butterfly strategy expert advisor with multiple time frames
Info
The butterfly strategy expert advisor with multiple time frames is a Expert Advisor for MetaTrader 5 that butterfly strategy expert advisor this expert advisor (ea) implements the butterfly harmonic trading pattern across multiple timeframes (m2 to d1) for automated forex trading. it detects bullish and bearish butterfly patterns using pivot points and executes trades with customizable risk management and multiple take-profit levels.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Experts folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use butterfly strategy expert advisor with multiple time frames
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
butterfly strategy expert advisor this expert advisor (ea) implements the butterfly harmonic trading pattern across multiple timeframes (m2 to d1) for automated forex trading.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 5. Place the file in the MQL5/Experts folder and restart the terminal.
Description & Settings
Related: EA Money Management Strategy - another powerful expert for MetaTrader 5 traders.
butterfly strategy expert advisorthis expert advisor (ea) implements the butterfly harmonic trading pattern across multiple timeframes (m2 to d1) for automated forex trading. it detects bullish and bearish butterfly patterns using pivot points and executes trades with customizable risk management and multiple take-profit levels.
Also recommended: MA and Envelope Breakout Strategy - similar expert with strong performance on MetaTrader 5.
key features:pattern detection
: identifies butterfly patterns with adjustable pivot parameters and tolerance levels.
multi-timeframe support
: trades on user-selected timeframes (m2, m5, m10, m15, m30, h1, h2, h4, d1).
risk management
: offers fixed or dynamic lot sizing based on account balance and risk percentage.
take-profit strategy
: splits positions into three take-profit levels (default: 50%, 30%, 20%).
break-even & trailing stops
: configurable per timeframe, triggered after tp1 or tp2.
session filter
: optional trading time restrictions (e.g., gmt-based sessions).
pattern quality
: ensures high-quality patterns with a minimum quality score (0.0-1.0).
visual aids
: draws pattern triangles, trend lines, and labels on the chart for clarity.
statistics dashboard
: displays trade stats, including win rate, profit/loss, and drawdown. usage:
enable desired timeframes and configure pattern, risk, and session parameters.
ensure trading is allowed ( allowtrading = true ) and set a unique magicnumber .
monitor the dashboard for performance insights.
ideal for traders seeking automated harmonic pattern trading with robust risk management and visual feedback.
You may also like: expert advisor for the puria method forex strategy - excellent alternative for expert users on MetaTrader 5.
Source Code
яю//+------------------------------------------------------------------+
#property copyright "RobotFX"
#property version "2.00"
#property description "Educational code - RobotFX www.robotfx.org"
#property strict
#include <Trade\Trade.mqh>
CTrade trade;
input group "----- Basic Pattern Parameters -----"
input int PivotLeft = 1; // Number of bars to the left for pivot check
input int PivotRight = 1; // Number of bars to the right for pivot check.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.