Engulfing Scalping EA
- Experts
- Version: 1.1
- Activations: 5
Engulfing Scalping EA is a fully automated Expert Advisor designed for traders who appreciate the reliability of Price Action combined with a robust recovery mechanism.
This EA operates based on the classic Engulfing Candle Pattern, one of the most powerful reversal and continuation signals in technical analysis. It does not rely on lagging indicators; instead, it reads raw market sentiment directly from the charts.
How It Works
The logic is divided into two intelligent phases:
1. Continuous Entry (Trend Following) When the market is clear of orders, the EA scans the recent history (adjustable via Scan Bars ) to identify the dominant trend based on the latest Engulfing pattern. It enters the market immediately in the direction of the momentum, ensuring you never miss a move.
2. Smart Recovery & Grid System If the market moves against the initial position, the EA activates a Smart Grid/Martingale recovery strategy:
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Averaging: It opens additional orders at fixed distances with a lot multiplier to lower the average entry price.
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Basket Take Profit: All orders (Buy or Sell) are grouped together. The EA calculates a "Break-Even + Profit" point and closes the entire basket at once when the net profit target is reached.
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Trend Reversal Protection: Unlike dangerous grid systems that hold trades forever, this EA watches for Opposite Engulfing Signals. If a strong reversal pattern is detected, it can close the losing basket and switch the direction immediately to follow the new trend.
Key Features
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Pure Price Action: No lagging indicators (RSI, MACD, etc.).
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Smart Money Management: Uses an "Average Take Profit" function to close positions faster.
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Market Validation: Built-in checks for Min/Max Lot, Lot Step, and Margin requirements to prevent errors (Error 131/134).
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Flexible Direction: Choose to trade Both sides, Buy Only, or Sell Only.
Parameters
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InpBaseLot: Starting lot size for the first order.
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InpMultiplier: Lot multiplier for recovery orders (Martingale coefficient).
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InpTP_Pips: Target profit in pips (Calculated as an average for the whole basket).
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InpGridDist: Distance (in points) between recovery orders.
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InpScanBars: Number of past candles to scan for the trend signal.
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InpDirection: Filter to trade Only Buy, Only Sell, or Both.
Recommendations
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Symbol: Recommended for major pairs with good volatility (EURUSD, GBPUSD, GBPJPY).
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Timeframe: Works best on H1 (to filter market noise) or M15 (for aggressive scalping).
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Account Type: ECN or Low Spread account is recommended.
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Balance: Due to the Martingale strategy, ensure you have sufficient capital or start with a Cent Account for testing.
Risk Warning
This EA uses a Martingale strategy. While it allows for quick recovery of drawdowns, it carries a higher risk than fixed-lot strategies. Please backtest with Every tick mode and use proper risk management.
