Engulfing EA Strategy | Foreign Exchange EA Download - MT4/MT5 Resources
Hello traders,
Since last year I have only used the Engulfing pattern in my trading with good results. But it is difficult to follow each 1 hour candle or 30 minute trajectory, so I choose to use EA to do better.
I'm not a programmer, but while searching online I found an EA that does exactly the same thing as what I do manually.
I have tested it with some of my favorite currencies and the EA takes my trades in real time so it works really well. I was wondering if programmers could add money management functionality to the EA, with the option to risk 3% or 10% per SL, regardless of the number of pips in the SL, if the SL is 50 pips or 10 pips, the EA would always risk 3% or 10%.
Alternatively, you can modify the EA as you like if you can improve this strategy.
annexation strategy
Time range: 30m, H1, H4
Best currencies: EUR/USD, GBP/USD, EUR/JPY You can try another one.
When you see an engulfing bullish/bearish candle pattern (the big candle needs to cover all the last candles, including the wick or shadow), you will place a pending buy/sell order at the maximum/minimum level of the engulfing candle. Stop loss is placed at the low/high of the engulfing candle. TP depends on currency or time frame.
Example:
The smaller the spread of the EA (tested in XM micro account), the higher the profit. XM's spreads are very high, so if your spreads are better than mine, the EA will work better.
Euro yen 30m
GBP/USD H1
Euro USD 30 million
Note: You can try my settings in mt4 tester, but due to differences in spreads or charts of each broker, you will need to adjust the settings according to your account to get better results
Since last year I have only used the Engulfing pattern in my trading with good results. But it is difficult to follow each 1 hour candle or 30 minute trajectory, so I choose to use EA to do better.
I'm not a programmer, but while searching online I found an EA that does exactly the same thing as what I do manually.
I have tested it with some of my favorite currencies and the EA takes my trades in real time so it works really well. I was wondering if programmers could add money management functionality to the EA, with the option to risk 3% or 10% per SL, regardless of the number of pips in the SL, if the SL is 50 pips or 10 pips, the EA would always risk 3% or 10%.
Alternatively, you can modify the EA as you like if you can improve this strategy.
annexation strategy
Time range: 30m, H1, H4
Best currencies: EUR/USD, GBP/USD, EUR/JPY You can try another one.
When you see an engulfing bullish/bearish candle pattern (the big candle needs to cover all the last candles, including the wick or shadow), you will place a pending buy/sell order at the maximum/minimum level of the engulfing candle. Stop loss is placed at the low/high of the engulfing candle. TP depends on currency or time frame.
Example:
The smaller the spread of the EA (tested in XM micro account), the higher the profit. XM's spreads are very high, so if your spreads are better than mine, the EA will work better.
Euro yen 30m
GBP/USD H1
Euro USD 30 million
Note: You can try my settings in mt4 tester, but due to differences in spreads or charts of each broker, you will need to adjust the settings according to your account to get better results
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