Intraday Price Action EA Using Candlestick Patterns and S/R

Summary

This MetaTrader 5 expert advisor evaluates price action on each new bar and trades three patterns: pin bars, engulfing candles, and inside bar breakouts. It can check signals against historical support and resistance, and its configurable moving average filter and opening-hour window add trend and time constraints.

Risk controls include position sizing as a percentage of account balance and stop placement is not described in the excerpt. Order execution adapts to the broker’s filling mode. The document outlines features and input parameters but provides no test results, performance evidence, detailed entry rules, or discussion of market and instrument limits. The listed setups therefore describe the EA’s intended logic rather than evidence that it is profitable.

Key ideas

• The EA evaluates pin bars, engulfing candles, and inside bar breakouts on each new bar.
• Support and resistance lookback can be used to validate pattern signals.
• A moving average filter and an opening time window are configurable.
• Position size is calculated from a percentage of account balance.
• Order submission adapts to the broker’s supported filling mode.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.