Two Candle Reversal M15 EA
- Utilitários
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Stephen Barasa
i program and create working expert advisors for mt5, the advisors/ robots that i create are also used personally, ny the time i put it out for a sale it means i want you to benefit as well.
please enjoy and provide feedback so that we can improve on the products. - Versão: 3.1
- Ativações: 15
CANDLESTRIKE EA FOR METATRADER 4.
candlestrike Ea is a native MetaTrader 4 Expert Advisor built around a simple, rule-based M15 reversal strategy.
The EA analyzes the two most recently closed M15 candles and looks for a specific two-candle pattern:
2 consecutive bearish candles → BUY signal
2 consecutive bullish candles → SELL signal
The strategy is designed to identify potential short-term reversal opportunities after consecutive directional candles.
The EA runs entirely inside MT4, with no Python bridge or external software required.
KEY FEATURES
🔄 Two-Candle Reversal Logic
The EA evaluates only closed M15 candles, ensuring that the signal is based on completed candle data rather than the currently forming candle.
BUY condition:
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First closed M15 candle is bearish
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Second closed M15 candle is bearish
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Candle filters, if enabled, must pass
SELL condition:
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First closed M15 candle is bullish
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Second closed M15 candle is bullish
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Candle filters, if enabled, must pass
The EA processes a new signal once per newly opened M15 candle.
📊 THREE TRADE MODES
Choose how the EA manages consecutive signals.
ONE_TRADE
Allows only one active trade at a time.
If a position already exists, a new signal is ignored.
REVERSE_TRADE
The EA can respond to an opposite signal by closing the existing opposite-direction position before opening the new trade.
Same-direction duplicate positions are not opened.
MULTIPLE_TRADES
Every new confirmed signal can open another trade.
This mode allows multiple positions generated by subsequent qualifying signals.
🛡️ STOP LOSS & TAKE PROFIT
The EA includes configurable Stop Loss and Take Profit settings.
Default configuration: 1R:2R
Stop Loss: 7,000 points
Take Profit: 14,000 points
Both can be enabled or disabled through the EA inputs.
The EA also respects the broker's minimum stop-distance requirements when placing orders.
📈 TRAILING STOP
The EA includes an adjustable trailing-stop system.
Default settings:
Trailing Start: 1,500 points OR 5,000
Trailing Distance: 800 points OR 2000
Trailing Step: 100 points keep as it is.
Trailing management is checked on every incoming tick while qualifying positions are active.
🎯 OPTIONAL CANDLE FILTERS
The EA includes configurable candle-quality filters that allow you to control which two-candle formations qualify for trading.
Available filters include:
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Minimum candle body
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Maximum candle body
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Minimum candle range
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Maximum candle range
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Minimum upper wick
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Maximum upper wick
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Minimum lower wick
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Maximum lower wick
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Minimum body/range ratio
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Maximum body/range ratio
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Minimum combined candle body
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Maximum combined candle body
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Require second candle to be larger than the first
These filters can be used to restrict entries to specific candle characteristics.
⚡ SPREAD CONTROL
The EA includes an optional maximum-spread filter.
If enabled, the EA checks the current spread before processing a trading signal and will reject the setup when the spread exceeds the configured maximum.
💰 LOT SIZE
The default lot size is:
0.05 lots but recommend 0.01 to monitor tp and sl points as per your broker.
The EA automatically normalizes the requested lot size according to the broker's minimum lot, maximum lot and lot-step specifications.
🖥️ NATIVE MT4 EA
No Python installation is required.
No external bridge is required.
No external application is required.
The trading logic, signal detection, order execution and trailing management are handled directly by the MT4 Expert Advisor.
⚙️ DEFAULT SETTINGS
| Setting | Default |
|---|---|
| Timeframe | M15 |
| Lot Size | 0.05 |
| Trade Mode | ONE_TRADE |
| Stop Loss | 7,000 points |
| Take Profit | 14,000 points |
| Trailing Stop | ON |
| Trailing Start | 1,500 points |
| Trailing Distance | 800 points |
| Trailing Step | 100 points |
| Candle Filters | ON |
| Maximum Spread | Disabled |
| Buy Trades | Enabled |
| Sell Trades | Enabled |
🔍 HOW THE EA WORKS
M15 Candle 2
↓
M15 Candle 1
↓
Check candle direction
↓
Apply candle filters
↓
Check spread
↓
Generate BUY or SELL signal
↓
Execute trade
↓
Manage position with trailing stop
This creates a clearly defined, mechanical trading process with no discretionary chart analysis required.
⚠️ RISK DISCLOSURE
Trading leveraged financial markets involves significant risk.
This Expert Advisor is a software tool and does not guarantee profits.
Past backtest or demo performance does not guarantee future results.
Always test the EA on a demo account and understand your broker's execution conditions before using real funds.
Trade with controlled risk and never trade money you cannot afford to lose.
