Price Action EA Source Code V1.0 MQ5
The Price Action EA Source Code V1.0 MQ5 is an expert advisor (EA) designed for traders who rely on price action strategies. It eliminates the need for additional indicators, focusing solely on market movements and candlestick patterns to identify optimal trading opportunities.
Key Features
- No Indicators Needed: Pure price action strategy based on market behavior.
- Customizable Parameters: Allows you to adjust risk, lot size, and trade filters.
- Built on MQ5: Compatible with MetaTrader 5 for advanced algorithmic trading.
Minimum Deposit Requirements
- Standard Account: $100+
- Micro Account: $50+
- Recommended Capital: $500 for stable and consistent performance.
The EA can be scaled based on your risk appetite and account size.
Time Frame to Run
The recommended time frames for the Price Action EA Source Code V1.0 MQ5 are as follows:
- H1 (Hourly): Best for identifying short-to-medium-term price action patterns.
- H4 (4-Hour): Suitable for capturing longer trends and reducing noise.
- M15 : Suitable for conservative traders focusing on high-probability setups.
Recommended Currency Pairs
The EA performs well on major pairs due to their liquidity and stable price patterns:
- EUR/USD: High liquidity and clear price action behavior.
- GBP/USD: Volatile movements suitable for price action strategies.
- USD/JPY: Consistent trends, ideal for pattern recognition.
- AUD/USD: Favorable for range-bound and trending markets.
Note: While these are recommended, the EA can adapt to other pairs with proper backtesting.
Strategy: How the EA Takes Trades
The Price Action EA Source Code V1.0 MQ5 follows a systematic approach based on price behavior:
- Step 1: Candlestick Analysis
- Identifies reversal and continuation patterns (e.g., Pin Bars, Engulfing Candles).
- Analyzes candle size, wicks, and closes relative to support/resistance levels.
- Step 2: Support and Resistance Zones
- Automatically detects key support and resistance levels.
- Monitors price interaction with these zones for breakout or reversal opportunities.
- Step 3: Entry Triggers
- Executes trades when price confirms a breakout, rejection, or specific pattern.
- Examples:
- Breakout: When a candlestick closes beyond resistance/support.
- Reversal: Entry on confirmation of a Pin Bar at a resistance level.
- Step 4: Risk Management
- Sets a fixed stop-loss based on Average True Range (ATR) or price levels.
- Take-profit levels are calculated using Risk-to-Reward ratios (e.g., 1:2 or 1:3).
- Step 5: Dynamic Trade Management
- The EA trails the stop-loss based on price movements.
- Break-even adjustments when price moves favorably.
Performance Tips
- Backtest and Optimize: Use historical data to fine-tune settings for your trading conditions.
- Monitor Volatility: Best results are achieved during medium-to-high volatility sessions (e.g., London and New York overlaps).
- Avoid Over-Leveraging: Use conservative lot sizes for long-term success.
This Price Action EA Source Code V1.0 MQ5 is ideal for traders who prefer simplicity and reliability in their trading systems. It’s designed to adapt to market conditions, ensuring a robust trading experience for both beginners and professionals.
Disclaimer: Trading involves risks, and past performance is not indicative of future results. Always conduct thorough research and seek professional advice before trading.📈🍀
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Additional Resources:
Instant Download: https://www.fxcracked.org/product/price-action-ea-source-code-v1-0/
You can also download from other websites:
https://www.forexfactory.cc/product/price-action-ea-source-code-v1-0-2/
https://www.mql5.software/product/price-action-ea-source-code-v1-0-2/
https://www.yoforex.org/product/price-action-ea-source-code-v1-0-2/
https://yoforexea.com/product/price-action-ea-source-code-v1-0-2/
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