Gartley Butterfly Pattern EA

Gartley Butterfly Pattern EA
Description
The Expert Advisor (EA) automatically trades based on harmonic patterns — popular technical analysis figures first introduced by Harold McKinley Gartley and later systematized and expanded by Scott Carney, the author of patterns such as Bat, Crab, Shark, Deep Crab, and Alternate Bat.
The robot recognizes and works with the following patterns: Gartley, Butterfly, Bat, Crab, Shark, Cypher, Deep Crab, Alternate Bat, AB=CD, Three Drives.
Patterns are formed based on Fibonacci levels, with flexible tolerance settings for deviations.

The EA:

• scans the chart on a specified timeframe (e.g., H1, H4; default is H3),

• opens trades on confirmed patterns with set parameters,

• calculates position sizes using a fixed lot or a risk-based level,

• manages open trades using trailing stop, break-even, limits on the number of orders, and distance between them.

It features visualization of all patterns on the chart, as well as a trading panel displaying statistics and current position info.

To ensure patterns display correctly, use the same timeframe as specified in the EA’s settings menu.

Supported Assets

• Currency pairs: EUR/USD, GBP/USD, USD/JPY, USD/CHF, AUD/USD, NZD/USD, USD/CAD

• Oil: Brent, WTI

• Cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and other popular tokens

• Precious metals: Gold (XAU/USD), Silver (XAG/USD)

The EA is suitable for both classic Forex markets and commodity/digital asset markets.

Usage Recommendations
The EA is optimized for trading the GBP/USD currency pair. Testing was performed on a Roboforex demo account.
To activate, you need to:

• set Stop Loss = 0,

• enable Trailing Stop = true,

• enable Break Even = true.

It is recommended to optimize settings for your broker, as spreads, trading times, and other parameters may vary.

Main Parameters and Features

• General Settings

• Magic Number — unique identifier for the EA’s trades

• Working Timeframe — timeframe for chart analysis and harmonic pattern detection (e.g., H1, H3, H4)

• Max Spread (points) — maximum allowed spread in points; trades won’t open if exceeded

• Pattern Settings

• Lookback Bars — number of recent candles analyzed for pattern detection

• Min Pattern Size (points) — minimum pattern size in points

• Fibonacci Tolerance — allowed deviation when checking Fibonacci levels (e.g., 0.05 = 5%)

• Enable Gartley / Bat / Butterfly / Crab / Shark / Cypher / Deep Crab / Alternate Bat / AB=CD / Three Drives — enable or disable detection and trading for each pattern

• Risk Management

• Lot Calculation Method — position size calculation method: fixed lot or risk-based percentage of balance

• Fixed Lot Size — fixed lot size if using fixed lot method

• Risk % per Trade — percentage of current balance risked per trade (used when calculating lot by risk)

• Max Simultaneous Positions — maximum number of simultaneously open positions

• Stop Loss and Take Profit

• Stop Loss (points) — stop loss size in points (0 disables stop loss)

• Take Profit (points) — take profit size in points

• Trailing Stop

• Use Trailing Stop — enable/disable trailing stop

• Trailing Start (points) — minimum favorable price movement in points before trailing stop activates

• Trailing Distance (points) — trailing stop distance from current price in points

• Trailing Step (points) — minimum price move to adjust trailing stop

• Break Even

• Use Break Even — enable break-even stop loss adjustment

• Break Even Start (points) — profit in points at which stop loss moves to break-even

• Break Even Offset (points) — stop loss offset from entry price when moved to break-even

• Order Filters

• Min Distance Between Orders (points) — minimum points distance between opened orders

• Min Time Between Orders (minutes) — minimum time in minutes between opening trades

• Display and Panel

• Draw Patterns — enable display of detected patterns on the chart

• Show Panel — enable EA control panel on the chart

• Show Trade History — show trade history

• Show Profit Labels — display profit labels on trades

• Show Close Line — show trade close line

• Show Fibonacci — display Fibonacci levels on patterns

• Pattern and Element Colors

• Customize colors for each pattern type and panel elements

• Line Width — thickness of pattern lines on chart

• Font Size — font size for labels and signatures

• Panel Colors

• Panel Background Color — panel background color

• Panel Text Color — panel text color

• Panel Edit Color — color of editable fields

• Panel Profit Color — color for profit text

• Panel Loss Color — color for loss text

Conclusion
Gartley Butterfly Pattern EA is a powerful and flexible tool for automated trading based on harmonic patterns. It suits both intraday and medium-term trading, allowing automated detection of complex technical formations and precise trade management across various markets — from forex to cryptocurrencies and commodities.

Important
Before use, thoroughly test and optimize the EA’s parameters according to your broker’s trading conditions. Remember, trading financial markets carries high risks. Use a demo account and follow sound money management rules.