N Candles
Info
The N Candles is a Expert Advisor for MetaTrader 5 that the expert advisor (ea) identifies n consecutive identical candlesticks and executes trades based on their direction. It supports both hedging and netting account types, utilizing the CTrade, CTradePosition, and CTradeOrders classes.
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 (EA) identifies N consecutive identical candlesticks and executes trades based on their direction.
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 (EA) identifies N consecutive identical candlesticks and executes trades based on their direction. It supports both hedging and netting account types, utilizing the CTrade, CTradePosition, and CTradeOrders classes.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 6:
- Added types of closure when a 'black sheep' candlestick is encountered:
- Closing all positions.
- Closing positions opposite to the 'black sheep'.
- Closing positions in the same direction as the 'black sheep'.
A 'black sheep' candlestick is defined as a candlestick that deviates from the N consecutive identical candlesticks. For example, if the EA is set to find 5 identical bullish candlesticks, and it opens a buy position, the next candlestick must also be bullish. If it is not, it is considered a 'black sheep'.
Input Parameters:
- N identical candles which go in a row: The number of consecutive identical candlesticks required to trigger a trade.
- Lot: Position volume.
- Take Profit: Take profit value. If set to 0, this parameter is not used.
- Stop Loss: Stop loss value. If set to 0, this parameter is not used.
- Trailing Stop: Trailing stop value. If set to 0, this parameter is not used.
- Trailing Step: Trailing step value. If set to 0, this parameter is not used.
- Max Positions Certain Direction (only for hedging): The maximum number of positions allowed in one direction for hedging accounts.
- Max Position Volume (only for netting): The maximum volume of open positions for netting accounts.
- Use Trade Hours: Enable or 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 the closing type to be applied when a 'black sheep' candlestick is encountered.
Example of testing on D1 from 2026.04.18 to 2026.02.10 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.