About the Price Action Expert Advisor
The Price Action Metatrader 4 Forex Robot uses a price action “no lag” strategy to initiate buy/sell market triggers.
It deploys a set of logic that analyzes market patterns, coupled with support and resistance on different time frames.
Moreover, it observes the relative size, position, shape, volume, and growth of bars within the candlestick chart.
We recommend starting trading the Price Action forex robot on a free forex MT4 demo account before putting it to work on a live trading account.
It is the behavioral interpretation of price action that this robot uses to build a buy/sell trading strategy.
Free Download
Download the “PRICE_ACTION.mq4” MT4 robot
Key Features
Pattern Recognition
Detects common candlestick formations such as pin bars, engulfing patterns, and inside bars to generate high-quality entry signals aligned with market direction.
Support & Resistance Monitoring
Automatically identifies key horizontal levels and trendlines, helping the EA to enter trades at optimal retracement or breakout points.
Trend Filter
Evaluates market structure to confirm that trades are executed in the direction of prevailing trends, reducing false entries in choppy markets.
Dynamic Risk Management
Adjusts lot size based on account balance and user-defined risk settings, ensuring consistent risk exposure across trades.
Adaptive Stop Loss & Take Profit
Sets stop-loss and take-profit levels according to recent volatility, swing highs/lows, or user-defined multipliers, enabling smart trade exits.
Strategy Tester Report
Find below the Price Action forex robot strategy tester report for the EUR/USD forex pair on the 4-Hour chart.
Key Performance
Demo backtests show the Price Action EA can deliver steady returns in trending and consolidating markets.
Performance may vary based on broker conditions, spreads, and market volatility.
The EA made a total profit of $5323.70 from a total of 407 trades.
The largest winning trade generated $561.30 in profits, while the largest losing trade generated a loss of $193.04.
Statistics:
Bars in test: 10129 ticks modelled
Initial deposit: $10000.00
Total net profit: $5323.70
Total trades: 407
Largest profit trade: $561.30
Largest loss trade: -$193.04
Consecutive wins: 3
Consecutive losses: 2
How the EA Works
- Scans charts for predefined candlestick patterns indicating potential reversals or continuations.
- Identifies key support and resistance levels to filter high-quality trades.
- Applies a trend filter to align trades with market direction.
- Calculates lot size based on user risk settings and account balance.
- Executes trades automatically with adaptive stop-loss and take-profit levels.
- Monitors open positions and closes trades based on reversal signals or profit targets.
Download Now
Download the “PRICE_ACTION.ex4” Metatrader 4 robot
Parameters & Settings
- RiskPerTrade – percentage of account equity risked per trade
- UseCandlestickPatterns – enable or disable pattern recognition
- SupportResistanceLevels – auto or manual level selection
- TrendFilter – enable or disable trend confirmation
- StopLossMultiplier – adjust SL based on recent volatility
- TakeProfitMultiplier – adjust TP based on swing range
- MaxSpread – maximum spread allowed to open trades
- SessionStart / SessionEnd – define active trading hours
Recommended Trading Setup
- Currency Pairs: EURUSD, GBPUSD, USDJPY—liquid pairs with clear candlestick behavior
- Timeframes: M5, M15, H1 depending on trading style
- Broker: ECN or low-latency brokers to reduce slippage
- Risk Settings: Start with 0.25%–0.5% per trade on live accounts
- Environment: Use VPS hosting for continuous, stable execution
FAQ
Q: Is this EA suitable for beginners?
A: Yes, the EA automates trade execution, but beginners should use a demo account first to understand its signals and risk management.
Q: Can it trade multiple pairs simultaneously?
A: Yes, the EA can run on multiple charts, but ensure unique Magic Numbers are used for each instance.
Q: Which timeframe is optimal?
A: M5 and M15 work well for scalping, while H1 is ideal for trend-following entries.
Q: Does it include trailing stop features?
A: Yes, optional trailing stops can be enabled to lock in profits as the price moves favorably.
Q: Are profits guaranteed?
A: No. Forex trading involves risk. Always test on a demo account before using real funds, and adjust risk settings accordingly.
Summary
The Price Action Metatrader 4 Forex Robot is an intelligent EA that uses candlestick patterns, support/resistance levels, and trend filters to generate high-probability trade setups.
With dynamic risk management, adaptive stop-loss/take-profit levels, and automated execution, it is suitable for scalping and trend-following strategies.
