If you're looking to enhance your trading strategy, the Engulfing EA might just be the tool you need. This Expert Advisor is designed to trade when it identifies an engulfing pattern, equipped with features such as a trailing stop loss and take profit settings, and it works seamlessly across all time frames for major forex pairs and NASDAQ stocks.
Key Features
- Test it on a demo account first to see how it fits your trading style.
- This EA executes trades based solely on the opening price of the candle!
- If you prefer not to increase lot sizes after a loss, simply set IncreaseFactor=0.
Inputs to Optimize
- Use_TP_In_Money: Activate Take Profit in monetary values (true/false).
- TP_In_Money: Set Take Profit in monetary terms (values: 10-100).
- Use_TP_In_percent: Activate Take Profit in percentage (true/false).
- TP_In_Percent: Set Take Profit in percentage (values: 10-100).
- --------------------Money Trailing Stop for Multiple Trades-----------------
- Enable_Trailing: Activate trailing stops in monetary terms (true/false).
- Take Profit In Money: Set between 25-200 in current currency.
- Stop Loss In Money: Set between 1-20 in current currency.
- ------------------------------------------------------------------
- Exit: Close trades if the trend goes against you (true/false).
- Lots: Define lot size (values: 0.01-1).
- Lots size Exponent: Set between 1.01-2.
- IncreaseFactor: Define how much to increase lots when losing (values: 0.001-0.1).
- Stop_Loss: Set stop loss in pips (values: 30-500, set 600 for multiple trades).
- MagicNumber: Assign a magic number (values: 1-100000).
- TakeProfit: Set take profit in pips (values: 50-200, set 600 for multiple trades).
- FastMA: Define fast moving average (values: 1-20).
- SlowMA: Define slow moving average (values: 50-200).
- Mom_Sell: Set momentum sell trigger (values: 0.1-0.9).
- Mom_Buy: Set momentum buy trigger (values: 0.1-0.9).
- --------------------Control Draw Down---------------------
- UseEquityStop: Activate equity stop (true/false).
- TotalEquityRisk: Set risk limit (values: 0.01-20).
- -------------------------------------------------------------------
- Max_Trades: Set maximum trades (1-12).
- -------------------Single Trade Settings-----------------
- TrailingStop: Set a value from 40 to 100 to activate trailing stop loss and take profit; set to "0" to deactivate.
- Enable "Break Even": Activate break-even feature (true/false).
- When move "Break Even": Set the value (5-30).
- How much pips to move to "Break Even": Set the value (5-30).
Remember, it's wise to optimize this EA every few months and use the same inputs mentioned above. You can use it as a hedging grid EA or for single trades.
For those looking to perform a backtest, check out this link.
Comments 0