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An automated MetaTrader 5 expert advisor that trades eight strategies built on Japanese candlestick patterns. It offers percentage-of-ADR stop levels, time and price filters, and set files for many symbols.
Get one message the moment it launches, with its price.
This expert advisor for MetaTrader 5 trades automatically using eight separate strategies, each based on a well-known Japanese candlestick pattern. It opens and manages positions without manual input, and it comes with set files for a range of symbols.
The EA reads completed candles on the chart and looks for the candlestick formations that each of its built-in strategies is based on. When a pattern appears and the time and price filters allow a trade, it opens a position and manages it with the exit rules you have chosen. You can run strategies individually or in combination, depending on how the inputs are set.
Exit levels can be placed as hard levels held on the server or as virtual levels held by the EA. Stop loss, take profit, break-even and trailing stop distances can be expressed as a percentage of the Average Daily Range, so that distances scale with the recent volatility of each symbol instead of being fixed in points.
The developer's description states that it does not use martingale, grid or averaging. The store lists it under a grid tag, so confirm in the Strategy Tester and on a demo account how many positions it opens per symbol before using real funds.
The EA is aimed mainly at forex pairs, and set files are supplied for many symbols and instruments. The right timeframe depends on the set file you load, so check the settings of each file instead of assuming one timeframe suits every symbol. The supplied files were prepared for ECN raw spread accounts on servers using a GMT+3 time zone. If your broker uses a different server time, adjust the time inputs accordingly.
Exact input names and defaults can differ between releases, so read the inputs list in the terminal and the settings guide that comes with the product. The areas below are the ones to review first.
| Area | What to check |
|---|---|
| Strategy selection | Which of the eight strategies are enabled for the symbol |
| Position size | Fixed lot or risk-based sizing, matched to your account |
| Stop loss and take profit | Percentage of Average Daily Range, hard or virtual |
| Break-even and trailing | Trigger and step distances as a percentage of ADR |
| Time filter | Trading hours aligned with your broker's server time |
| Price levels | Any upper or lower price limits for trading |
Keep the risk per symbol small, because several symbols running at once add up. The developer suggests using the supplied set files and a risk per symbol of 0.5% or lower. Test any change on a demo account first, and remember that spreads, slippage and server time all affect candle-based systems.
Trading carries risk, and you can lose some or all of your capital. Backtest results and past performance do not predict future results. This tool does not remove market risk.
Before going live, run the EA in the Strategy Tester and on a demo account for long enough to see how it behaves on your broker's data. A VPS is useful if you want it to run continuously.
| Product type | Expert Advisor |
|---|---|
| Platform | MetaTrader 5 (expert advisor) |
| Strategy focus | Grid |
| Delivery | Download from your account after purchase |
| License key | Not needed |
| Status | Launching soon |
| Category | Expert advisor, fully automated |
| Strategy base | Eight candlestick pattern strategies |
| Markets | Forex pairs and other symbols; check the supplied set files |
| Timeframes | Depends on the chosen set file; check before use |
| Trade management | Stop loss, take profit, break-even, trailing stop |
| Stop types | Hard (server-side) or virtual levels |
| Requirements | Algo trading enabled; a VPS is recommended for continuous running |
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No. This version is built for MetaTrader 5 only and cannot be loaded into MetaTrader 4. Check that your broker offers an MT5 account before buying.
The included set files were prepared for ECN raw spread accounts on servers that use a GMT+3 time zone. Other brokers can be used, but you may need to adjust the time settings to match your server clock, and spreads and execution can change the results.
The developer's description states that martingale, grid and averaging are not used, although the store listing carries a grid tag. Because behaviour can differ by settings, run the Strategy Tester and a demo account first and check how positions are opened and managed.
Copy the expert advisor file into the Experts folder via File, Open Data Folder, MQL5, Experts in MetaTrader 5. Restart the terminal or refresh the Navigator, drag the EA onto a chart, enable Algo Trading and load the set file for that symbol.
Start with the set file that matches your symbol rather than the default inputs. Then check lot size or risk, time filters and the stop settings against your own account and broker server time.
Yes, it is designed for unattended operation and can run on a VPS or any computer that keeps MetaTrader 5 open and connected. Make sure the set files and time settings carry over to the VPS terminal.
Japanese Candlestick Patterns EA MT5
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