Three Candles Trading System
Info
The Three Candles Trading System is a Expert Advisor for MetaTrader 5 that a trading system based on indicator signals. A signal is generated at the close of a bar if a colored indicator candlestick appears.
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 Three Candles Trading System
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 trading system based on indicator signals.
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: mq l5 wizard - trade signals based on three moving averages - another powerful expert for MetaTrader 5 traders.
A trading system based on indicator signals. A signal is generated at the close of a bar if a colored indicator candlestick appears.Also recommended: trade signals using reversal candlestick patterns in mql5 - similar expert with strong performance on MetaTrader 5.
The Expert Advisor uses the compiled indicator file threecandles.ex5 for operation. Save this file to the \"terminal_data_folder\"\mql5\indicators directory.The tradealgorithms.mqh library file enables the use of Expert Advisors with brokers who offer a non-zero spread and the option to set stop loss and take profit simultaneously with position opening. Additional library variants are available for download.
Default Expert Advisor input parameters were used during the tests. Stop loss and take profit were not utilized during these tests.
Figure 1. Examples of deals on the chart.
Testing results for 2015 on EURUSD H6:
Figure 2. Chart of testing results.
You may also like: Trade Signals Based on Bullish/Bearish Harami Candlestick Patterns Confirmed by MFI Indicator using MQL5 Wizard - 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.