Engulfing Candle Strategy EA
- Only market orders are used
- All orders are protected by stop-loss
- No averaging, no grid and no martingale
- Trading is NFA-FIFO Compliant
Expert Advisor Settings
*** Order Settings ***
MagicOrderNumber – Number to identify the EA Trades.
Lots – Lot size when MoneyManagement is set to false.
SlippagePips – Number of slippage pips allowed when placing a trade.
MoneyManagement – Enables fraction risk of account balance and profit lock.
MoneyManagementRisk – Fraction of account balance to risk per trade.
AllowNewTrades – Allows new trades.
AccountProfitLock – Fraction of account to lock profit and stop trading in the event of an excessive draw down.
*** Entry Settings ***
TimeFrame – Select the time frame that the EA uses to trade.
MaxSpread – Maximum spread in pips that the EA will trade.
MATrendPeriod – Period for trend EMA
StartTradingHour – Limit trading hours of the day, zero to disable.
StopTradingHour- Limit trading hours of the day, zero to disable.
TakeProfit – Take profit in pips, zero to disable.
RoomToLeft – Number of bars to left to requiring space to validate the engulfing candle
*** Exit Settings ***
StopLoss – The stop loss in pips.
ExitOnGoodCandle – Exits in profit on close of candle
TrendExit – Uses MACD to exit trades when a reversal of trend is detected
TrendExitMACDFastPeriod – MACD fast period
TrendExitMACDSlowPeriod – MACD slow period
TrendExitMACDSMAPeriod – MACD SMA period
TrendExitSignalPeriod – Trend signal smoothing
BreakEven – Perform break even.
BreakEvenPips – Number of pips to set stop loss in profit.
BreakEvenTriggerPips – Number of pips of profit before break even is performed.
BreakEvenTimeDelaySeconds – Number of seconds to delay break even.
TrailingStopLoss – Perform trailing stop loss.
TrailingStopLossPercentage – Percentage from original stop loss to move.
TrailingStopLossPipIncrements – Increments in pips of trailing stop loss to reduce number of order modifications.