simple three inside pattern ea
Info
The simple three inside pattern ea is a Expert Advisor for MetaTrader 5 that a simple expert advisor that trades only when the price movement has formed a three from within pattern. there are two patterns of the pattern.
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 simple three inside pattern ea
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
a simple expert advisor that trades only when the price movement has formed a three from within pattern.
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: Simple EMA Cross Expert Advisor with Stop Loss, Take Profit, and Magic Number - another powerful expert for MetaTrader 5 traders.
Also recommended: simple moving average (ma) expert advisor - similar expert with strong performance on MetaTrader 5.
a simple expert advisor that trades only when the price movement has formed a three from within pattern. there are two patterns of the pattern.1.
"three from inside" up
(fig. 1) : this is a three candle pattern where the first candle is a long bearish candle, the second is a small bullish candle that trades inside the first candle, and the third is a long bullish candle that closes above the high of the first candle.
2.
"three from inside" down
(fig. 2) :
this is such a pattern consisting of three candles in which, the first candle is a long bullish candle, the second candle is a small bearish candle that trades inside the first candle and the third candle is a long bearish candle that closes below the low of the first candle.
during trading, the expert advisor can open only one long or one short position.
You may also like: simple expert advisor: combining sma and adx for effective trading - excellent alternative for expert users on MetaTrader 5.
Source Code
яю//+------------------------------------------------------------------+
#property copyright "RobotFX"
#property link "https://robotfx.org"
#property version "1.00"
input ushort Stop_Loss = 500; // !B>?-;>AA
input ushort Take_Profit = 500; // "59:-?@>D8B
input double Lot = 0.1; // >B
input ulong Magic_Number = 3119; // 038G5A:89 =><5@
MqlTick mql_tick;
MqlRates mql_rates[];.......
⚠ 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.