Candle Pattern MT5
The Expert Advisor is based on Japanese candlestick patterns. Each pattern can be enabled or disabled in the EA parameters. The EA works with one signal.
The signal is needed to determine if the trend goes up or down.
The EA trades any currency pair, metals and stocks. All timeframes are supported. It is recommended that you optimize the EA on the history data of the last 2-4 weeks. Pattern recognition, trailing and breakeven parameters should be used for optimization.
The best strategy is to combine some of the patterns and the signal together and not to use all the pattern on the same time.
If the Stoploss is disabled (set to 0), the EA works only with the fixed lot for safety reason.
Supported Candlestick Patterns
- Bullish Engulfing
- Piercing Pattern
- Morning Star
- Dragonfly Doji
- Three Line Strike (bullish)
- Harami Cross (bullish)
- Harami (bullish)
- Three Star In The South
- Three Outside Up
- Three Inside Up
- Inverted Hammer
- Three White Soldier
- Own Pattern (bullish)
- Bearish Engulfing
- Dark Cloud
- Evening Star
- Gravestone Doji
- Three Line Strike (bearish)
- Shooting Star
- Harami Cross (bearish)
- Harami (bearish)
- Three Outside Down
- Three Inside Down
- Three Black Crows
- Hanging Man
- Own Pattern (bearish)
- Magic Number - trade magic number.
- Bullish Candle Pattern - enable or disable the bullish candle pattern.
- Bearish Candle Pattern - enable or disable the bearish candle pattern.
- Slippage - maximum slippage.
- TradeOnBarTrue - whether the EA trades on open bar only or not.
- Money Management - set false, the EA works only with fixed lot.
- RiskPercent - lot is chosen automatically on the basis of the percentage of the balance.
- FixedLotSize - lot. 1 on default.
- Stop Loss - distance to fix loss.
- Take Profit - distance to fix profit.
- UseTrailingStop - if true, trailing stop is activated.
- TrailingStop - distance at which the Stop Loss will be moved after the current price, but only if the positions is profitable. 50 on default.
- MinProfit - minimum level of profit reached before trailing stop begins to work. 0 on default.
- Step - steps of the trailing stop. 10 on default.
- UseBreakEvenStop - if true, Breakeven Stop is activated.
- MinimumProfit - minimum level of profit reached before breakeven starts to work. 0 on default.
- LockProfit - moves the stoploss based on the value of this variable. 0 on default.
- UseMovingAverage - if true, Moving Average indicator is activated to determine the trend.
- SignalPeriod - Amount of past bars needed to generate the signal.
- UseTimer - if true, the timer will only trade between the specified hour and minutes.
- UseLocalTime - if true, the Timer will work with the local time.