n candles
Info
The n candles is a Expert Advisor for MetaTrader 5 that the expert advisor searches for n identical candlesticks in a row. it buys on bullish candlesticks and sells on bearish ones.
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 n candles
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
the expert advisor searches for n identical candlesticks in a row.
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: trade signals using reversal candlestick patterns in mql5 - another powerful expert for MetaTrader 5 traders.
the expert advisor searches for n identical candlesticks in a row. it buys on bullish candlesticks and sells on bearish ones. the ea checks if the account is netting or hedging. the , , and trade classes are used in the code.
Also recommended: Trade Signals Based on Bullish/Bearish Harami Candlestick Patterns Confirmed by MFI Indicator using MQL5 Wizard - similar expert with strong performance on MetaTrader 5.
new in version 6added types of closure when a "black sheep" is met:
closing all positions.
closing positions, which are opposite to the "black sheep".
closing positions, which are in the same direction as the "black sheep". "black sheep"
suppose, the expert advisor searches for 5 identical candlesticks. then the ea finds five bullish candlestick in a row and opens a buy position. if the next candlestick after the position opening is not a bullish one, such a candlestick is considered a "black sheep".
input parameters
n identical candles which go in a row
- the number of identical candlesticks in a row.
lot
- position volume.
take profit
- take profit value, the parameter is not used if set to 0.
stop loss
- stop loss value, the parameter is not used if set to 0.
trailing stop
- trailing stop value, the parameter is not used if set to 0.
trailing step
- trailing step value, the parameter is not used if set to 0.
max positions certain direction (only for hedging)
- the maximum allowable number of positions in one direction (only applicable on hedging accounts).
max position volume (only for netting)
- the maximum volume of open positions (only applicable on netting accounts).
.
use trade hours
- enable/disable the time filter.
start hour
- trading start hour.
end hour
- trading end hour.
magic number
- unique ea identifier.
the type of closure at the meeting of the "black sheep"
- select closing type to be applied in case of a "black sheep".
example of testing on d1 from 2017.04.18 to 2018.02.10 in the every tick mode:
You may also like: MQL5 Wizard: Trade Signals Based on Hammer/Hanging Man Candlesticks with CCI Confirmation - excellent alternative for expert users on MetaTrader 5.
Source Code
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⚠ 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.