AI Engulfing Pattern Trader
- Experts
- Version: 1.0
Trades bullish and bearish engulfing candles only where they matter: at recent swing lows and highs.
How it works
A bullish engulfing candle must fully cover the body of the previous bearish candle and have a minimum body size measured in ATR.
The pattern has to form at the lowest low of the last N bars for buys (highest high for sells), and an RSI check on the previous bar avoids buying into strength or selling into weakness.
The stop goes beyond the two candle pattern with an ATR buffer, the target is a multiple of the stop.
Key features
- Strict engulfing body rules on closed bars
- Swing location filter
- RSI confirmation that can be switched off
- Stop beyond the pattern with ATR buffer
- Risk based lot size with a maximum lot cap and free margin check
- ATR based break-even and trailing stop
- One position at a time, no grid, no martingale, no averaging
- Every trade is opened with SL and TP
- Small on-chart status panel
Recommended
Forex majors, crosses and XAUUSD on H1 and H4.
Inputs
Risk percent, lot cap, magic number, swing bars, minimum body size, RSI period and levels, SL buffer, maximum SL, reward ratio, break-even and trailing.
Risk note
Trading involves substantial risk. Test the EA on a demo account first and use a risk level you are comfortable with.
