Unlock Profits with the Candlestick Analysis EA for MetaTrader 5

This MetaTrader 5 Expert Advisor (EA) is a game-changer for traders looking to enhance their strategy. It seamlessly blends multi-timeframe candlestick pattern analysis with fundamental event filtering, ensuring disciplined risk management at every turn.

Core Strategy

Price Action Focus: This EA relies exclusively on candlestick patterns like pin bars, engulfing candles, and hammers/shooting stars across three different timeframes: M5, H1, and H4. By focusing on these signals, you can make informed trading decisions.

Multi-TF Confluence: It requires alignment between the 5-minute triggers and the trend structure on the higher timeframes (H1 and H4). This confluence helps confirm trade entries, making your strategy more robust.

Risk Management

1.5:1 Risk-Reward Ratio: The EA automatically calculates the take-profit level at 1.5 times the stop-loss distance, ensuring a favorable risk-reward setup.
Margin Safeguards: It limits margin usage to less than 30% by default and adjusts position sizing automatically to maintain capital safety.
Dynamic Stops: Depending on market volatility, it employs ATR (Average True Range) scaling or fixed pip distances for optimal stop-loss placement.

News Filter

Pre-Event Shutdown: The EA closes all positions two hours before high-impact news events such as GDP, NFP, and CPI to mitigate risks associated with market volatility.
Volatility Avoidance: It avoids opening new trades during scheduled high-risk periods, keeping your account secure during turbulent times.

Operational Design

5-Minute Execution: Trades are triggered on the M5 chart while respecting the broader context provided by H1 and H4 charts.
Session Limits: This EA trades only during peak liquidity hours, specifically from 8 AM to 5 PM server time, optimizing your chances for success.

Strengths

Eliminates indicator lag through pure price action analysis.
Strict risk control via fixed risk-reward ratios and margin caps.
Adapts to both trending and ranging markets effectively.

Ideal For:

Traders focusing on EURUSD and other major pairs during active trading sessions.
Those seeking systematic execution with built-in event-risk protection.

This EA strikes a perfect balance between technical pattern recognition and macroeconomic awareness. It prioritizes preserving your capital while aiming for consistent 1.5:1 reward scenarios, making it a valuable addition to any trader's toolkit.