Expert Advisor ENGULFING
This trend following Expert Advisor trades based on signals from a built-in ENGULFING indicator https://www.mql5.com/en/market/product/15802.
The trend is determined either by extremums or by MA. When a new pattern is detected, the EA places pending orders at the distance of The distance from the max/min to the pending order with set Stop loss distance pips, Factor to take profit parameters and fixed lot or a percentage of the free margin. The lifetime of pending orders in candles can be adjusted. The EA has a built-in Martingale, if the grid is unprofitable it increases the size of the next order by the coefficient-- disabled by default.
The EA can trade any pairs, metals and assets. Showed good results on timeframes H1, H4 and D1.
Attention: due to limitations of some brokers, in order to avoid order opening failures, it is recommended to set the stop loss and take profit parameters to at least 3 spreads of the working instrument.
- Number of bars for the calculation history - number of bars in history for calculation
- Frame Color Buy - Buy frame color
- Frame Color Sell - Sell frame color
- Display frame patterns - Display pattern frames
- Magic - Magic number for trades
- Working TF expert - Working timeframe of the EA
- Closing on the opposite signal - Close by the opposite signal
- Slip - Slippage
- Use Martingale ON/OFF - Use Martingale
- Lot multiplier Martingale - Multiplier for martingale
- Pattern ENGULFING works - Enable Engulfing pattern
- The candle must close - Candle must close
- The number of candles to determine the trend - The number of candles to determine the trend
- A method of determining the trend - The method for determining the trend
- TF MA - timeframe of the MA
- Period MA - period of the МА
- Shift MA - Shift of the MA
- MA Method - Averaging method of the MA
- MA Price - MA price calculation
- Fixed lot - fixed lot size
- RiskPerOrder % - risk percentage per order
- Stop loss distance pips - Distance from High/Low to place the stop loss (in points)
- The distance from the max/min to the pending order - Distance from High/Low to place the pending order (in points)
- Factor to take profit - Multiplier for take profit
- Number of bars the existence of a pending order, If=0 then until the next signal - The number of bars for pending order lifetime, if 0 - the order exists until the next signal or until it triggers