About the Pure Price Action Expert Advisor
The Pure Price Action Metatrader 4 Forex Robot is an automated trading system that utilizes a price action strategy in generating buy/sell trade signals that traders can trust.
It is quite an interesting expert advisor.
Once added and activated on any of the desired currency pairs, it sends a push notification to the mobile terminals, whose MetaQuotes IDs are indicated in the “Notification” tab.
Although the Pure Price Action expert advisor works best on the 1-Hour time frame, it can be optimized for use on other timeframes as well.
The Pure Price Action forex robot is quite easy to use and supervise.
It is also known to work for both ECN/Non-ECN brokers.
Free Download
Download the “Pure Price Action.mq4” MT4 robot
Key Features
Indicator-Free Trading
This EA operates without the use of traditional indicators, relying solely on raw price action to make trading decisions.
Pattern Recognition
Identifies key price action patterns, such as inside bars, engulfing candles, and pin bars, to determine optimal entry points.
Automated Trade Execution
Automatically places buy or sell orders based on recognized price patterns, eliminating the need for manual intervention.
Risk Management
Includes built-in risk management features, such as adjustable stop loss and take profit levels, to help protect your capital.
Timeframe Compatibility
Optimized for use on M1 and M5 timeframes, making it suitable for scalping and short-term trading strategies.
Strategy Tester Report
Find below the Pure Price Action forex robot strategy tester report for the EUR/USD forex pair on the 1-Hour chart.
Key Performance
The EA made a total profit of $583.60 from a total of 69 trades.
The largest winning trade generated $168.20 in profits, while the largest losing trade generated a loss of $40.30.
Statistics:
Bars in test: 32816 ticks modelled
Initial deposit: $10000.00
Total net profit: $583.60
Total trades: 69
Largest profit trade: $168.20
Largest loss trade: -$40.30
Consecutive wins: 2
Consecutive losses: 1
How the EA Works
- Monitors the M1 and M5 timeframes for price action patterns.
- Applies a strategy based on inside bars, engulfing candles, and pin bars.
- Executes buy or sell orders when specific patterns are identified.
- Utilizes stop loss and take profit levels for risk management.
- Operates during major trading sessions to ensure liquidity.
Download Now
Download the “Pure Price Action.ex4” Metatrader 4 robot
Parameters & Settings
- Timeframe: M1 and M5
- Risk Level: Adjustable (Low, Medium, High)
- Trade Hours: Major trading sessions (London and New York)
Recommended Trading Setup
- Currency Pairs: EUR/USD, GBP/USD, USD/JPY
- Broker: Choose a broker with low spreads and fast execution
- Account Type: Standard or ECN account
- Leverage: 1:100 to 1:500
FAQ
What price action patterns does this EA trade?
The EA identifies key patterns such as inside bars, engulfing candles, and pin bars to determine potential entry and exit points. These patterns are widely used by professional price action traders.
Which timeframes are most effective for this EA?
The EA works best on M1 and M5 timeframes, making it suitable for scalping and short-term intraday trading strategies. Using higher timeframes may reduce the number of trades.
Can I use this EA on multiple currency pairs?
Yes. While optimized for major pairs like EUR/USD, GBP/USD, and USD/JPY, it can be applied to other pairs, though liquidity and spreads may affect performance.
How does the EA handle risk management?
The EA comes with adjustable stop loss, take profit, and trade size settings. You can configure risk per trade based on your account size to minimize potential losses.
Is the EA suitable for both beginners and experienced traders?
Yes. Beginners can rely on the EA’s automation to trade price action strategies without needing in-depth knowledge, while experienced traders can customize settings for more advanced strategies.
Will the EA work on all brokers?
It works best with brokers offering low spreads and fast execution. High latency or high spreads may affect the EA’s performance, especially on scalping timeframes.
Can I backtest the EA before going live?
Yes, you can backtest the EA in MetaTrader 4 using historical data. This allows you to see how it would have performed in past market conditions before deploying it on a live account.
Summary
The Pure Price Action MetaTrader 4 Forex Robot is a fully automated trading tool that focuses exclusively on price movement patterns, without relying on traditional indicators.
By recognizing key formations like inside bars, pin bars, and engulfing candles, the EA identifies precise trade opportunities for short-term and intraday trading.
It features customizable risk management settings, including stop loss, take profit, and position sizing, allowing traders of all experience levels to control their exposure.
Backtesting shows consistent results on major currency pairs, making this EA a reliable solution for traders seeking efficient, indicator-free automation.
