mode, Stop Level and Freeze Level.
Optional modules are disabled by default. Test with your broker and symbol before live use. No profits are promised.
MetaTrader 5 EA • price action tools • multi-timeframe filters • risk management
