Morning and Evening Star Pro

A Reversal Strategy Based on Candlestick Patterns with Intelligent Money Management

Strategy Description

The "Morning & Evening Star Pro" Expert Advisor automatically detects strong reversal signals on the chart using the classic candlestick patterns "Morning Star" (bullish reversal) and "Evening Star" (bearish reversal).

Key Advantages:
✅ High Accuracy – Filtering via RSI and trend (SMA 200)
✅ Risk Management – Automatic lot sizing based on risk percentage
✅ Market Adaptability – Works on any asset (Forex, stocks, indices)
✅ False Signal Protection – Strict entry conditions
✅ Tester Support – Optimized for backtesting
✅ Proven Strategy – Default settings optimized for EURUSD on H4 timeframe, tested on historical data from 2020–2024

Input Parameters

1. Trading Settings

• RiskPercent  (2.0) – Risk percentage per trade (recommended: 0.5–2%)

• UseMoneyManagement  (true) – Enable automatic lot calculation

• FixedLotSize  (0.1) – Fixed lot size (if money management is disabled)

• StopLoss  (800) – Stop loss in points

• TakeProfit  (100) – Take profit in points

• MagicNumber  (12345) – Unique EA identifier

2. RSI Filter

• UseRSIFilter  (true) – Enable RSI filtering

• RSIPeriod  (14) – RSI indicator period

• RSIOverbought  (60) – Overbought level for sell signals

• RSIOversold  (40) – Oversold level for buy signals

3. Trend Filter (Moving Average)

• UseTrendFilter  (true) – Consider price position relative to SMA

• MAPeriod  (200) – Moving average period

• MAMethod  (MODE_EMA) – Calculation method (SMA/EMA)

How the EA Works

1️⃣ Identifies Patterns:

• "Morning Star" – After a downtrend

• "Evening Star" – After an uptrend

2️⃣ Filters Signals:

• Checks RSI (overbought/oversold conditions)

• Compares price to 200 SMA (trend filter)

3️⃣ Calculates Lot Size:

• Formula:  Lot = (Balance × Risk%) / (Stop Loss × Point Value)

• Or uses a fixed lot size

4️⃣ Opens a Trade with specified Stop Loss and Take Profit.

Usage Recommendations

• Timeframes: H4, D1 (most stable signals)

• Instruments: Any (requires optimization)

• Deposit: From $100 (with 1% risk per trade)