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Published:

2025.03.31 06:34

mp candlestick.mq5 (20.79 KB) view

Download as ZIP, How to download code from MetaEditor

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This MT5 Expert Advisor combines multi-timeframe candlestick pattern analysis with fundamental event filtering to execute trades with disciplined risk management. Key features:

Core Strategy

Price Action Focus: Relies solely on candlestick patterns (pin bars, engulfing, hammers/shooting stars) across three timeframes (M5, H1, H4) for trade signals.

Multi-TF Confluence: Requires alignment between 5-minute triggers and higher-timeframe (H1/H4) trend structure.

Risk Management

1.5:1 Risk-Reward Ratio: Automatically calculates take-profit at 1.5x stop-loss distance.

Margin Safeguards: Limits margin usage (<30% by default) and auto-adjusts position sizing.

Dynamic Stops: Uses ATR volatility scaling or fixed pip distances for stop-loss placement.

News Filter

Pre-Event Shutdown: Closes all positions 2 hours before high-impact news events (GDP, NFP, CPI).

Volatility Avoidance: Prevents new trades during scheduled high-risk periods.

Operational Design

5-Minute Execution: Triggers trades on M5 chart while respecting H1/H4 context.

Session Limits: Only trades during peak liquidity hours (8 AM–5 PM server time).

Strengths:

Eliminates indicator lag through pure price action analysis

Strict risk control via fixed RR ratio and margin caps

Adaptive to both trending and ranging markets

Ideal For:

EURUSD and other liquid majors during active sessions

Traders seeking systematic execution with event-risk protection

This EA balances technical pattern recognition with macroeconomic awareness, prioritizing capital preservation while targeting consistent 1.5:1 reward scenarios.

Ranging Market Detector

An indicator which attempts to highlight a ranging market area

Withdrawal Tracking

This is a piece of code to add to an existing Expert advisor to track withdrawals from your account where the EA is running. It helps the user to monitor his or her withdrawals from a particular account.

PSAR Zigzag (Non lagging)

A zigzag based on the trend change of the parabolic sar

SingleTesterCache

Tester's single pass data.

Candlestick Analysis EA R1 - expert for MetaTrader 5