3 Candle Breakout EA Indicator: A Streak Then a Break

Written by Dominic Walsh · Published 22 Jul 2026 · Last updated 26 Aug 2026

The 3 candle breakout ea indicator is an Expert Advisor, not a chart tool. It opens and manages real trades. The rule is simple price action. Wait for three candles in the same direction. Then enter when the next closed bar breaks past the extreme of that streak. Every position carries a stop loss, and the stop is not optional.

This build ships as a compiled .ex4 for MT4 and .ex5 for MT5; the screenshots below come from EURUSD H1.

Platforms	MT4 (.ex4) + MT5 (.ex5)
Chart window	n/a
Plots	0
Alerts	none
Inputs	18

What the 3 Candle Breakout Ea Indicator draws on the chart

Nothing. This build declares no indicator buffers and draws no lines, arrows or zones.

It runs in the Experts folder rather than Indicators, and its work shows up as orders in the Terminal.

Position sizing, stop, target and trailing behaviour are all set through inputs rather than shown on the chart.

How the 3 Candle Breakout Ea Indicator calculates its values

Finding the streak

The code walks back through `StreakCount` candles reading o from Open[k] and c from Close[k]. allBull stays true only while every one of them closed above its open, and allBear only while every one closed below. Alongside that walk it tracks streakHigh and streakLow across the same bars, so it knows the range the streak covered.

Waiting for the break

closeBar takes Close[1], the most recently closed bar rather than the one still forming. longSig requires allBull and closeBar above streakHigh. shortSig requires allBear and closeBar below streakLow. Reading a settled bar is what stops the EA acting on a break that unwinds before the candle finishes.

Sizing and protecting the trade

With `MoneyMgmt` on RISK_PERCENT the code computes riskMoney as AccountEquity() times `RiskPercent` over 100. It then divides by the value per lot. Rounding follows the broker’s lot step, using lotDigits from MathLog. Stops respect the broker too: d takes MathMax of MODE_STOPLEVEL and MODE_FREEZELEVEL. The EA never submits a stop closer than the server allows. slDist and tpDist come from `StopLossPips` and `TakeProfitPips`, normalised to the symbol digits.

Managing the position

The optional trail waits until profit passes startDist from `TrailStartPips`, then keeps the stop stepDist behind price using `TrailStepPips`. On a long it computes profit as Bid minus OrderOpenPrice() and a newSL of Bid minus stepDist. `CloseOnOppositeSignal` shuts a position when the opposite breakout fires, so the EA does not hold a long through a confirmed downside break.

How to read the signals

There is no chart output to read. Judge it from the Terminal, the account history and the Strategy Tester.

The entry only ever fires on a closed bar, so nothing happens mid-candle.

One position at a time by default, and only trades carrying its own magic number belong to it.

A wide spread blocks the entry outright rather than filling at a worse price.

This build has no alert inputs at all. It carries no popup, push, email or sound option, because it acts on the signal itself rather than telling you about it. What it does have instead is trade management: a mandatory stop, an optional trail and a spread ceiling.

Every 3 Candle Breakout Ea Indicator input

Core settings: Signal inputs

Setting	What it does	Default
s_sig	(see inputs panel)	===== Signal (3-candle streak + breakout) =====
StreakCount	Consecutive same-direction candles required. Consecutive same-direction candles required before a break counts, default `3`. Raising it makes entries rarer and the preceding move longer.	3

Core settings: Money management inputs

Setting	What it does	Default
s_mm	(see inputs panel)	===== Money management =====
MoneyMgmt	Position sizing mode. Sizing mode, default `FIXED_LOT`. Switch to RISK_PERCENT to size from equity instead.	FIXED_LOT
Lots	Fixed lot size. Fixed size when the mode is FIXED_LOT, default `0.01`.	0.01
RiskPercent	Risk percent per trade (RISK_PERCENT mode). Share of equity risked per trade in RISK_PERCENT mode, default `1.0`.	1.0

Core settings: Trade management inputs

Setting	What it does	Default
s_tm	(see inputs panel)	===== Trade management =====
StopLossPips	Stop loss (pips) – mandatory. Mandatory stop distance, default `50` pips. The EA will not place a trade without one.	50
TakeProfitPips	Take profit (pips). Target distance, default `100` pips, giving a 2:1 target against the default stop.	100
UseTrailingStop	Enable trailing stop. Off by default; `TrailStartPips` at `50` and `TrailStepPips` at `25` control it when on.	off
TrailStartPips	Trailing: start after this profit (pips).	50
TrailStepPips	Trailing: distance behind price (pips).	25
CloseOnOppositeSignal	Close position on opposite breakout.	on

Core settings: Execution / safety inputs

Setting	What it does	Default
s_ex	(see inputs panel)	===== Execution & safety =====
MagicNumber	Magic number (this EA only). Isolates this EA’s trades at `20260752`, so it never touches orders placed by you or another robot.	20260752
MaxOpenTrades	Max open positions for this EA. Positions this EA may hold at once, default `1`.	1
MaxSpreadPoints	Skip entries above this spread (points). Entries are skipped above this spread, default `40` points.	40
Slippage	Max slippage (points).	30

Settings that fit your chart

A three-candle streak means something different on every timeframe. The entry rate follows the chart you attach it to. EURUSD on H1 is the reference. On M5 streaks form constantly and the spread filter does much of the work. On H4 and daily setups turn rare, and the 50 pip stop may sit too close for the range. Re-test that first if you move up. Always run it on a demo account first.

When the 3 Candle Breakout Ea Indicator fails

Breakout entries suffer in ranges. Three candles one way followed by a break is exactly what a choppy market produces before reversing.

The stop and target are fixed pip distances rather than volatility scaled, so one setting does not fit both a calm session and a news hour.

The spread filter checks the moment of entry only. A spread that widens after the fill still costs you, and the EA has no view on that.

Copy the compiled 3 Candle Breakout Ea Indicator file into your MQL4/Indicators folder, and the MT5 build into MQL5/Indicators, then restart the terminal and drag it onto a chart. The step-by-step guide with screenshots is at how to install MT4 and MT5 indicators.

Related on forexmt4systems.com: London Session Breakout Strategy.

Download the 3 Candle Breakout Ea Indicator for MT4 and MT5

The zip holds the compiled 3 Candle Breakout Ea Indicator build for MT4 and MT5, plus a short README. Compiled files only, no source. Enter your email below and the download link arrives in your inbox.

FAQ

Is the 3 candle breakout ea indicator an indicator or an EA?

An EA, despite the slug. It opens and manages real positions through OrderSend and declares no drawing buffers. Install it in the Experts folder, not Indicators, and enable AutoTrading before it can act. Test it on a demo account first, because it trades your balance rather than annotating a chart.

What does StreakCount at 3 require before an entry?

Three consecutive candles closing the same way, checked through allBull or allBear. The code also records streakHigh and streakLow across those bars. Only when the next CLOSED bar finishes beyond that extreme does a signal fire. Raising the count demands a longer run and produces noticeably fewer trades.

Can I run it without a StopLossPips value?

No, and that is deliberate. The stop is mandatory in this build and the source header says so. Every position gets slDist applied at entry, clamped to respect the broker’s own MODE_STOPLEVEL and MODE_FREEZELEVEL. An EA that can open a position it cannot close is not a safe design.

What does MagicNumber isolate?

Every order this EA places is tagged `20260752`. All of its management routines filter on that tag, so it will not modify or close a position you opened by hand or one belonging to another robot on the same account. Change it if you run two copies on different charts.

Are results guaranteed?

No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the 3 Candle Breakout Ea Indicator as one input. Always backtest before trading live.