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Candle EA MT5 is an expert advisor for MetaTrader 5 that reads candlestick patterns to identify trend direction and opens trades with a stop loss and take profit. It is aimed at major forex pairs on M30, H1 and H4.
Get one message the moment it launches, with its price.
Candle EA MT5 is an automated trading tool for MetaTrader 5 that looks for trend direction by reading candlestick patterns. It places trades on its own, attaches a stop loss and take profit, and offers several protective options such as breakeven, a trailing stop and a spread filter.
The expert analyses the shape and sequence of recent candles on the chart it is attached to. When a pattern suggests that price is moving in a particular direction, it opens a buy or a sell in line with that trend. Each trade has a defined profit target and loss limit, so every position has an exit planned from the start. The developer states that it does not use martingale or hedging, and that it handles positions in a way that is compatible with FIFO rules, which some brokers and prop firms require.
The suggested symbols are EURUSD, GBPUSD, AUDUSD and USDCAD. The main recommended timeframe is M30, with H1 and H4 also listed as suitable. The expert can be loaded on other symbols, but it was not designed around them and results may differ. Brokers with tight spreads and reliable execution are generally a better fit for this kind of short-term pattern logic.
The inputs below are described by the developer. Exact names, defaults and value ranges can vary, so open the input dialog after loading the expert and review each value before trading.
| Setting | Purpose |
|---|---|
| Magic number | Identifies this expert's trades; use a different number for each expert on the account |
| Order long / Order short | Turn buy or sell trades on or off |
| Comment | Label added to orders so you can tell them apart |
| Risk | Percentage of the account risked per trade for automatic lot sizing; start small |
| Manual lot | Use a fixed lot size instead of automatic sizing |
| Take profit / Stop loss | Profit and loss limits, set in points |
| Breakeven enable / Breakeven | Moves the stop to the entry price once a set number of points in profit is reached |
| Trailing stop | Follows price to help protect open profit |
| Max spread | Blocks new trades when the spread is wider than the limit, in points |
| Days of the week | Choose which days the expert may trade |
The developer suggests keeping the risk percentage modest, around 2 percent or less, especially when you first start. Whatever value you choose, test it in the Strategy Tester and on a demo account so you can see how drawdowns look with your broker's data.
Trading carries risk, and you can lose some or all of your capital. Past results, including backtests, do not predict future ones. Test on a demo account first and only trade with money you can afford to lose.
If you plan to leave it running for long periods, consider a VPS so the terminal stays online while trades are open.
| Product type | Expert Advisor |
|---|---|
| Platform | MetaTrader 5 |
| Strategy focus | Trend |
| Delivery | Download from your account after purchase |
| License key | Not needed |
| Status | Launching soon |
| Category | Expert advisor (automated trading) |
| Strategy | Trend following using candlestick patterns |
| Suggested symbols | EURUSD, GBPUSD, AUDUSD, USDCAD |
| Timeframes | M30, H1, H4 (M30 is the main suggestion) |
| Position handling | No martingale or hedging; FIFO compatible |
| Lot sizing | Percentage risk or fixed manual lot |
| Requirements | Algo trading enabled; terminal kept running or on a VPS |
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Download the file from your account and copy it into the MQL5/Experts folder via File > Open Data Folder in MetaTrader 5. Restart the terminal or refresh the Navigator, drag the expert onto a chart of a supported pair, and make sure Algo Trading is switched on in the toolbar and in the expert's properties.
No. This product is built for MetaTrader 5 only and will not load in MT4. Check that your broker offers an MT5 account before buying.
The developer states that the expert recognises such symbols automatically, so no special setting should be needed. Test it on a demo account with your broker's symbol names to confirm the behaviour.
A VPS is not required, and you can run the expert only during the hours you choose. However, if a trade is open it is better to keep the terminal running so the stop loss, breakeven and trailing logic can keep working. A VPS makes that easier.
It will trade on other symbols, but the suggested pairs and timeframes are the ones it was designed around, and results on other markets may differ. Test any change in the Strategy Tester and on a demo account first.
This depends on your broker, the symbol and your risk setting, so no single figure fits everyone. Run a backtest with your own settings and broker data, then confirm the results on a demo account before using real funds.
Candle EA MT5
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