Price Action Day Trading - MT5 Expert - MetaTrader 5 Expert - MetaTrader 5 Resources

Core transaction logic

The EA analyzes the price action of each new bar and executes trades based on three main settings:

Pin Bar (Rejection): Identify key levels of price rejection with customizable wick to body ratio.

Engulfing Candle (Momentum): Capture a reversal when a large candle completely overcomes the previous price action.

Inside breakout (consolidation): The breakthrough of the trading parent bar signals the continuation or reversal of the trend.

Trend Filter: Double EMA (default 20/50) ensures that the EA only trades in the direction of medium-term momentum.

S/R Context: Integrated support and resistance review allows the EA to validate signals based on historical price levels.

Dynamic risk management: Automatically calculate lot size based on percentage of account balance (default 1.5%).

Safety Protection: Includes a maximum daily loss limit (3%) to protect capital during market volatility.

Trade Evolution: Features automatic break-even triggers and a trailing stop to lock in profits when the trade moves in your favor.

Time Control: Built-in session filters allow you to define specific trading hours and automatically close positions at the end of the day.

Automatic detection of fill mode: Complex order execution logic that automatically detects and adapts to the broker's fill mode (FOK, IOC or Return).

Risk %: The balance of each trade as a percentage of risk.

Stop loss point: Fixed stop loss distance.

Profit Ratio: Target profit relative to stop loss (for example, 2.0 = 2:1 R:R).

PinBar Ratio: Minimum core ratio for pin bar detection.

SR Review: Number of bars used to calculate support and resistance levels.

Fast/Slow MA: The period of the EMA trend filter.

Start/end time: time window for opening new positions.

Schedule: Optimized for M15 , H1 , and H4 .

Symbol: Best for major currency pairs (EUR/USD, GBP/USD) and Gold/USD.

Optimization: It is recommended to optimize StopLossPips and PinBarRatio based on the specific volatility of your chosen instrument.

Attachment download

📎 Daily_Price_Action_EA.mq5 (39.76 KB)

Source: MQL5 #68704