Price Action EA Source Code V1.0 MQ5

Below is a concise breakdown of the key parameters and trading approach for the Price Action EA Source Code V1.0 MQ5. This Expert Advisor is designed to harness pure price action signals, offering a systematic and transparent way to automate your trading.

Key Factors	Description
Minimum Deposit	$100 – $500 (Recommended for standard accounts; can be lower with micro or cent accounts)
Time Frame to Run	M15 or H1 and H4 (Optimal for capturing solid price action signals without excessive noise)
Currency Pairs	EUR/USD, GBP/USD, USD/JPY, and AUD/USD and other major pairs (more liquidity, tighter spreads, lower slippage)

How the EA Executes Trades

• Candlestick Patterns
  The EA scans for reliable candlestick formations—like pin bars, engulfing candles, or inside bars—on the selected time frame. Once identified, it waits for confirmation signals before placing a trade.
• Support & Resistance Zones
  A critical part of the EA’s logic involves detecting key market levels. Trades are only taken when the price shows strong confluence near these zones, reducing false entries.
• Breakout Validation
  The EA continuously checks for breakouts beyond established highs or lows. It uses volume and volatility filters to distinguish between real breakouts and fakeouts.
• Stop Loss & Take Profit Placement
  – Stop Loss: Placed just beyond recent swing highs or lows to preserve capital and improve risk management.
  – Take Profit: Uses a dynamic approach based on trailing stops or set risk-to-reward ratios, locking in profits when favorable moves occur.
• Risk Management & Position Sizing
  – Lot Size: Automatically calculated based on account equity and risk percentage per trade.
  – Drawdown Control: Built-in trailing equity feature can close all positions if a predefined drawdown threshold is met.
• Trend-Following Confirmation
  Prior to entering a trade, the EA checks overall market direction, ensuring that new positions align with the prevailing trend whenever possible.

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Why Use Price Action EA Source Code V1.0 MQ5?

• Full Transparency:
  You have complete access to the underlying MQL5 source code, allowing you to customize and optimize the EA to suit your unique trading style.
• Reduced Noise & False Signals:
  By relying on pure price action rather than indicators, the EA aims to spot more accurate market swings and directional biases.
• High Adaptability:
  Whether trading single or multiple currency pairs, the EA’s parameters can be fine-tuned to varying market conditions, account sizes, and risk profiles.
• Hands-Free Trading:
  Automate entries, exits, and position management—saving time and removing emotional bias from your trading routine.

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Get started with Price Action EA Source Code V1.0 MQ5 on a demo account to see how it performs under different market conditions. Once satisfied, deploy it on a live account with a recommended minimum deposit of $300–$500, focusing on major currency pairs and a suitable time frame (H1 or H4) for optimal outcomes.