Price Action User guide
Everything you need to install, configure and monitor Price Action 10 Setups EA on MetaTrader 5.
1. Installation
- Buy or rent the EA on the MQL5 Market while logged in with your MQL5 account, or open the Market tab in MetaTrader 5 and install it from there.
- The EA appears in the Navigator under Expert Advisors → Market.
- Enable Algo Trading in the toolbar and, under Tools → Options → Expert Advisors, allow algorithmic trading.
2. Quick start
- Open one chart — any symbol and any timeframe.
- Drag the EA onto the chart. The default settings are the H4 portfolio:
XAUUSD:BO|MAG|CH,AUDJPY:WDG, signal timeframe H4, 0.5 % risk per trade. - Check the Experts tab: the EA prints which broker symbol each market was mapped to (for example
XAUUSD -> XAUUSD.a). Markets that do not exist on your account are skipped; if none exists, the EA trades the chart symbol with all setups. - Start on a demo account and let it run for a while before using real money.
3. Portfolio presets
For another portfolio change only Symbols and Signal timeframe; all other inputs stay at their defaults. To run several portfolios at the same time, give each its own Magic base and use about half the risk per trade.
| Portfolio | Signal timeframe | Symbols | Suggested magic base |
|---|---|---|---|
| H4 (default) | H4 | XAUUSD:BO|MAG|CH,AUDJPY:WDG | 26101400 |
| H1 | H1 | USDJPY:MM,EURUSD:FF,GBPUSD:FF,XAUUSD:FF|MTR,USTEC:OR,US30:H2L2,JP225:MTR,AUDUSD:TRR | 26101500 |
| M15 | M15 | US30:OR,JP225:TRR,XAUUSD:TRR,USTEC:OR | 26101600 |
| Gold only | H4 | XAUUSD | 26101700 |
4. Setup codes
Use these codes in Symbols (after a colon, separated by |) and in Telegram: setups that notify.
| Code | Setup | Target |
|---|---|---|
MTR | Major trend reversal | 2R |
FF | Final flag | 2R |
BO | Breakout | Measured move of the range height |
H2L2 | High 2 / Low 2 | 2R |
WDG | Wedge (three pushes) | 2R |
CH | Channel (trend-line) reversal | 2R |
MM | Measured move (leg 2 = leg 1) | Projection of leg 1 |
TRR | Trading-range reversal | 80 % of the range height |
OR | Opening reversal | 2R |
MAG | Magnet / breakout test | 2R |
5. Inputs reference
Portfolio
| Input | Default | Meaning |
|---|---|---|
| Symbols | XAUUSD:BO|MAG|CH,AUDJPY:WDG | Markets to trade, comma-separated, each optionally followed by : and its setups. Empty = chart symbol with all enabled setups. |
| Signal timeframe | H4 | Timeframe of the setups. "Current" uses the chart timeframe. |
| Concurrent trades | One trade per symbol and model | Or one trade per symbol (the first setup that fires wins). |
| Max filled trades per symbol per day | 0 | 0 = no limit. |
| Max positions + orders across all symbols | 0 | 0 = no limit. |
Entry models
One switch per setup (all on). A setup listed in Symbols still needs its switch on.
Context and signal bar
| Input | Default | Meaning |
|---|---|---|
| EMA period / ATR period | 20 / 20 | The trend reference and the unit for all distances. |
| Swing-point depth | 3 | Bars on each side that define a swing high / low. |
| Trend: EMA rise over 10 bars | 0.5 ATR | Minimum EMA slope for with-trend setups. |
| Higher-timeframe trend filter | Off | Trade only with the D1 trend: for all setups, or only for the with-trend setups (BO, H2L2, CH, MM, MAG). |
| Close in top/bottom fraction of the bar | 0.60 | A bull signal bar must close in the top 40 % of its range. |
| Minimum body / maximum range | 25 % / 2.5 ATR | Signal-bar quality filters. |
Orders and exits
| Input | Default | Meaning |
|---|---|---|
| Cancel an untriggered stop order after N bars | 1 | The setup must be confirmed by the next bar(s). |
| Reward:risk target | 2.0 | Target for setups without a structural target. |
| Use measured-move / range targets | true | BO, MM and TRR use their own targets (skipped if under 1R). |
| Stop buffer | 0.05 ATR | Distance beyond the setup extreme. |
| Minimum / maximum stop | 0.3 / 3.0 ATR | Signals with stops outside this range are skipped. |
| Move stop to entry at N × R | 0 (off) | Optional break-even. |
| Close a trade after N bars | 0 (off) | Optional time exit. |
Pattern parameters
Breakout range lookback (20 bars), minimum breakout-bar size (1 ATR), maximum range height (5 ATR); trading-range lookback (40 bars) and target (80 % of the range); session opens for the opening reversal (10:00,16:30 server time) and its window (90 minutes).
Risk
| Input | Default | Meaning |
|---|---|---|
| Position sizing | Risk % of balance | Or fixed money risk, or fixed lots. |
| Risk % of balance per trade | 0.5 | Lot size is calculated from the stop distance. |
| Use the broker minimum lot if it risks ≤ N × the target | 3.0 | For small accounts; 0 = never trade more than the target risk. |
| Max spread | 0.30 × ATR | No new orders while the spread is wider. |
| Minimum stop in spreads | 4 | Skips setups whose stop is too small relative to the spread. |
| Trading hours | 01–23 server time | No new orders outside these hours. |
Misc
Magic base (default 26101400): setup N uses base + N. Stats file: optional CSV of closed trades written to the common Files folder when the EA stops.
6. Telegram alerts
- In Telegram, open @BotFather, send
/newbotand copy the bot token. - Send any message to your new bot, then get your chat id (for example from @userinfobot). For a group or channel, add the bot and use the group / channel id.
- In MetaTrader 5: Tools → Options → Expert Advisors → tick Allow WebRequest for listed URL and add
https://api.telegram.org. - Enter the token and chat id in the EA inputs. A "STARTED" message confirms the connection.
| Input | Default | Meaning |
|---|---|---|
| Label | empty | Text added to every message — useful when several charts send messages. |
| Setups that notify | ALL | Or codes such as BO|MAG|FF. |
| Attach chart screenshot | With signals, fills and closes | Off, or with every event. The EA uses (or opens) a chart of the trade's symbol on the signal timeframe. |
| Events | all on except cancellations | New signal, fill, close (P/L in money and R, reason, holding time), cancelled order, break-even, errors, start/stop, daily summary. |
7. Testing in the Strategy Tester
Use "Every tick based on real ticks" for the most realistic results. Select any symbol in the tester — the EA trades the markets of the Symbols input and the tester downloads their history automatically. Notifications are not sent from the tester, and routine events are not written to the tester journal.
8. Troubleshooting
"has newer unsupported version, please update your client terminal"
Version 1.1 is built for older terminal builds. Update the EA from the Market tab, or update MetaTrader 5 via Help → Check for updates.
"Symbol 'XYZ' not found - skipped"
Your broker does not offer that market under any known name. Remove it from Symbols or replace it with your broker's name for the market.
No trades for a long time
H4 setups are selective — the default portfolio averages roughly two to three trades per week. Check that Algo Trading is on, that the markets are mapped in the Experts log, and that the spread filter is not blocking orders.
Telegram messages do not arrive
Check that https://api.telegram.org is in the WebRequest list, that the token and chat id are correct, and that you have sent at least one message to the bot. Errors are printed in the Experts log.