About the Profitable Candlestick Expert Advisor
The profitable Candlestick EA for Metatrader 4 is a reliable trading robot designed to capitalize on single pin bar and engulfing candlestick patterns.
This expert advisor scans any currency pair and time frame for these candlestick patterns, executing buy & sell trades when these candlestick patterns are detected.
The Candlestick EA consistently executes approximately 1 to 5 trades per day, yielding reliably consistent trading results over extended periods.
The EA avoids excessive automated trading, minimizing broker spread costs.
What sets this EA apart is its flexibility, offering a wide array of adjustable input settings tailored to suit your personal preferences and trading style.
Each trade is secured with a stop loss and take profit target, ensuring optimal risk management.
Impressively, the Candlestick EA has achieved remarkable profitability, boasting a +390.32% gain on the account to date.
We highly recommend testing the Candlestick robot on a demo account before deploying it in live trading.
This trial phase will provide you with a comprehensive understanding of its functionality and performance over an extended period, before using it with real funds.
Free Download
Download the “candlestick EA.ex4” expert advisor
Key Features
Pin Bar and Engulfing Pattern Recognition
The EA identifies key candlestick patterns, such as pin bars and engulfing candles, which are often indicative of potential market reversals or continuations.
Automated Trade Execution
Once the EA detects a valid candlestick pattern, it automatically places trades, including setting stop-loss and take-profit levels, to manage risk and lock in profits.
Customizable Risk Management
Users can adjust parameters such as lot size, risk percentage, and drawdown limits to align with their individual risk tolerance and trading preferences.
Flexible Timeframe and Currency Pair Compatibility
The EA operates effectively across all time frames and is suitable for trading any currency pair, providing versatility in various market conditions.
Consistent Trading Frequency
The EA consistently executes approximately 1 to 5 trades per day, yielding reliably consistent trading results over extended periods. This approach minimizes overtrading and associated costs.
MyFXBook Trading Results
Find below the detailed Profitable Candlestick EA track record. Please click on the image to view it in full size.
Key Points
- Algo trading: 100%
- Gain: +390.32%
- Daily gain: 0.20%
- Monthly gain: 6.27%
- Drawdown: 19.43%
The Profitable Candlestick Forex Robot has demonstrated consistent performance in live market conditions, with verified MyFXBook results showing steady monthly returns and low drawdown.
This indicates that the EA effectively identifies and capitalizes on profitable trade opportunities while managing risk appropriately.
Trading Chart
The picture below shows the Profitable Candlestick Forex robot attached to the Euro/U.S. Dollar 30-minute trading chart.
How the EA Works
- Scans for pin bar and engulfing candlestick patterns across all time frames.
- Validates trade setups based on predefined criteria.
- Automatically places trades with appropriate risk management settings.
- Monitors open trades and adjusts stop-loss and take-profit levels as needed.
Download Now
Download the “candlestick EA.ex4” EA
Parameters & Settings
- Lot Size: Fixed or percentage of account equity.
- Risk Percentage: Defines the risk per trade.
- Max Drawdown: Maximum allowable drawdown before halting trading.
- Time Filter: Specifies trading hours to avoid low liquidity periods.
- Pin Bar Confirmation: Enables or disables confirmation of pin bar setups.
- Engulfing Pattern Confirmation: Enables or disables confirmation of engulfing patterns.
- Trade Direction: Allows trading in both directions or only in the prevailing trend.
Recommended Trading Setup
- Timeframe: 30-minute or higher.
- Currency Pairs: Major pairs like EUR/USD, GBP/USD, USD/JPY.
- Broker: Low spread and fast execution.
- Account Type: ECN or STP for optimal performance.
- Minimum Account Balance: $50 or equivalent.
FAQ
Can I use the Profitable Candlestick EA on timeframes other than 30-minute?
Yes, the EA can be used on other timeframes. However, performance may vary, and it’s recommended to test on a demo account before live trading.
Does the EA require a specific broker?
While the EA can work with most brokers, it’s advisable to use one with low spreads and fast execution to optimize performance.
Summary
The Profitable Candlestick Forex Robot for MT4 is a powerful tool for traders seeking to automate their trading strategies based on candlestick pattern analysis.
With its customizable settings, automated trade execution, and proven performance, it offers a reliable solution for enhancing trading efficiency and profitability.
