'EA' for Backtesting Candle Patterns

Hello everyone. After trading manually for sometime I have recently come across the MT4 platform and discovered these things called Expert Advisors.

My aim is simply to use the backtesting part of that platform to test certain types of candle patterns over a number of days, weeks, months etc..

eg. Test all bearish/bullish engulfing or even hammer type candles on a 15m or maybe a 1hr timeframe over the last 6 months and that if I entered on the opening of the next candle and took my profit at the close of said candle, or a set number of pips how many would be winners and loosers etc...

Is this really possible and would such an 'EA' exist?

Does anybody know of such things. I have spent over 2yrs manually wading my way through charts learning the hard way and this seems just incredible to me.

Your help would be greatly appreciated.

Many Thanks.

Technically it's possible, but you'd need to write entry logic for each candle.

Also, when backtesting, one very important thing you need to remember is to keep your modeling quality high. If you see modeling quality below 80% I would question your profitability figures in the EA.

Everything you describe is possible. However, if the concept of an "EA" is new to you, then the learning curve that you would have to go through to learn how to program your own EA and generate your own results would be quite high. Youd be better off learning C and then MQL or hiring a programmer

mt4 is pretty easy and there are plenty of examples to follow. jump right in and start with ea's to open/close orders then move up to adding logic bit by bit. others ea's will be your best guide.

Ok, that's what I wanted to hear. Thankyou all for your comments. It seems I have a lot to learn but as long as the desired result is possible then at least I can start working towards it.

Thanks again and any pointers to get me started would be a help.

Pointers:

 

1. book.mql4.com
2. docs.mql4.com
3. www.metatrader.info/node/34