If you like trading clear momentum shifts rather than guessing bottoms and tops, Black Crow EA v1.0 for MT5 will feel refreshingly sane. It blends candlestick pattern detection (notably the classic Three Black Crows / Three White Soldiers) with trend bias, ATR-aware risk, and structure confirmation—so entries only trigger when price is proving the point. No grids, no martingale, no “hope & hold.” Just rules, confluence, and disciplined lifecycle management.
Below is your practical, trader-first guide: what the EA does, how it thinks, recommended settings, MT5 install steps, testing notes, risk playbook, FAQs, and quick-use metadata for your blog/CMS.
What Is Black Crow EA v1.0 (MT5)?
Black Crow EA v1.0 is an MT5 Expert Advisor that hunts for early trend continuation and momentum transitions using a pattern-first approach:
- Patterns: Detects Three Black Crows (bearish) and Three White Soldiers (bullish), plus configurable impulse sequences (body/wick constraints).
- Trend alignment: Trades only with the higher-timeframe bias if you enable MTF.
- Volatility guard: Uses ATR to size stops rationally—and to skip crazy conditions.
- Structure confirmation: Requires a break–retest or decisive close beyond a micro-level before it pulls the trigger.
Best pairs/timeframes: EURUSD, GBPUSD, USDJPY; XAUUSD optional. Timeframes M15–H1 (H1 is cleaner; M15 is more active).
Account type: ECN/Raw-spread recommended; VPS strongly advised.
Why the MT5 Version?
- Faster, more realistic backtests (tick-by-tick with variable spread/slippage).
- 64-bit stability for multi-chart, multi-symbol deployment.
- Cleaner symbol specs (lot steps, tick value) for metals/indices.
- Smoother event handling for news/session windows and logging.
How the Strategy Works (Under the Hood)
1) Directional Bias
A dual-MA baseline (medium + slow) with a light momentum read decides if longs or shorts are even allowed. Optional MTF bias forces you to trade with the bigger flow—less fighting the tide.
2) Pattern Detector
Watches for Three Black Crows (three consecutive long-bodied bearish closes near lows) and Three White Soldiers (bullish mirror). You can tune min body factor and max wick thresholds so “meh” candles don’t qualify.
3) Structural Confirmation
No confirmation, no entry. The EA requires either a break–retest continuation or a decisive close past a micro-level in the pattern’s direction.
4) Volatility Gate (ATR)
Stops are sized via 1.5×–2.5× ATR (configurable). If implied SL would be absurdly wide (or unrealistically tiny), the setup is skipped. You aren’t forced into bad math.
5) Risk Lifecycle
Position size = % of equity. The EA can partial-close near +1R and then trail behind ATR/swing so winners don’t give back. On fresh confirmation and within exposure caps, it may lightly add to winners (never average down).
No martingale. No grid. Ever.
Key Features (v1.0)
- Pattern-aware logic: Three Black Crows / Three White Soldiers with tunable strictness
- Trend + momentum gate: Optional MTF alignment for higher-timeframe flow
- ATR-aware SL/TP: Dynamic stops/targets sized to conditions
- Light scale-ins only on confirmation: Adds to winners, never to losers
- Equity guard & daily loss stop: Auto-pause new entries beyond your limits
- Spread/slippage caps: Vetoes entries in hostile execution
- Session/news windows: Focus liquid hours; optionally block red-flag minutes
- Readable logs: See why a trade was taken, skipped, or closed
Recommended Settings (Starter Template)
- Broker: ECN/Raw spread, consistent liquidity
- VPS: Yes (24/5, low latency)
- Leverage: 1:200–1:500 (leverage ≠ edge; risk sizing does the work)
Symbols & Timeframes
- EURUSD / GBPUSD / USDJPY: M15–H1
- XAUUSD (optional): M30–H1 to offset wider spreads/slippage
Pattern Sensitivity
- Min body factor: 0.6–0.7 (body vs. full candle)
- Max upper wick (shorts): 0.25 of candle; Max lower wick (longs): 0.25
- Sequence strictness: Start High; relax slightly if signals are too rare
Risk Controls
- Risk per trade: 0.5%–1.0% (new users: 0.5%)
- Max concurrent positions (all charts): 3–5
- Max scale-ins per symbol: 1–2 (winners only)
- Daily loss stop: 2%–3% (auto-pause for the day)
- Equity guard (floating DD): 5%–8% (pause new entries until recovery)
Execution Filters
- Max spread: realistic caps (e.g., EURUSD ≤ 15–20 points; XAUUSD ≤ 35–60—broker dependent)
- Max slippage: 1–3 points (align to tick size)
- Sessions: Prefer London/NY overlap; avoid rollover
- News block: 10–15 min before/after CPI/NFP/FOMC, etc.
Stops & Targets
- SL: 1.5×–2.5× ATR or just beyond last clean swing
- TP: 1.5R–2.0R baseline; partial at +1R, trail remainder with ATR/swing
Installation & Setup (MT5)
- Copy
Black_Crow_EA_v1_0.ex5toMQL5/Experts/(File → Open Data Folder). - Restart MT5 → confirm under Navigator → Experts.
- Enable Algo Trading on the toolbar.
- Attach the EA to your chart (one symbol per chart).
- Inputs: Load your preset or apply the starter template above.
- Permissions: Allow DLL imports only if using a calendar/news module.
- Forward-test on demo for 1–2 weeks to validate spreads, slippage, fills, and broker quirks.
Backtesting & Optimization (MT5 Edge)
- Use Every tick based on real ticks (if available) for realistic modeling.
- Test with variable spread; fixed spreads make results look too pretty.
- Include event windows (CPI/NFP/Fed) in your review—even if you don’t block them.
- Optimize lightly (pattern strictness, ATR multiplier, min body factor). Then forward-test—over-fit sets usually break next month.
Risk Management Playbook (Pin This)
- Small, constant risk (0.5%–1.0%) > yolo sizing—always.
- Respect circuit breakers: Daily stop + equity guard save the month.
- Costs matter: If spreads/slippage creep, reduce risk or pause.
- Avoid curve-fit fever: “Perfect” params often fail out-of-sample.
- Withdraw periodically (if live) to keep effective risk aligned as equity grows.
FAQs
Does Black Crow EA v1.0 martingale or grid?
No. It may lightly add to winners on fresh confirmation—within exposure caps. It never averages down.
Will it trade every day?
Not guaranteed; skipping weak conditions is part of the edge.
Minimum deposit?
Demo any size. For live, many start around $500–$1,000 with 0.5% risk and a VPS, then scale gradually.
Best timeframe?
H1 is calmer and cost-tolerant. M15 is more active but more spread-sensitive. For Gold, M30/H1 often balances quality vs. cost.
Disclaimer
Trading Forex/CFDs involves risk. Past performance is not indicative of future results. Always forward-test on demo, size conservatively, and never trade funds you can’t afford to lose.
Call to Action
Want a pattern-aware bot that respects structure and risk? Install Black Crow EA v1.0 on MT5, run the starter template on demo, and watch it through multiple sessions. When fills and behavior look steady, go live gradually—tight risk, tight rules, and let the confirmation logic do the heavy lifting.
