Engulfing Three Candle EA
- Experts
- Versão: 3.0
- Ativações: 5
💡 Engulfing Three Candle EA
Engulfing Three Candle EA is an automated trading tool designed to capture strong momentum and potential trend reversals by identifying powerful 3-candle engulfing patterns.
By filtering out weak signals and focusing only on high-conviction candle formations, this EA helps traders execute trades based on pure price action dynamics.
🔑 Key Features & Strategy Logic
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Bullish Buy Signal: Executes a BUY order when the current completed candle (Candle 1) is a strong Bullish Candle that fully engulfs the body/range of the previous 3 consecutive candles.
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Bearish Sell Signal: Executes a SELL order when the current completed candle (Candle 1) is a strong Bearish Candle that fully engulfs the body/range of the previous 3 consecutive candles.
🛠️ Customizable Inputs & Parameters
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Take Profit (TP): Define your target profit level in pips/points.
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Stop Loss (SL): Set your maximum acceptable risk per trade.
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Lot Size: Adjust position sizing based on your risk management rules (Fixed Lot).
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Max Open Orders: Limit the total number of simultaneous open trades to protect your account margin.
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Candle Body Ratio : from 0 - 1. 1 Means no wick at all, adjusted to realistic value, example 0.7
⚠️ CRITICAL WARNING & RECOMMENDATIONS
Do NOT Use Default Settings! Market dynamics vary significantly depending on the currency pair, crypto asset, or index you trade. Always perform thorough backtesting and forward testing (on a Demo Account) to find the optimal inputs for your specific asset.
Adjust Stop Loss (SL) & Take Profit (TP) Wisely: A 20-pip SL might work great on EUR/USD on an M15 timeframe, but it will easily get wiped out on GBP/JPY or Gold (XAU/USD), or when trading on higher timeframes like H4/Daily due to higher volatility and average ATR (Average True Range). Always adjust your SL/TP according to the pair's volatility and your chosen timeframe.
