Free MT4 Price Action EA 

The MetaTrader 4 (MT4) Expert Advisor is an automated trading system based on price action that places several trades within a single candle when the market conditions are right. The traditional EAs are waiting for the candle closes to confirm and are relying a lot on the indicators that lag, while this EA reacts to the price movements, wick rejection, and momentum that happen in that active candle in real time. The approach's goal is to grab short-term market opportunities that last just a few seconds, especially during high volatility periods.

The MT4 price data is updated with each new tick, and the EA is monitoring those ticks continuously instead of waiting for a candle to close. When the EA detects strong price action behavior like a repeated refusal at a key level, dominance of buying or selling pressure, or rapid momentum shifts, it will be able to open more than one trade during one candle. Setting the conditions which are defined in advance, each trade is allowed to be placed ensuring controlled execution and no random over-trading.

Price action is an extremely crucial element in this EA’s strategy. It does so by looking through the structure of the candle such as the size of the body, the lengths of the upper and lower wicks, and the total range. During strong rejection, for instance, the EA might detect lower-wick rejections indicating buyer strength happening over and over again. The EA will subsequently have the capability of executing several buy orders at different prices, provided that the price keeps behaving in the same way during that respective candle. On the other hand, during selling, upper-wick rejections along with downward momentum can result in multiple sell orders being placed in one candle. Candle color alone is not used as a deciding factor; rather, market behavior and price rejection are given priority.
Risk management is a critical factor of this expert advisor (EA). It has the capacity to open many trades in short intervals, but the control over the size of trades, trade limits and optional stop-loss and take-profit rules are integrated into the EA's logic. This way, the traders can keep their risk at a relatively low level while enjoying the benefits of the high-frequency nature of the market. The EA can be used in scalping, fast-moving markets, and on brokers that allow the use of EAs and opening multiple positions.

The installation of the EA is user-friendly even for beginners. Upon downloading the EA file, you should copy it to the "Experts" folder in your MT4 directory. After that, either restart MetaTrader 4 or refresh the Navigator panel. As soon as the EA appears in the Experts area, you have the liberty to apply it to any chart and timeframe of your choice. Make sure you switch on the automated trading and verify whether the EA settings permit the DLL import and live trading options.The traders have the flexibility to set the input parameters like trade frequency, lot size, and risk controls to match their trading style.

SourceCodeShop.com the platform that provides trading tools, website source codes, and automation scripts, gives away this MT4 EA free of cost. Thus, the EA can be used by traders and developers for education, testing, modification, or even live trading without any expense. By automatically taking real price movements instead of indicators, the EA brings a transparent and educational method of trading by automation for both novice and experienced users.

Note: Test the EA on demo account first if it give you good results then apply on real account