Candle EA MT4 v1.70 + SetFiles (Platform build 1440+)

Candle EA MT4 – The Ultimate Candlestick Pattern Expert Advisor (EA)

Candle EA MT4 is designed and developed to overcome today’s toughest market challenges. We found Candle EA works best on USDCAD, EURUSD, AUDUSD, GBPUSD currency pairs and on H4, H1, M30 timeframes. Candle EA has proven effective and is used by professional traders.

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Candle EA MT4 Overview

About the Author

This product is compiled by Mansour Babasafary. This Türkiye author has more than 5 years of experience working on MQL5 with many famous products such as Candle EA MT4, Dragon Multi EA MT4 and other products. Among them, Candle EA MT4 is his best performing product.

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Key Features of Candle EA MT4

✔ Pattern-Based Trading: Uses advanced candlestick pattern recognition to detect market trends.

✔ Low-Risk Trading: Implements profit and loss limits to minimize risk.

✔ Multi-Currency Pair Support: Optimized for EURUSD, GBPUSD, AUDUSD, and USDCAD.

✔ Best Time Frames: Works efficiently on M30, H1, and H4 time frames.

✔ No Risky Strategies: Avoids dangerous methods like Martingale and Hedge.

✔ FIFO Compliance: Fully adheres to FIFO trading rules.

✔ Capital Management: Can be used with low capital and various money management strategies.

Benefits of Candle EA MT4

✔ Reliable and Consistent Performance: Uses proven candlestick patterns for accurate market analysis.

✔ User-Friendly Customization: Multiple settings allow traders to tailor their trading strategy.

✔ Low Capital Requirement: Suitable for traders with smaller account sizes.

✔ Compliance with Trading Regulations: Fully adheres to FIFO rules, making it ideal for prop trading firms.

✔ Automated Trading with Minimal Supervision: Allows traders to focus on other activities while the EA handles trade execution.

Candle EA MT4 Review

This Expert Advisor (EA) has been tested on the AUDUSD currency pair using the M30 (30-minute) timeframe from 2010 to 2023. Below is a detailed analysis of its performance based on the available data.
✅ Starting Balance: $10,000
✅ Total profit: $11,500,000
✅ Max Drawdown: 2%
✅ Win Rate: 70% – Percentage of trades closed in profit.

Candle EA MT4

Candle EA MT4 – Trading USDCAD pair on M30 timeframe backtest analysis (2010 – 2023). Key performance metrics:
✅ Starting Balance: $10,000
✅ Total profit: $7,200,000
✅ Max Drawdown: 3%
✅ Win Rate: 69% – Percentage of trades closed in profit.

Candle EA MT4

Candle EA MT4 – Trading GBPUSD pair on M30 timeframe backtest analysis (2010 – 2023). Key performance metrics:
✅ Starting Balance: $10,000
✅ Total profit: $11,250,000
✅ Max Drawdown: 2%
✅ Win Rate: 73% – Percentage of trades closed in profit.

Candle EA MT4

Candle EA MT4 – Trading EURUSD pair on M30 timeframe backtest analysis (2010 – 2023). Key performance metrics:
✅ Starting Balance: $10,000
✅ Total profit: $14,500,000
✅ Max Drawdown: 1%
✅ Win Rate: 75% – Percentage of trades closed in profit.

Candle EA MT4

User Reviews and Feedback

Candle EA demonstrates remarkable potential in delivering stable and reliable profits, making it a reliable tool in the forex market. Candle EA is highly regarded by the MQL5 community in many aspects and has gained the trust of its users.

✔ Jean Philippe Groleau (2024.01.20): “with the new update and the martingale option this ea is profitable for me.”

✔ Gidge (2024.01.18): “I have had a positive experience so far. Candle EA has been helpful. looking forward to further positive results. thanks.”

✔ Bauis (2024.01.17): “after running for 2 weeks, the result is good so far, not long enough to said that it 100% good, but so far is good enough, 3 loose and 7 wins in total 10 trade so far. will update after 1 or 2 months running.”

✔ Ribsun (2024.01.16): “I rate 5 star , because this EA doesn’t use risky strategies such as martingale or grid strategy , also it has very low drawdown and it has good profit , so it has all features that a very good EA should have it.”

Recommended Settings

Recommended settings and parameters to pay attention to from developers and experts:

Product Download Package?

The download package of the product suite includes:

1. Experts:

✔ Candle EA MT4 v1.70.ex4

2. Presets:

✔ Candle_EA_1.7_EURUSD.set
✔ Candle_EA_1.7_GBPUSD.set
✔ Candle_EA_1.7_AUDUSD.set
✔ Candle_EA_1.7_USDCAD.set

✔ Setting Guide: Click here

Conclusion

Candle EA MT4 is a powerful expert advisor designed for traders who rely on candlestick pattern recognition to identify market trends. With built-in risk management features, including profit and loss limits, this EA ensures a low-risk trading experience without employing strategies like martingale or hedging. It is fully compliant with FIFO rules, making it suitable for traders following regulatory guidelines.

Optimized for the EURUSD, GBPUSD, AUDUSD, and USDCAD currency pairs, Candle EA performs best on M30, H1, and H4 time frames. It is adaptable for various trading styles and capital management strategies, making it ideal for both retail traders and Prop firms. Additionally, it can be used with a minimum capital of $100 and a leverage of 1:50, ensuring accessibility for traders at all levels.

>>> Reviewed by David Easton <<<