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EngulfingTrade MT4

The strategy of the Expert Advisor is based on one of the strongest signals of technical analysis - Engulfing .

When determining this figure, a trading expert studies the current market situation and, if there is a combination of certain factors, starts working.

It is recommended to start working with a small trading lot. As you become familiar with the work of an expert, the trading lot can be increased (use money management) to a psychologically acceptable size.

Attention: the format of the trading time settings (by terminal time) is "hour: minutes" - Separator is a semicolon. For example: "08:15", "14:30".

Every trade is protected by a stop loss. The Martingale system is NOT used. Lot increase after a loss is NOT used.

The default settings are suitable for the following trading instruments (5m): EURUSD, GBPUSD, USDJPY, EURGBP, USDCAD, EURJPY.

The procedure for installing a trading expert:

  1. Open 5 charts of recommended trading instruments;
  2. Switch timeframes on all charts to 5 minute timeframe;
  3. Install an Expert Advisor on each chart and allow it to trade;
  4. Check if Auto Trading is allowed in your terminal.
  5. We recommend using a remote server (VPS) with low ping.

Settings

  • Minimum candle size - The minimum size of the Absorbing candle;
  • Candle 'Engulfing' timeframe - Engulfing and Engulfing candles timeframe;
  • Percentage of candle body on size - the Absorbent candle must be at least greater than the Absorbed by this percentage;
  • How many candles is the signal alive? - How many candles the signal is alive;
  • Pin bar arrow size (if 0 - do not show) - The size of the arrow pointing to the Absorbing Candle (if 0 - not shown);
  • This LOT: - This lot;
  • For each of this amount (if> 0) - For each of this amount of bananas (if 0, it will be "This LOT");
  • MaxLot - Maximum trading lot;
  • Take Profit - Take profit;
  • Stop Loss - Stop Loss;
  • Trailing Stop - Trailing stop;
  • Trailing step - Trailing stop step;
  • Start of trading (if 0 - not used) - Trading start time (if 0 - not used);
  • End of trade - Trade end time;
  • Comment to order - Comments to the EA orders;
  • Slippage - Slippage;
  • Max Spread - Maximum spread;
  • Magic Number - Magic number to distinguish "their" orders;
  • Show logo? - Displaying the logo on the chart;
  • Show info-text? - Displaying information on the chart;
  • Text size - Font size;
  • Text color - Font color.
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The Expert Advisor looks for technical analysis patterns formed on the higher (hourly) timeframe to start working on the 5-minute chart. Technical analysis patterns used: double top/double bottom, head/shoulders, flag, expanding/narrowing triangles. The Relative Vigor Index technical indicator is used as the filter for opening deals. It is based on the idea that on the bull market the closing price is, as a rule, higher, than the opening price. It is the other way round on the bear market. This
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The Expert Advisor calculates the divergence on the current and higher timeframes. In case the divergences coincide, the EA starts its operation. Deals have strict take profit and stop loss levels. Each deal is managed by trailing stop. The strategy involves the use of a tight stop-loss. Therefore, losing deals and/or series of losing deals are not uncommon. This EA is not suitable for those who have difficulties coping with losing deals. The EA is recommended for simultaneous use on the followi
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The Expert Advisor has been developed specifically for the features of the CHFJPY currency pair. The EA's algorithm determines the direction of the current trend and starts operation. In case of a price reversal within the current trend, the EA adds additional orders. If trend changes, the EA starts to work in the direction contrary to the initial grid of orders. If there were no conditions for closing orders and the trend direction changed again, the EA continues to work with the "first" grid o
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The Expert Advisor algorithm determines on daily charts those candlestick patterns, which set the intraday trading direction. The trading EA determines how long the price is moving in overbought/oversold zones and starts working in the direction of the expected trend movement. Each position is accompanied with a tight stop loss and take profit. Only one active position can be open in the market. The EA was developed and tested using 99% quality quotes. The Expert Advisor has a built-in news filt
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This Expert Advisor works using a grid in the direction of a trend movement with the step between opened positions defined in the settings. The positions are closed by the total take profit. The Parabolic SAR standard indicator is used to filter order opening, which comes in the MetaTrader 4 package. The EA has been developed and tested using 99,9% quality of quotes. Operation of the EA in real time can be viewed in the signals . The best trading results have been achieved on CHFJPY M15. Setti
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