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Engulfer

thanks man

Quoting abokwaik
{quote} For your case blamshakk, your broker time is equal to mine, so if you want to trade the European session you can set the time from 9 to 19. Due to frequent questions regarding trade time filter, I have added a description on post # 1. This will be the last response regarding the time filter.
Quoting afhacker
Hello; I really appreciate what you have done "abokwaik", I have a trading system called "Significant candle Price Action System" and I'm using it almost for 3 years, I made this system by my self and now I'm profitable with it so when I read this thread I found that your engulfing candle system has a lot of similarity with my Significant candle system so I decide to help you for making this system better, first of all trading based on normal engulfing candle as all of us know is not a profitable system so I recommend you to watch this video from...
Walter doesn't seem to know what an engulfing candle is (I watched 3 minutes)
Using the RobotFX EAs for a while https://www.robotfx.org/
Quoting wattaman
{quote} Walter doesn't seem to know what an engulfing candle is (I watched 3 minutes)
Walter seems to look for a big candle to follow...
Trading is the hardest way to make easy money...
Why this error???
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Quoting bazze
Why this error??? {image}
I am away from office. I will check it tomorrow.
No guts, no glory
I believe there is a problem with the EA. It appears that it took a long trade but not according to the rules.

- Bullish Engulfer (LONG Signal --> Buy):

* The current candle price should exceed the Highs of all (n) previous candles

* The immediate previous candle should be bearish

* The Low of the current candle should be less or equal than the close of all (n) previous candles

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Quoting pip-boss
I believe there is a problem with the EA. It appears that it took a long trade but not according to the rules. - Bullish Engulfer (LONG Signal --> Buy): * The current candle price should exceed the Highs of all (n) previous candles * The immediate previous candle should be bearish * The Low of the current candle should be less or equal than the close of all (n) previous candles {image}
Is this a M1 chart? I guess the price jumped at that long candle...
Trading is the hardest way to make easy money...
Quoting pip-boss
I believe there is a problem with the EA. It appears that it took a long trade but not according to the rules. - Bullish Engulfer (LONG Signal --> Buy): * The current candle price should exceed the Highs of all (n) previous candles * The immediate previous candle should be bearish * The Low of the current candle should be less or equal than the close of all (n) previous candles {image}
Trade is correct and according to the rules.
No guts, no glory
Quoting MathTrader7
{quote} Is this a M1 chart? I guess the price jumped at that long candle...
H1 on all 8 pairs.
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Quoting abokwaik
{quote} Trade is correct and according to the rules.
The previous candle wasn't bearish. Perhaps I am misinterpreting the rule.
In the EA inputs, lot size is set to 0.0, so the risk percent should be used (set at 0.1). I noticed that all positions are 1 lot. Acct size is $10K. Does it need to be exactly 0 or is 0.0 ok to use? Thanks for sharing.
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Quoting pip-boss
{quote} The previous candle wasn't bearish. Perhaps I am misinterpreting the rule.
Sorry I was replying through smartphone, I had to start my laptop in order to explain on the chart.
Let me know if still not clear.

Regards,

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No guts, no glory
Quoting pip-boss
In the EA inputs, lot size is set to 0.0, so the risk percent should be used (set at 0.1). I noticed that all positions are 1 lot. Acct size is $10K. Does it need to be exactly 0 or is 0.0 ok to use? Thanks for sharing. {image} {image}
Your setting says Max Lots 1.0.

The Robot follows your command

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No guts, no glory
Its been a rough day for Engulfer.
This is what I was waiting for.
No guts, no glory
Quoting abokwaik
{quote} Sorry I was replying through smartphone, I had to start my laptop in order to explain on the chart. Let me know if still not clear. Regards, {image}
Hi Khalil, I think it may be reasonable to prevent the EA from opening more than one trade per candle. What do you think?
Trading is the hardest way to make easy money...
Quoting MathTrader7
{quote} Hi Khalil, I think it may be reasonable to prevent the EA from opening more than one trade per candle. What do you think?
Yes Math, its already already implemented. In this case the previius trade was opened few candles prior to this candle. I can add a condition though to not open a new trade on the same candle the previous trade closed on.
No guts, no glory
Quoting abokwaik
{quote} Yes Math, its already already implemented. In this case the previius trade was opened few candles prior to this candle. I can add a condition though to not open a new trade on the same candle the previous trade closed on.
Thanks for your explanation! :-)
And I think this additional condition is necessary to be implemented into the EA.
Trading is the hardest way to make easy money...
I know that you started this with the idea of trading engulfing bars only, but maybe you will consider adding pin bars, too, as they are also strong signals. I think engulfing bars and the pin bars are the strongest price action signals, from my knowledge. Combine them and maybe we'll have a good candlestick signals EA.
What do you think?
And an idea maybe to hard to implement: is it possible to modify the EA so it will open new trades when price retraces a little, let's say 50%, 25% (etc) of the signal candle?
For example, if candle is BE, don't just sell at the close of that candle. Wait for the price to go higher to 50% of the candle's high (the signal candle) and then trigger a sell.
Using the RobotFX EAs for a while https://www.robotfx.org/
Quoting abokwaik
{quote} Your setting says Max Lots 1.0. The Robot follows your command {image}
Yes, but lot size was set to 0.0 so it should have used the risk percent (.1%) and not the max lot size of 1 as far as I can tell.
Attached Image
Quoting pip-boss
{quote} Yes, but lot size was set to 0.0 so it should have used the risk percent (.1%) and not the max lot size of 1 as far as I can tell. {image}

Good Morning pip-boss,

Risk Percentage in your settings is 0.1 = 10% not 1%.
So the position size calculated by the EA was more than 1 lot, and since you limited the Max Lots to 1, it used 1 instead of the calculated lot size.

I hope its clear now.

Notes :

1- I think you were trailing the stop (MT4 trailing), because your stops are much less that 10%.
2- Using 1 for "Number of Engulfed Bars" will certainly give you more signals, but also more false ones
3- As per your results, although its very risky, you're doing good

Have a nice day
No guts, no glory
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