Chart Pattern Helper: Free MT4/MT5 EA Download & Source Code

Overview

Users draw trendlines, horizontal lines, or channels, which the expert advisor monitors to place pending breakout orders. It handles trade entries, stop losses, and take profits according to specific object naming conventions. Risk management features include percentage-based position sizing, spread compensation, and one-cancels-other logic. The EA does not identify patterns automatically and requires manual setup for each trade setup, focusing purely on execution and management.

Automated breakout trading from manual drawings

Supports trendlines and equidistant channels

Dynamic position sizing and risk management

One-cancels-other order synchronization

Spread adjustment for entry and exit levels

Details

Author

EarnForex on GitHub

Markets

Any symbol

Timeframes

Any timeframe

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.

EA Files

Topics

chart-patternexpert-advisorforexforex-robotmetatradermetatrader-4metatrader-5mql4mql5mt4mt5trading-ordertrading-robot

Source

github.com/EarnForex/Chart-Pattern-Helper

Input Parameters

Read from ChartPatternHelper.mq5. Defaults are the author's; change them in the EA's Inputs tab.

Name	Type	Default	Description
`UpperBorderLine`	`string`	`UpperBorder`
`UpperEntryLine`	`string`	`UpperEntry`
`UpperTPLine`	`string`	`UpperTP`
`LowerBorderLine`	`string`	`LowerBorder`
`LowerEntryLine`	`string`	`LowerEntry`
`LowerTPLine`	`string`	`LowerTP`
`BorderChannel`	`string`	`Border`
`EntryChannel`	`string`	`Entry`
`TPChannel`	`string`	`TP`
`OneCancelsOther`	`bool`	`true`	OneCancelsOther: Remove opposite orders once position is open?
`UseSpreadAdjustment`	`bool`	`false`	UseSpreadAdjustment: Add spread to Buy entry and Sell SL/TP?
`UseExpiration`	`bool`	`true`	UseExpiration: Use expiration on pending orders?

Show all 31 inputs

Name	Type	Default	Description
`DisableBuyOrders`	`bool`	`false`	DisableBuyOrders: Disable new and ignore existing buy trades?
`DisableSellOrders`	`bool`	`false`	DisableSellOrders: Disable new and ignore existing sell trades?
`PostEntrySLAdjustment`	`bool`	`false`	PostEntrySLAdjustment: Adjust SL after entry?
`UseDistantSL`	`bool`	`false`	UseDistantSL: If true, set SL to pattern's farthest point.
`OpenOnCloseAboveBelowTrendline`	`bool`	`false`	Open trade on close above/below trendline.
`SLLine`	`string`	`SL`	Stop-loss line name for trendline trading.
`ThresholdSpreads`	`int`	`10`	Threshold Spreads: number of spreads for minimum distance.
`CalculatePositionSize`	`bool`	`true`	CalculatePositionSize: Use money management module?
`UpdatePendingVolume`	`bool`	`true`	UpdatePendingVolume: If true, recalculate pending order volume.
`FixedPositionSize`	`double`	`0.01`	FixedPositionSize: Used if CalculatePositionSize = false.
`Risk`	`double`	`1`	Risk: Risk tolerance in percentage points.
`MoneyRisk`	`double`	`0`	MoneyRisk: Risk tolerance in base currency.
`UseMoneyInsteadOfPercentage`	`bool`	`false`
`UseEquityInsteadOfBalance`	`bool`	`false`
`FixedBalance`	`double`	`0`	FixedBalance: If > 0, trade size calc. uses it as balance.
`Magic`	`int`	`20200530`
`Slippage`	`int`	`30`	Slippage: Maximum slippage in broker's pips.
`Silent`	`bool`	`false`	Silent: If true, does not display any output via chart comment.
`ErrorLogging`	`bool`	`true`	ErrorLogging: If true, errors will be logged to file.

How to Install It

1Download the sourceUse "Download source (.zip)" above, or clone EarnForex/Chart-Pattern-Helper from GitHub, and unzip it.

2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL4/Experts or MQL5/Experts.

3Copy the filesCopy the .mq4 / .mq5 file into Experts.

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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Chart Pattern Helper