Simple Candle Trader

Simple Candle Trader

? SimpleCandleTrader MT4 EA

SimpleCandleTrader MT4 EA is an Expert Advisor for the MetaTrader 4 platform that opens trades on each new candle based on the direction of the previous one.

Trading logic:

• If the previous candle was bullish (close > open), the EA opens a Buy order.

• If the previous candle was bearish (close < open), it opens a Sell order.

Each new position automatically closes the previous one, ensuring that only one trade is active at any time.

⚙️ Input Parameters:

• LotSize — fixed lot size

• Slippage — allowed price slippage

• MagicNumber — unique identifier for orders

The EA does not use indicators, grids, martingale, averaging, SL or TP. Its behavior is fully deterministic and based solely on candle direction.

⚠️ Disclaimer

SimpleCandleTrader MT4 EA is provided for educational and demonstration purposes only. It does not constitute investment advice or guarantee any profits. Trading in financial markets involves risk. The user assumes full responsibility for using this software.

? Support and Feedback

If you have any questions, issues, or suggestions for improving the EA, feel free to contact me via private message on MQL5.
Your feedback is always welcome — especially ideas for development and future updates.

t.me/algotradinglab_club