This MetaTrader 5 expert advisor is designed for scalping gold on the M1 timeframe. It features a versatile strategy engine capable of toggling between breakout and mean-reversion modes based on market conditions. The system manages trades using ATR-based trailing stops, break-even adjustments, and time-based exits. Ri
Trading robot ยท MT5
Candle Pattern Breakout Reversal
This MetaTrader 5 expert advisor implements a candlestick pattern breakout and mean-reversion strategy.
GitHub stars2
Forks1
Last update3 months ago7 Jun 2026
LicenceNone stated
Overview
Candle Pattern Breakout Reversal identifies specific sequences of three candles to determine market entry points. The robot places pending buy stop, sell stop, and buy limit orders at fixed distances from previous price extremes to target liquidity zones. Risk is managed through fixed lot sizes and mandatory stop loss levels, with take profits calculated using a reward-to-risk ratio. Originally designed for the daily timeframe, the code is structured modularly for optimization across various currency pairs and indices.
- Three-candle pattern recognition engine
- Automated liquidity distance calculations
- Reward-to-risk ratio based profit targets
- Time-specified pending order expiration
- Modular object-oriented code structure
Details
Author
handiko on GitHub
Type
Trading robot
Platform
MetaTrader 5 (MQL5)
Strategy
Breakout, Mean reversion
Markets
Forex, Indices
Timeframes
H4 and above
Risk profile
No grid, martingale or hedging logic was found in its code or README. That says nothing about how it performs: backtest it first.
Topics
mql5mql5-strategytrading-strategies
Input parameters
Read from Candle Pattern - USDJPY.mq5. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
InpExpirationHours | int | 60 | Expiration Hours |
InpLot | double | 1.0 | Lot (fixed) |
InpPendingDist1 | int | 200 | Liquidity Distance (points) |
InpPattern1 | ENUM_CANDLE_PATTERN | UDD | Candle Pattern |
InpRewardToRisk1 | double | 1.4 | Reward to Risk Ratio |
InpStopLoss1 | int | 850 | StopLoss (points) |
InpPendingDist2 | int | 250 | Liquidity Distance (points) |
InpPattern2 | ENUM_CANDLE_PATTERN | UDD | Candle Pattern |
InpRewardToRisk2 | double | 0.8 | Reward to Risk Ratio |
InpStopLoss2 | int | 450 | StopLoss (points) |
InpPendingDist3 | int | 500 | Liquidity Distance (points) |
InpPattern3 | ENUM_CANDLE_PATTERN | UDD | Candle Pattern |
Show all 14 inputs
| Name | Type | Default | Description |
|---|---|---|---|
InpRewardToRisk3 | double | 0.8 | Reward to Risk Ratio |
InpStopLoss3 | int | 850 | StopLoss (points) |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone handiko/Improvement-to-an-existing-strategy from GitHub, and unzip it.
- 2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL5/Experts.
- 3Copy the filesCopy the .mq5 file into Experts, and any .mqh files into the Include folder the code expects.
- 4Compile in MetaEditorOpen the file in MetaEditor and press Compile. Fix any missing includes the compiler reports.
- 5Test before you tradeRun it in the Strategy Tester, then attach it to a demo chart and allow algorithmic trading.
Third-party code. ForexR did not write, test or endorse this EA, and the summary above was generated automatically from its README and code. ForexR lists only repositories with readable source code and never hosts files. Read the code, backtest it and use a demo account first; automated trading can lose money quickly.
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