Candlestick Patterns Strategy EA MT4 delivers automated candlestick trading with verified performance

This detailed review of Candlestick Patterns Strategy EA MT4 in 2026 evaluates real-world performance and provides analysis of strategy design, backtest and live account metrics. The EA stands out because it merges classic Japanese candlestick recognition—Bullish and Bearish Engulfing, Pin Bars, Hammers, Dojis, Morning/Evening Stars and Three Soldiers/Crows—with modern technical filters to confirm trend strength. The combination reduces noise and focuses entries on higher-probability setups. Candlestick Patterns Strategy EA MT4 is authored by Biswarup Banerjee and is priced at $30, making it accessible for traders testing automated setups on MT4. The algorithm operates by scanning user-selected timeframes and symbols, applying moving average alignment, ADX threshold checks, RSI momentum confirmation and MACD trend bias prior to sending market or pending orders. Trade execution includes user-configurable stop loss and take profit levels, optional break-even rules and trailing stop mechanisms. The EA prefers trending environments and performs best on major forex pairs with tight spreads and low slippage. In range-bound markets the EA reduces signals via confirmation thresholds to limit drawdown exposure. Risk management is layered: pattern confirmation reduces false entries, filter thresholds limit trades to high-reward contexts, and dynamic position sizing ties risk per trade to account equity. Expected performance characteristics include moderate trade frequency, a realistic win rate in the 60–66% range under tested settings, and drawdown typically managed within a 8–15% window depending on leverage and risk per trade. The review recommends forward testing on MT4 demo accounts and incremental live deployment for traders considering Candlestick Patterns Strategy EA MT4.