previous candle breakdown 2
Info
The previous candle breakdown 2 is a Expert Advisor for MetaTrader 5 that added the parametersstart time (hour) - operation start hourstart time (minute) - operation start minuteend time (hour) - operation end hourend time (hour) - operation end minute besides, trailing now works at each tick. the ea waits for breaking down any timframe from 1 minute through 1 month.
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 previous candle breakdown 2
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
added the parametersstart time (hour) - operation start hourstart time (minute) - operation start minuteend time (hour) - operation end hourend time (hour) - operation end minute besides, trailing now works at each tick.
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.
added the parameters
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.
start time (hour) - operation start hour
start time (minute) - operation start minute
end time (hour) - operation end hour
end time (hour) - operation end minute
besides, trailing now works at each tick.
the ea waits for breaking down any timframe from 1 minute through 1 month. bar #1 is checked for breakdown at a specified timeframe
breakdown previous candle
. it is also possible to enable two filters - moving average.
note! for the filters to operate, it is necessary that averaging periods
fast: av. period
and
slow: av. period
are above zero.
in the ea, trailing is implemented that (at the first modification of the stop loss level) moves stop loss to breakeven.
position size can be both permanent (
lots
above zero and
risk
is equal to zero) and dynamically calculated in the risk percents per trade (
risk
above zero and
lots
is equal to zero).
note! no situations may be allowed, where:
both "lots" and "risk" are above zero;
both "lots" and "risk" are equal to zero.
upon reaching the target profit
close all positions when profit is achieved
, all positions will be closed. the ea ensures that no more than one position in each direction is opened at the specified timeframe
previous candle breakdown
.
fig. 1. current timeframe: m15, breakdown is set to h4
inputs
previous candle breakdown
- timeframe of the candlestick to be broken down;
indent from high or low
- indent from high and low of the broken-down candlestick;
fast: av. period
- moving average "fast": averaging period; if it is set to zero, the filter from indicators "fast" and "slow" will not be used;
fast: horizontal shift
- moving average "fast": horizontal shift of the indicator;
fast: type of price
- moving average "fast": type of the price, on which the indicator is calculated;
slow: av. period
- moving average "slow": averaging period; if it is set to zero, the filter from indicators "fast" and "slow" will not be used;
slow: horizontal shift
- moving average "slow": horizontal shift of the indicator;
slow: type of price
- moving average "slow": type of the price, on which the indicator is calculated;
fast and slow: smoothing type
- averaging type (common for both "fast" and "slow");
stop loss
- stop loss;
take profit
- take profit;
trailing stop
- trailing (it works as breakeven at the first modification of stop loss);
trailing step
- trailing step;
lots
- lot size is permanent (
risk
must be set to zero);
risk
- lot size is calculated dynamically in the risk percents per trade (
lots
must be set to zero);
maximum number of positions in one direction
;
close all positions when profit is achieved
.
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.