Pipsgrowth EX16096 Trend

Pipsgrowth EX16096 Trend is a MetaTrader 5 Expert Advisor that trades the two-day reversal patterns known as Dark Cloud Cover and Piercing Line. It does not look for breakouts, grid layering, or trend-following across dozens of indicators. The whole strategy reduces to: spot a two-bar reversal at the open of a new M5 or H1 candle, ask the MFI oscillator whether the reversal is supported by a volume-flow extreme, and then place a fixed-distance stop and target. If neither the target nor the stop hits within ten bars, the EA closes the position by force.

The pattern detection sits in the CheckPattern() function and inspects the previous two fully-closed candles. For Dark Cloud Cover — a bearish reversal — the function requires a tall white candle two bars ago (body larger than the 12-bar average), a black candle on bar 1 whose close ends inside the white candle's body, an opening on bar 1 that gaps above the previous high (a new high in the uptrend), and a MidOpenClose(2) value that sits above the close of bar 2's moving-average line, confirming the prior trend was up. The Piercing Line mirror follows the same skeleton: a tall black bar two bars ago, a tall white bar one bar ago whose close penetrates the prior body but does not exceed the prior open, an opening that gaps beneath the previous low (a new low in the downtrend), and a MidOpenClose(2) that sits below the trend MA, confirming the prior trend was down. Bar 0 is ignored — the EA only acts on closed bars so the signal cannot repaint.

The MFI (Money Flow Index) is the only confirmation filter. MFI is a volume-weighted RSI, and the EA uses it at a 37-period lookback with VOLUME_TICK as the volume source, which means the calculation runs on every tick rather than on real exchange volume — a sensible default on MT5 because real volume is unavailable for most retail FX and gold feeds. The thresholds are deliberately gentle: a buy only fires when MFI(1) sits below 40, a sell only fires when MFI(1) sits above 60. That is roughly one-fifth of the way out of the overbought/oversold zones, so most reversals still pass — the MFI gate exists to filter out the patterns that occur in the middle of an already-impulsive move where a volume extreme is unlikely.

A close-on-signal routine (CheckCloseSignal()) handles exits triggered by oscillator state. If MFI(1) drops below 70 while MFI(2) was above 70, or if MFI(1) drops below 30 while MFI(2) was above 30, the EA closes any open long. The mirror handles shorts: MFI(1) crossing above 30 from below, or crossing above 70 from below, closes shorts. These are not overbought/oversold triggers in the classical sense; they are designed to close as soon as the volume flow returns to neutral, capturing a partial mean-reversion after the reversal. A second exit path runs through CloseByTime() and forces a flat position once the holding time exceeds InpDuration = 10 bars on the working timeframe.

Risk management is the simplest part of the EA. The PositionOpen() function takes a market order at the next available price with a fixed lot of 0.1 — there is no risk-percentage calculation, no equity curve scaler, no Kelly-style sizing. Stop loss sits InpSL = 200 points behind the entry, take profit sits InpTP = 200 points in front of it. That delivers an exact 1:1 reward-to-risk ratio on every trade, which is unusual for a candlestick-pattern EA. Most candlestick traders run asymmetrical targets, so the symmetric 1:1 here is a deliberate design choice — it tells the EA to take small, frequent wins and let the stop cap the loss.

A spread-guard safety in the same PositionOpen() function prevents the EA from placing the protective stop or the target inside the spread. If the current spread is wider than 200 points, the EA replaces the SL or TP distance with the spread itself. On a 5-digit XAUUSD broker, that means the protective distance is at minimum equal to the spread — the stop will not be placed above the entry on a buy, and the target will not be placed below the entry on a sell. This guard fires with a PrintFormat log entry so you can see when the spread is forcing the layout.

The EA reads everything at the open of a new bar and then acts on a single tick per phase. The OnTick() function is split into four phases: Phase 1 calls CheckState() on the new bar and updates the global signal flags; Phase 2 fires PositionOpen() if a buy or sell signal is set and no position in that direction exists; Phase 3 calls CloseBySignal() if a close signal is set; Phase 4 calls CloseByTime() for any position that has crossed the 10-bar holding threshold. The bar-gate is implemented with a static next_bar_open variable so all the work happens once per candle, not on every tick.

The codebase is small. There are 22 functions — CheckState, PositionOpen, CloseBySignal, CloseByTime, PositionExist, PositionExpiredByTimeExist, BarsHold, Open, Close, Low, High, MidPoint, MidOpenClose, AvgBody, CheckPattern, CheckConfirmation, CheckCloseSignal, MFI, CloseAvg, plus three retry helpers. Two indicator handles are created in OnInit(): an iMFI(_Symbol, _Period, 37, VOLUME_TICK) handle and an iMA(_Symbol, _Period, 5, 0, MODE_SMA, PRICE_CLOSE) handle. Three retry helpers are defined — TryClose_EX16096, TryClosePartial_EX16096, and TryModify_EX16096 — with three retries on requote, timeout, price-off, and price-changed responses and a 200-millisecond sleep between attempts. Only TryClose_EX16096 is wired into the live close paths; the other two are present in the source as scaffolding for future use.

What this EA does not do is just as informative. There is no news filter, no session filter, no daily loss limit, no equity kill switch, no maximum drawdown hard cap, no partial close, no breakeven, no trailing stop, no scaling into winners. The exit decision rests entirely on the MFI cross or the time expiry. If you run it on a quiet weekend candle or a wide-spread market-open candle, the spread guard will keep the stop outside the spread but the signal itself will still fire. Position sizing is fixed at 0.1 lot regardless of account size, so the percentage risk per trade scales with your balance. At a $100 minimum deposit, that is effectively 1% risk per pip-clump of stop distance on XAUUSD M5; on a $10,000 account, the same 0.1 lot becomes a much smaller percentage. Pick the lot with the account in mind.

Magic 22216096 is stamped on every order. Trade comment Psgrowth.com Expert_16096 lets the EA coexist with other instances on the same symbol. The 4-phase OnTick structure means there are no surprises on the execution side — when a pattern fires, the EA tries to open exactly one position in that direction. If the open fails, no second attempt is made inside the same bar; the EA waits for the next bar's CheckState() to re-evaluate. For a backtest, expect a steady stream of 1:1 trades on the M5 timeframe, a sparser set on H1, and a long tail of bars that exit by time rather than by target or stop.