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Engulfer

Quoting wattaman
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...
Hi wattaman,

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
GBP/USD proved to be the Big Loser for current Engulfer settings. 5 trades = 5 losses.
During last 5 days the pair was trading with a range of less than 100 pips, which is a KILLER for Engufer.

Any ideas on how to avoid such situations are welcomed.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1_big_loser.png Size: 59 KB
No guts, no glory
OK, thanks. I'll stay close for the changes
Using the RobotFX EAs for a while https://www.robotfx.org/
9.1% today with fxcm. Great work as usual. GU AU are not performing well but gonna let everything running for few weeks to see how it goes.
Whats get measured get improved
Engulfer erased all returns made during the week. Analysis of robot performance coming next week. Have a nice weekend.
No guts, no glory
my demo has done some swings, but has always been in the black and is overall is up. one thing about this EA is the entries are good, but some profit trades are turning back into a loss - someone mentioned earlier about breakeven settings - i think that would be good for results.

also I am posting a screenshot of a long GU trade tha has it been left to run would have been a killer - any reason why it was such a small TP compared to other typical trades eg the sell on the right on this same pair which just closed out successfully?

Attached Image (click to enlarge)
Click to Enlarge Name: engulfer small GU tp.jpg Size: 495 KB



Quoting abokwaik
Engulfer erased all returns made during the week. Analysis of robot performance coming next week. Have a nice weekend.
Quoting blamshakk
my demo has done some swings, but has always been in the black and is overall is up. one thing about this EA is the entries are good, but some profit trades are turning back into a loss - someone mentioned earlier about breakeven settings - i think that would be good for results. also I am posting a screenshot of a long GU trade tha has it been left to run would have been a killer - any reason why it was such a small TP compared to other typical trades eg the sell on the right on this same pair which just closed out successfully? {image}...
Hi blamshakk,

for a long trade SL is at the low of the previous candle, TP depends on the selected Reward to Risk ratio.
In the trade you referred to : SL was too small, and EA calculated a higher lot size in order to compensate for the selected risk percentage, however setting Max Lots to 1 disabled the selected risk percentage.

So although Reward to Risk ratio was applied, the Reward was too small because the risk was too small.

My idea of adding the Max Lots input is to use after the accounts reaches high return percentage in order to limit the risk.

Break Even and Stop trailing and other options will be considered in next releases.

Best Regards
No guts, no glory
thanks for the clarification

in the meantime i may use a trade manager EA to play with BE, trailing etc as the entries show a lot of potential

Quoting abokwaik
{quote} Hi blamshakk, for a long trade SL is at the low of the previous candle, TP depends on the selected Reward to Risk ratio. In the trade you referred to : SL was too small, and EA calculated a higher lot size in order to compensate for the selected risk percentage, however setting Max Lots to 1 disabled the selected risk percentage. So although Reward to Risk ratio was applied, the Reward was too small because the risk was too small. My idea of adding the Max Lots input is to use after the accounts reaches high return percentage in order to...
Engulfer Version 2

Input Screen

Attached Image (click to enlarge)
Click to Enlarge Name: Enguler_02_Inputs.PNG Size: 46 KB


Sample Test on EU 2015 with above settings
Attached Image (click to enlarge)
Click to Enlarge Name: eng_02_sample_test.PNG Size: 45 KB
Attached File(s)
File Type: ex4 Engulfer_02.ex4   19 KB | 415 downloads
No guts, no glory
I do not have tickhistory but it seems to work on m5 with 3 or 5 engulfing candles.
Someone with tickhistory may test again.
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Attached Image
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
Quoting abokwaik
GBP/USD proved to be the Big Loser for current Engulfer settings. 5 trades = 5 losses. During last 5 days the pair was trading with a range of less than 100 pips, which is a KILLER for Engufer. Any ideas on how to avoid such situations are welcomed. {image}
This looks like the infamous [stuck in a range] problem, from the picture, the horizontal lines you drew clearly show the price consolidating withing that range.

I would suggest, after the EA gets the first loss, it records the daily high & low of the past 24 + current hours.

There are now two choices.

1. No trade taken within this zone [recorded high and low].
2. Only buy signals at price close to low [defined by? ATR maybe?], Sells vice-versa.

P.S: You do immense work with these EA's, great concepts, tests & sharing.
Quoting sinqua
{quote} This looks like the infamous [stuck in a range] problem, from the picture, the horizontal lines you drew clearly show the price consolidating withing that range. I would suggest, after the EA gets the first loss, it records the daily high & low of the past 24 + current hours. There are now two choices. 1. No trade taken within this zone [recorded high and low]. 2. Only buy signals at price close to low [defined by? ATR maybe?], Sells vice-versa. P.S: You do immense work with these EA's, great concepts, tests & sharing.
Thank you sinqua for the suggestion.
No guts, no glory
I have added a new trade explorer for a one-month contest account starting this week using Engulfer_02 on 16 pairs:
GBPUSD, GBPAUD, GBPCAD, EURUSD, EURAUD, EURCAD, EURNZD, USDCAD,
AUDUSD, NZDUSD, USDJPY, GBPJPY. EURJPY, CADJPY, AUDJPY,NZDJPY.

With same settings as in post 129, except for min_stop and max_stop which I set in terms of ATR(200) for each pair
where min_stop=2xatr(200) and max_stop 3xatr(200).
No guts, no glory
Quoting abokwaik
Engulfer Version 2 Input Screen {image} Sample Test on EU 2015 with above settings {image} {file}
Hi Khalil,

Thanks for the second version with an enrichment of new features.
Would you please let me know how I can set the EA such that,
1) trailing stop functionality is disabled;
2) move stop loss to break even will be done only if the price went half of the way towards the take profit level.

Best,
Math
Trading is the hardest way to make easy money...
  • Post #135
  • Quote
  • Edited 12:33pm Oct 25, 2015 11:06am | Edited 12:33pm
Hi Khalil,

thanks for starting this thread, as I like approaches without indicators.

One suggestion for your to-do-list: in addition to starting / ending hour, you should try to exclude specific hours from trading within this channel.
My observation is, that some pairs show false breakouts on certain hours (e.g. the hour before NY open). I've made good experiences with this limitation on my current H1 Breakout EA project.

Cheers, Oliver
osfx.V13 (2022) All Time Return: 573.2%
Quoting MathTrader7
{quote} Hi Khalil, Thanks for the second version with an enrichment of new features. Would you please let me know how I can set the EA such that, 1) trailing stop functionality is disabled; 2) move stop loss to break even will be done only if the price went half of the way towards the take profit level. Best, Math
Hi MT7,

You can disable trailing stop by setting it to 0 (zero).
Same goes for Min Stop, Max Stop and Break Even Stop.

To set Break Even at Half of Profit Target, simply set it at half of your Reward to Risk ratio.
Example : If your Reward to Risk is 2, set BE to 1. If your Reward to Risk is 3, set BE to 1.5. and so on.

Nice to have you on board
No guts, no glory
Quoting osfx
Hi Khalil, thanks for starting this thread, as I like approaches with out indicators. One suggestion for your to-do-list: in addition to starting / ending hour, you should try to exclude specific hours from trading within this channel. My observation is, that some pairs show false breakouts on certain hours (e.g. the hour before NY open). I've made good experiences with this limitation on my current H1 Breakout EA project. Cheers, Oliver
Good insight Oliver , thanks for sharing,
I can see you're doing v.good with your H1 Breakout EA.

All the best
No guts, no glory
osfx is there a way to obtain the H1 Breakout EA? thanks

Quoting osfx
Hi Khalil, thanks for starting this thread, as I like approaches without indicators. One suggestion for your to-do-list: in addition to starting / ending hour, you should try to exclude specific hours from trading within this channel. My observation is, that some pairs show false breakouts on certain hours (e.g. the hour before NY open). I've made good experiences with this limitation on my current H1 Breakout EA project. Cheers, Oliver
Engulfer_02 bug discovered

Lot Size is not recalculated when Min Stop or Max Stop are set to a non-zero value, and they were used in case regular stop is less than Min Stop or Greater than Max Stop.

I am gonna fix this and update asap.

sorry for any inconvenience ...
No guts, no glory
Engulfer_02 : Update version

With Lot Size calculation fixed when custom stop loss is used.
Attached File(s)
File Type: ex4 Engulfer_02.ex4   19 KB | 548 downloads
No guts, no glory
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