Engulf Striker
- Experts
- Version: 1.0
- Activations: 5
Price-action EA: trades bullish / bearish engulfing candles that form at the trend EMA during a pullback in an established trend.
Engulf Striker is a fully automated Expert Advisor for MetaTrader 5 - engulfing candles at the trend EMA. Engulfing candles where they matter - at the trend line. It is designed for XAUUSD (gold) and also runs on forex majors such as EURUSD and GBPUSD.
How it trades
- Trend - fast EMA (default 50) above the slow EMA (default 200) for buys, below for sells.
- Location - the pattern must touch the fast EMA zone (within a set ATR distance), so only pullbacks are traded, not random candles.
- Engulfing - the last closed candle's body fully engulfs the previous opposite-colour body and is at least a set fraction of ATR.
- Stop-loss beyond the two-candle pattern plus an ATR buffer; take-profit at an R-multiple (default 2R).
- Break-even at 1R (0 = off).
Risk management (built in)
- Every trade is opened with a stop-loss. There is no martingale, no grid and no averaging down.
- Position size from risk % of equity (default 1%) or a fixed lot; lots are normalised to the broker's min / max / step and reduced if free margin is not enough.
- Daily loss limit: no new trades for the rest of the day once equity is down the set % from the day-start equity.
- Max spread filter, optional trading-hours filter, and no orders while the market is closed or trading on the symbol is disabled.
- Stop-loss / take-profit are always placed outside the broker's stops and freeze levels.
- Works on hedging and netting accounts (on netting accounts it opens only when the symbol has no other position).
- One position at a time per magic number; signals are evaluated once per closed bar (no repainting).
Inputs
| Input | Default |
|---|---|
| Signal timeframe | H1 |
| Fast EMA (pullback line) | 50 |
| Slow EMA (trend) | 200 |
| Pattern must reach within this distance of the fast EMA (x ATR) | 0.5 |
| Minimum engulfing body (x ATR) | 0.5 |
| ATR period | 14 |
| Stop buffer beyond the pattern (x ATR) | 0.2 |
| Minimum stop distance (x ATR) | 0.6 |
| Take-profit (R multiple, 0 = none) | 2.0 |
| Move stop to break-even at this R (0 = off) | 1.0 |
| Risk per trade (% of equity), used when Fixed lot = 0 | 1.0 |
| Fixed lot (0 = size from risk %) | 0.0 |
| Maximum lot per trade (0 = broker maximum) | 10.0 |
| Daily loss limit (% of day-start equity, 0 = off) | 3.0 |
| Max spread (points, 2-digit gold scale: 100 = 1.00 USD; 0 = off) | 50 |
| Max slippage (points, same scale) | 30 |
| Trade only inside the hours below | false |
| Trading start hour (server time, 0-23) | 1 |
| Trading end hour (server time, 0-23) | 22 |
| Show status panel on the chart | true |
| Magic number (change it to run several instances on one symbol) | 26102208 |
Recommended
- Symbol / timeframe: XAUUSD on the default timeframe shown above; also forex majors. Test other timeframes in the Strategy Tester first.
- Account: hedging or netting, any deposit that allows the broker's minimum lot with a sensible risk %.
- VPS: recommended for uninterrupted operation.
Important notes
- No trading system can guarantee profit. Past performance, in the tester or live, does not guarantee future results.
- Always test the EA in the MetaTrader 5 Strategy Tester and then on a demo account before using real money, with your broker's own data and spread.
- Hours are in your broker's server time.
- Start with a low risk % and use money you can afford to lose.
