DislikedI 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...Ignored
For the first part regarding pin bars, have a look at Robot Pinocchio from my Robots Lab.
For the second part regrading entry on retrace %. The idea came to me many times, and in this first version I preferred to go with momentum.
So may be I can have this option in next versions.
Another option the some traders will prefer, is to wait for signal candle close, and trade the break out .
No guts, no glory