Two absorption expert
This trend-following medium-term Expert Advisor is based on search for the "engulfing" chart pattern. If this pattern is found, the EA waits for a confirmation of entry by the second "engulfing: pattern. That is, a correct market entry requires 2 (two) "engulfing" chart patterns.
To improve the entries and to eliminate false signals, the EA features a system of filters, which works based on on the Moving Average technical indicator.
Tactics to buy
A "bearish engulfing" pattern has been formed in the market. The the EA waits for a second "bearish engulfing" pattern to form in a row. Please note, the Low of the signal candle of the SECOND "engulfing" must be higher than the Low of the signal candle of the first "engulfing". After that, there is a check for the end of the trend using two moving averages. If all conditions are met, the EA opens a buy deal.
All conditions are reverse for sell deals, but using the "bullish engulfing" pattern.
------"EXPERT money management"
- Take Profit - the Take Profit level in points.
- Stop Loss - the Stop Loss level in points.
- Lot - position volume, lot
- Percent of deposit - if lot is set to zero, then a dynamic lot based on a deposit percentage is used.
- The closing of all transactions when the specified profit. In percentages - close all deals once the specified profit as a percentage of the deposit is reached.
------"EXPERT no loss"
- Use NO loss - use transferring to breakeven.
- Level of profit - profit level in points at which to transfer to breakeven.
- Level of loss - drawdown level in points at which to transfer to breakeven.
- Level breakeven - the number of points from the order Open to transfer to breakeven.
- Use Stop Loss on High/Low - set Stop Loss beyond the High/Low of the candle, where the order was opened.
- Distance Stop Loss - distance from the High/Low in points to set Stop Loss (the number of points away from High/Low to set Stop Loss).
- Exit when the reverse signal - exit a profitable position when a reverse signal appears.
- By default, the EA opens market orders with a minimum lot of 0.01. Does not set Stop Loss beyond High/Low of the candle based on the received signal.
- Use the H1-H4 timeframes and a Take Profit level of 300.0 points.
- Supports symbols with 4 and 5 decimal places.
- Does not use Stop Loss, but if an order has a drawdown greater than 200.0 points, the EA transfers them to breakeven.
- Once a profit of 200.0 points is reached, the EA transfers the order to breakeven and waits for the Take Profit to trigger, which is equal to 300.0 points by default.
- It features a function of closing all profitable orders when a reverse signal appears.
- To reduce the drawdown on the trading account, it is recommended to use the minimum working lot.