NAS100 Hammer Engulfing

NAS100 Price Action EA is a fully automated Expert Advisor for MetaTrader 5, designed to trade the NAS100 using a structured Price Action strategy combined with trend confirmation and disciplined risk management.

The EA is based on a combination of EMA 200, Hammer and Engulfing candlestick patterns, looking for Price Action setups in the direction of the prevailing trend.

How does it work?

The EA first determines the market direction using the 200-period EMA and its slope.

• Buy setups are considered when price is above the EMA and the EMA is moving upward.
• Sell setups are considered when price is below the EMA and the EMA is moving downward.

Once the trend conditions are met, the EA searches for two specific Price Action patterns:

Hammer and Engulfing.

The patterns are filtered according to configurable candle body, wick, rejection and size conditions before a trade can be opened.

Risk Management

The position size is calculated automatically according to the Stop Loss distance.

You can choose between:

• Percentage Risk — risk a percentage of the account balance.
• Fixed Money Risk — use a fixed monetary risk per trade.

The EA automatically calculates the lot size according to the selected risk model and Stop Loss distance.

Trade Management

The EA includes automatic position management:

• Structural Stop Loss based on the detected Price Action pattern.
• Configurable Stop Loss padding.
• Configurable Take Profit based on Risk/Reward.
• Automatic Break Even.
• Automatic Partial Close.
• Maximum number of trades per day.
• Optional additional trade after a losing day.

This allows the complete trade management process to be automated from entry to exit.

Trading Hours & News Filter

The EA allows you to define a specific trading session and up to two news times.

IMPORTANT: The default/recommended trading hours shown in the settings image are based on FTMO server time (GMT+3).

The trading hours must be adjusted according to your broker's server time.

The same applies to the news filter: news times must be entered according to the time used by your MetaTrader 5 broker/server.

Recommended Settings

The parameters shown in the image below are the recommended settings for this EA.

These parameters have been tested during the development and testing process and are the configuration recommended by the developer.

For the best representation of the tested strategy, it is recommended to start with  settings of images.

Please note that changing the parameters can significantly change the behaviour and performance of the strategy.

Important

This EA is designed for NAS100.

For best results, use the recommended settings and test the EA with your own broker before using it on a live account.

Trading involves risk. Backtest and historical results do not guarantee future performance. Results may vary depending on the broker, spread, commission, slippage, execution conditions, account type and market conditions.

Always test the EA on a Demo account before using real money.