Harami EA V2.20 MT4

Introduction

Harami EA V2.20 is a specialized automated trading system designed for MetaTrader 4, focusing exclusively on Japanese candlestick Harami pattern recognition and trading. This Expert Advisor employs advanced algorithmic analysis to identify both standard Harami patterns and Doji Harami formations, which historically signal potential trend reversals. The system automates the complex process of pattern identification, validation, and execution, eliminating the emotional and timing challenges associated with manual candlestick pattern trading.

Key Features

Advanced Pattern Recognition Engine: Sophisticated algorithms that identify authentic Harami and Doji Harami patterns with high accuracy, analyzing candlestick size ratios, body relationships, and market context.

Dual Pattern Detection: Recognizes both standard Harami patterns and more powerful Doji Harami formations, automatically adjusting trade parameters based on pattern strength.

Multi-Timeframe Validation: Confirms pattern signals across different timeframes to ensure alignment with broader market trends and improve signal quality.

Intelligent Context Analysis: Evaluates market conditions surrounding each pattern including trend strength, volatility levels, and support/resistance proximity.

Dynamic Risk Management: Adaptive position sizing and stop-loss calculations based on pattern strength, market volatility, and account balance.

Pattern Strength Assessment: Scoring system that evaluates pattern quality based on multiple criteria, prioritizing highest-probability setups.

Real-Time Monitoring: Continuous market surveillance across all configured currency pairs and timeframes for emerging patterns.

Customizable Parameters: Extensive configuration options for pattern sensitivity, validation criteria, and risk management preferences.

Comprehensive Alert System: Multiple notification methods including popup, email, and mobile alerts for pattern detection and trade execution.

Performance Analytics: Detailed statistics tracking pattern accuracy, trade success rates, and risk-adjusted returns for optimization.

Recommended Settings

Account Requirements:

• Minimum account balance: $500 (recommended $1,000+)
• Any broker type (ECN preferred for better execution)
• Leverage: 1:100 minimum (1:200 optimal)
• Maximum spread: 3.0 pips for major pairs

Conservative Configuration:

• Risk per trade: 1-2% of account balance
• Pattern sensitivity: High (strict validation)
• Maximum concurrent trades: 2-3 positions
• Trading pairs: Major pairs only (EUR/USD, GBP/USD, USD/JPY)
• Multi-timeframe validation: Enabled

Balanced Setup:

• Risk per trade: 2-3% of account balance
• Pattern sensitivity: Medium (balanced approach)
• Maximum concurrent trades: 4-6 positions
• Stop loss: Auto-calculated (30-50 pips typical)
• Take profit: 1.5-2x stop loss ratio

Aggressive Configuration:

• Risk per trade: 3-5% of account balance
• Pattern sensitivity: Low (more patterns detected)
• Maximum concurrent trades: 8-10 positions
• Doji Harami priority: Enhanced position sizing
• Trading timeframes: Multiple (H1, H4, D1)

Backtest Results

Testing Period: 3 years
Currency Pairs: EUR/USD, GBP/USD, USD/JPY, AUD/USD, USD/CHF
Timeframe: H4 (4-hour charts)
Configuration: Balanced settings

Performance Metrics:

• Total Return: 234%
• Annual Return: 28.1%
• Maximum Drawdown: 13.7%
• Win Rate: 67%
• Profit Factor: 2.54
• Sharpe Ratio: 2.18
• Total Trades: 1,456
• Average Trade Duration: 26 hours

Pattern Analysis:

• Standard Harami patterns: 62% win rate
• Doji Harami patterns: 74% win rate
• Pattern detection accuracy: 91%
• False signal rate: 9%
• Average profit per winning trade: +54 pips
• Average loss per losing trade: -32 pips

Risk Metrics:

• Maximum consecutive losses: 6 trades
• Recovery factor: 17.1
• Calmar ratio: 2.05
• Best month: +8.9%
• Worst month: -4.2%

Advantages

Specialized Pattern Expertise: Focused approach to Harami pattern trading provides deep expertise in this specific reversal strategy with high accuracy rates.

Emotional Elimination: Automated execution removes fear, greed, and hesitation that often cause manual pattern traders to miss signals or exit prematurely.

Superior Pattern Recognition: Algorithmic analysis identifies authentic patterns more accurately than human visual recognition, reducing false signals.

Continuous Market Monitoring: 24/7 operation ensures no Harami patterns are missed due to trader unavailability or time zone limitations.

Multi-Timeframe Integration: Validates patterns across different timeframes for higher-quality signals and improved success rates.

Educational Value: Clear pattern marking and detailed analysis help traders learn and improve their own pattern recognition skills.

Consistent Strategy Application: Perfect adherence to trading rules without deviation due to emotions or changing market psychology.

Adaptive Risk Management: Dynamic position sizing and stop-loss placement based on pattern strength and market conditions.

High Win Rate Potential: Focus on reversal patterns often achieves 65-75% win rates due to careful pattern selection and validation.

Time Efficiency: Automates time-intensive pattern identification and monitoring, allowing traders to focus on other activities.

Disadvantages

Limited Strategy Scope: Specialization in only Harami patterns means missed opportunities from other trading strategies during certain market conditions.

Market Condition Dependency: Performance depends on market environments favorable to reversal patterns; may struggle during strong trending periods.

Pattern Frequency Limitations: Trading frequency limited to occurrence of valid Harami patterns, which may be infrequent during some market phases.

Technology Dependence: Requires stable internet, reliable platform operation, and quality data feeds for accurate pattern recognition.

Learning Curve Requirements: Effective use requires understanding of candlestick analysis and system configuration for optimal performance.

False Signal Risk: No pattern recognition system is perfect; some authentic-looking patterns may fail to produce expected reversals.

Capital Efficiency: Longer holding periods typical of reversal trading may reduce capital turnover compared to shorter-term strategies.

Broker Execution Sensitivity: Performance influenced by broker spread stability, execution quality, and slippage during volatile periods.

Market Evolution Risk: Effectiveness may diminish if Harami patterns become widely automated and arbitraged by institutional systems.

Configuration Complexity: Extensive parameter options can be overwhelming for traders without technical analysis experience.

Installation & Setup Guide

System Requirements:

• MetaTrader 4 platform (build 1370+)
• Windows 7/8/10/11 operating system
• Minimum 2GB RAM (4GB recommended)
• Stable internet connection
• VPS hosting recommended for 24/7 operation

Installation Steps:

1. Download Files: Obtain Harami EA V2.20 package including .ex4 file, user manual, and pattern guides.
2. Access Data Folder: In MT4, navigate to File → Open Data Folder to locate installation directory.
3. Install Expert Advisor: Copy .ex4 file to MQL4/Experts folder within MT4 data directory.
4. Restart Platform: Close and restart MetaTrader 4 completely to recognize new Expert Advisor.
5. Enable Auto Trading: Click "Auto Trading" button in MT4 toolbar (should show green when active).
6. Apply to Chart: Drag Harami EA from Navigator panel onto desired currency pair chart (H4 timeframe recommended).
7. Configure Settings: Set up pattern recognition parameters, risk management, and alert preferences in EA properties.

Critical Configuration:

• Set conservative 1-2% risk per trade initially
• Enable pattern strength assessment for quality filtering
• Configure multi-timeframe validation for signal confirmation

• Set appropriate stop-loss calculation method (volatility-based recommended)
• Enable alerts for pattern detection and trade execution

Pattern Recognition Setup:

• Minimum pattern size: 10 pips (adjustable for volatility)
• Inner candle ratio: Maximum 70% of outer candle body
• Pattern validation: Require trend context analysis
• Doji threshold: 10% maximum body size of total candle range
• Confirmation requirements: Enable multi-timeframe checking
Risk Management Configuration:

• Position sizing: Percentage-based (1-5% risk per trade)
• Stop loss method: Volatility-based calculation preferred
• Take profit ratio: 1.5-2x stop loss distance
• Maximum drawdown: Set emergency stop at 20-25%
• Correlation control: Prevent excessive exposure to related pairs

Testing Protocol:

• Backtest on minimum 2 years historical data with quality tick data
• Forward test on demo account for 3-4 weeks minimum
• Monitor pattern detection accuracy and trade execution quality
• Document optimal settings for different market conditions
• Gradually increase risk only after consistent profitable performance.

Support & Disclaimer

Support

If you need help installing or configuring your EA, or face any kind of bug, feel free to reach out on:

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Telegram Group: Join our community

Disclaimer: 

Forex and gold trading involve risk. Past performance doesn't guarantee future results. Always test robots on demo before live trading and use proper risk management.