Price Action Day Trader EA

Core Trading Logic

The EA analyzes price action on every new bar and executes trades based on three primary setups:

  • Pin Bar (Rejection): Identifies price rejection at key levels with customizable wick-to-body ratios.

  • Engulfing Candles (Momentum): Captures reversals when a large candle completely overcomes the previous price action.

  • Inside Bar Breakouts (Consolidation): Trades the breakout of a mother bar, signaling the continuation or reversal of a trend.

  • Trend Filter: A dual EMA (default 20/50) ensures the EA only enters trades in the direction of the medium-term momentum.

  • S/R Context: Integrated Support and Resistance lookback allows the EA to validate signals based on historical price levels.

Key Features

  • Dynamic Risk Management: Automatically calculates lot sizes based on a percentage of account balance (default 1.5%).

  • Safety Protections: Includes a Max Daily Loss limit (3%) to protect capital during volatile market days.

  • Trade Evolution: Features an automatic Break-Even trigger and a Trailing Stop to lock in profits as the trade moves in your favor.

  • Time Control: Built-in session filter allows you to define specific trading hours and automatically close positions at the end of the day.

  • Auto-Detection Filling Mode: Sophisticated order execution logic that automatically detects and adapts to your broker's filling mode (FOK, IOC, or Return).

Input Parameters

  • RiskPercent: Percentage of balance to risk per trade.

  • StopLossPips: Fixed stop loss distance.

  • TakeProfitRatio: Target profit relative to the stop loss (e.g., 2.0 = 2:1 R:R).

  • PinBarRatio: Minimum wick-to-body ratio for pin bar detection.

  • SRLookback: Number of bars used to calculate Support and Resistance levels.

  • Fast/Slow MA: Periods for the EMA trend filter.

  • Start/End Hour: Time window for opening new positions.

Recommendations

  • Timeframes: Optimized for M15, H1, and H4.

  • Symbols: Works best on major pairs (EURUSD, GBPUSD) and XAUUSD.

  • Optimization: It is recommended to optimize the StopLossPips and PinBarRatio based on the specific volatility of your chosen instrument.