N Candles v2
This EA identifies and trades based on N consecutive candlestick patterns, entering positions when a specified number of consecutive bullish or bearish candles are detected. It uses a simple count-based reversal or continuation logic depending on configuration, with basic stop loss and take profit management.
Open the interactive view (equity curve, symbol switch)Key facts
Backtest results (H1, about 1 year)
| Symbol | P&L | Annual | Max DD | Trades | Win rate | Sharpe | Recovery | Losing streak | Per trade | Status |
|---|---|---|---|---|---|---|---|---|---|---|
| EURUSD | 0.00% | 0.00% | 0.00% | 0 | — | — | — | — | — | Not convertible yet |
| GBPUSD | 0.00% | 0.00% | 0.00% | 0 | — | — | — | — | — | Not convertible yet |
| USDJPY | 0.00% | 0.00% | 0.00% | 0 | — | — | — | — | — | Not convertible yet |
| XAUUSD | 0.00% | 0.00% | 0.00% | 0 | — | — | — | — | — | Not convertible yet |
Why this EA never traded: no entry rule survived the conversion.
Converted from MQL5 to Python and run with the same rules for every EA. Positions use MT5 lot sizes (100,000 units per FX lot, 100 oz per gold lot) with 1:100 leverage, one order at a time, and a stop-out below 10% of the starting balance. Sharpe is computed from the equity curve. Results marked as unreliable are shown for completeness only.
Blow-up risk: No blow-up pattern found
- Has no stop loss or trailing stop
On its own this is not a typical blow-up pattern, and the account was not stopped out in our backtests. That is not a guarantee: any EA can lose money.
High: stopped out in our backtest, or martingale/grid sizing without a stop loss. Elevated: martingale or grid sizing with a stop loss, or several positions at once without a stop loss. What the label means and what we found →
Strategy analysis
The core strategy detects N consecutive directional candles (bullish or bearish) and triggers a trade signal when the configured count is reached. Entry conditions are based on counting consecutive bullish candles to sell (reversal logic) or buy (continuation logic), and vice versa for bearish candles. Exit conditions rely on fixed stop loss and take profit levels, with no trailing stop or dynamic exit mechanism. Position sizing uses fixed lots without any dynamic adjustment based on account balance, equity, or market volatility. Money management lacks risk controls such as maximum drawdown limits or account equity protection. The overall strategy logic is simple and straightforward, suitable for specific market conditions but lacks adaptability and robustness.
Strengths
- Strategy logic is simple and clear, easy to understand and debug
- Few parameters make it easy for users to configure and optimize
- N consecutive candle patterns have statistically meaningful reversal probability in certain market conditions
- Reversal and continuation modes can be switched to adapt to different market environments
- Clean code structure with high execution efficiency
Weaknesses
- Fixed lot sizing without dynamic position management provides insufficient risk control
- Lack of trailing stop and dynamic exit mechanism may lead to profit giveback
- No new bar check mechanism may cause repeated entries on the same candle
- No spread filter may be disadvantageous in high-spread environments
- Lack of account-level risk protection such as maximum drawdown limits
- Reversal mode of consecutive candle strategy may suffer consecutive losses in trending markets
Possible improvements
- Add dynamic position sizing based on account balance or ATR
- Add new bar check mechanism to prevent repeated entries on the same candle
- Add trailing stop and breakeven functionality to protect existing profits
- Add spread filter and trading session filter to reduce trades under unfavorable conditions
- Add maximum drawdown limit and maximum consecutive loss count limit
Risk assessment
Overall risk: High risk
- No new bar check may cause repeated entries on the same candle leading to overexposure
- Fixed lot sizing without dynamic adjustment may cause significant losses with large positions
- Default stop loss and take profit of 0 creates extremely high risk without protective levels
- Lack of account-level risk protection mechanisms
- Reversal mode may continuously build positions against strong trends
Evaluation scores
Parameters
| Parameter | Default | Description |
|---|---|---|
N_Candles | 3 | Consecutive candle count threshold |
Lots | 0.1 | Fixed trading lot size |
Stop_Loss | 0 | Stop loss in points, 0 to disable |
Take_Profit | 0 | Take profit in points, 0 to disable |
Magic_Number | 12345 | EA magic number for identifying this EA's orders |
Reversal_Mode | true | Reversal mode: true=reversal, false=continuation |
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Backtests are historical simulations and do not guarantee future results. Not financial advice.