Engulfer Pro
- Experts
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Utibe Udoh
I studied Computer Science and have great passion for programming. I develop MQL4 and MQL5 Expert Advisors (Forex Trading Robots) with years of experience. Try my robots and signals. Or, you have a strategy? Let me do the coding! - Versão: 2.0
Overview
Engulfer Pro EA is a professional automated trading system that identifies and trades classic bullish and bearish engulfing candlestick patterns. Built with capital preservation as its core principle, this EA implements multiple layers of risk management while maintaining simplicity and reliability.
How It Works
The EA scans each new candle for engulfing patterns:
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Bullish Engulfing → Opens a BUY position
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Bearish Engulfing → Opens a SELL position
Once a position is open, the EA manages the exit using either fixed take-profit/stop-loss levels or an intelligent trailing stop that locks in profits as the trade moves in your favor.
Key Features
| Feature | Benefit |
|---|---|
| Risk-Based Position Sizing | Automatically calculates lot size based on percentage of account balance |
| Consecutive Loss Protection | Stops trading after user-defined losing streak |
| Daily Drawdown Limit | Halts trading when daily loss threshold is reached |
| Global Drawdown Protection | Emergency stop at maximum allowable drawdown |
| One Position at a Time | Prevents overexposure and pyramiding |
| Time Filter | Trade only during your preferred market hours |
| Spread Filter | Avoids trading during high spread conditions |
| Trailing Stop | Automatically locks in profits as price moves |
Input Parameters
Money Management
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RiskPercent (default 1.5%) - Risk per trade as % of balance
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UseFixedLots (default false) - Switch to fixed lot sizing
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FixedLots (default 0.01) - Fixed lot size when enabled
Trade Filters
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StartHour (default 8) - Hour to begin trading
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EndHour (default 20) - Hour to stop trading
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MaxSpread (default 30) - Maximum allowable spread in points
Exit Strategy
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TakeProfit (default 400) - Take profit in points (0 = disabled)
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StopLoss (default 0) - Fixed stop loss (0 = use candle low/high)
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TrailingStop (default 150) - Trailing stop distance in points
Risk Limits
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MaxDailyTrades (default 2) - Maximum trades per day
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MaxConsecutiveLoss (default 3) - Stop after consecutive losses
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MaxDailyDrawdown (default 5.0%) - Daily loss limit
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GlobalDrawdown (default 15.0%) - Emergency stop limit
Recommended Configuration
Small Accounts ( 100 − 100−500)
RiskPercent: 1.0-1.5% MaxDailyTrades: 2 TrailingStop: 150 TakeProfit: 300
Medium Accounts ( 500 − 500−2000)
RiskPercent: 0.5-1.0% MaxDailyTrades: 2-3 TrailingStop: 200 TakeProfit: 400
Large Accounts ($2000+)
RiskPercent: 0.5% MaxDailyTrades: 3 TrailingStop: 250 TakeProfit: 500
Requirements
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Platform: MetaTrader 4
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Timeframe: H1 (1 Hour) - Recommended
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Currency Pairs: Any (tested on EURUSD, GBPUSD, USDJPY)
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Minimum Deposit: 100 ( c e n t a c c o u n t s ) / 100(centaccounts)/500 (standard)
Risk Warning
Forex trading involves substantial risk of loss. Past performance does not guarantee future results. Always test thoroughly on demo accounts before live trading.
