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Engulfing EA Strategy

  • #1
  • First Post: Mar 25, 2019 4:13pm Mar 25, 2019 4:13pm
Hello Traders,

Since last year Iīve using ONLY the engulfing pattern in my trading with good results. But is very hard keep the track on each 1H candle or 30min, so I choosed to use an EA for do a better job.

Iīm not a programmer but searching in the web, I found an EA that it does exactly that I do manually.

I already tested in some of my favorites currencies and the EA takes the trades that I take in REAL time so it works very good. I want to know if a programmer can add to the EA a money management, with the option of risk a 3% or 10% for each SL, no matter how much in pips is the SL, if the SL is 50 pips or 10 pips the EA always risk a 3% or 10% please.

Or if you can improve this strategy you are free to modify the EA.


ENGULFING STRATEGY

Timeframe: 30m,H1,H4
BEST Currencies: EURUSD, GBPUSD, EURJPY you can try another one.

When you see an engulfing bullish / bearish candle patter (the big candle need to cover ALL the last candle INCLUDING WICKS OR SHADOWS) you will put a pending Buy / Sell order in the max / min of the engulfing candle. SL in the low / high of the engulfing candle. TP depends on the currency or timeframe.

Example:

Attached Image (click to enlarge)
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EA (Tested in XM micro account) Less spread more profitable. XM have very high spread so if you have a better spread than my account the EA works better.

EURJPY 30m

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GBPUSD H1


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EURUSD 30m

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NOTE: You can try my settings in mt4 tester, but by the difference in each broker spread or chart, you need to adjust the settings according to your account for better results
Attached File(s)
File Type: mq4 engulfing EA.mq4   41 KB | 5,482 downloads
File Type: rar Settings .rar   2 KB | 3,756 downloads
  • #2
  • Mar 25, 2019 5:16pm Mar 25, 2019 5:16pm
Interesting
Le$$ I$ More
  • #4
  • Mar 26, 2019 7:47pm Mar 26, 2019 7:47pm
Here a real time pending order.


Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 46 KB



It have 20 minutos of expiration
  • #5
  • Mar 27, 2019 7:07am Mar 27, 2019 7:07am
Hi, if you make your EA like this, will give good results.
1. Look for either a bearish or bullish engulfing which has a minimum of 2 decent candles closed within its opening and closing price
2. Box up the reference engulfing to include the wicks. Note that candle should be a minimum of 18pips.
3. Wait for a breakout on either sides and set your pending order at the breakout point and your final entry should be 50-61.8% of the engulfing with a take profit as the size of the box for the reference candle and stop loss (2 - 5pips) slightly beneath or above the reference box depending on the type of order set
4. Once your retest comes and you are in the trade, do not pick another engulfing trap setup unless take profit or stop loss of the previous setup has been taken out
5. If it runs straight to your stop-loss and breaks out from the other side of the box without presenting a new setup, kindly wait for the retest and execute
6. If you get a breakout and it runs straight to take profit without giving a retest, kindly get rid of that setup only if another setup presents itself along the way else original setup is still valid
7. Always know when to move stop loss to break-even and close partial profit
8. Warning You don't wanna trade in consolidation, avoid false breakouts and news plus always remember price action is King
  • #6
  • Mar 27, 2019 7:45am Mar 27, 2019 7:45am
Quoting Roszey
Interesting
noob
  • #7
  • Mar 27, 2019 8:35am Mar 27, 2019 8:35am
dont say i never told you that its a scam
Attached File(s)
File Type: ex4 engulfing EA v1.1.ex4   234 KB | 1,610 downloads
  • #8
  • Mar 27, 2019 12:54pm Mar 27, 2019 12:54pm
Quoting fantasfor
Hi, if you make your EA like this, will give good results. 1. Look for either a bearish or bullish engulfing which has a minimum of 2 decent candles closed within its opening and closing price 2. Box up the reference engulfing to include the wicks. Note that candle should be a minimum of 18pips. 3. Wait for a breakout on either sides and set your pending order at the breakout point and your final entry should be 50-61.8% of the engulfing with a take profit as the size of the box for the reference candle and stop loss (2 - 5pips) slightly beneath...

Hello Fantasfor,

This is the idea, every idea to improve the strategy is welcome. Unfortunately i'm not a programmer to test your ideas, but I can do it with out the EA to see the results. Thanks!
  • #9
  • Mar 27, 2019 12:56pm Mar 27, 2019 12:56pm
Quoting dicojoxaftr
dont say i never told you that its a scam {file}

Hello dicojoxaftr,

Thanks for the EA but I test it and doesn't works. I dont' see the settings of the first EA, is very important keep them and add the money management, hope you have the time to do it. Thank you.
  • #10
  • Mar 27, 2019 1:05pm Mar 27, 2019 1:05pm
Hello,

here the results of the pending order in EURJPY

We get a SL

Attached Image (click to enlarge)
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But then another engulfing comes and we get TP

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REAL ACCOUNT
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I know is just cents but is a REAL ACCOUNT of $40 dolars. I Like to test EAīs in real accounts with real money to see REAL RESULTS.

I'm testing in new currencies. When I have the results of the new ones I will share here the settings and new currencies
  • #11
  • Mar 27, 2019 1:12pm Mar 27, 2019 1:12pm
Yesterday the EA put a sell order in EURUSD but the order have a 20 minutes of expiration, even so the Sell order would be positive.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 46 KB
  • #12
  • Mar 27, 2019 2:19pm Mar 27, 2019 2:19pm
Quoting Invermac
{quote} Hello dicojoxaftr, Thanks for the EA but I test it and doesn't works. I dont' see the settings of the first EA, is very important keep them and add the money management, hope you have the time to do it. Thank you.
hi
okay.... v1.2 should do the job

lets talk about more filters
Attached File(s)
File Type: ex4 engulfing EA v1.2.ex4   302 KB | 2,464 downloads
  • #13
  • Mar 28, 2019 5:19pm Mar 28, 2019 5:19pm
Quoting dicojoxaftr
{quote} hi okay.... v1.2 should do the job lets talk about more filters {file}


Hello dicojoxaftr,

Ok, the new version takes engulfing all good thank you so much, but still one important thing that I hope you can do it.


You put a fixed SL, but the original EA donīt have a fixed SL because each engulfing candle is differente on pip size and the SL always need to be in the min/max of the candle some pips far away like 2 o 4pips.

Here an example:


Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 51 KB



Can you do that the EA always put the SL in the max/min of the engulfing keeping the risk? like SL of 30 pips you risk 3%.....SL of 100 pips you risk same 3% always in the max/min of the engulfing please. Hope you can do that

Sorry for my english it is not my first languaje.
  • #14
  • Mar 29, 2019 4:03am Mar 29, 2019 4:03am
Quoting Invermac
{quote} Hello dicojoxaftr, Ok, the new version takes engulfing all good thank you so much, but still one important thing that I hope you can do it. You put a fixed SL, but the original EA donīt have a fixed SL because each engulfing candle is differente on pip size and the SL always need to be in the min/max of the candle some pips far away like 2 o 4pips. Here an example: {image} Can you do that the EA always put the SL in the max/min of the engulfing keeping the risk? like SL of 30 pips you risk 3%.....SL of 100 pips you risk same 3% always in...
if sl and tp values are set to 0 the ea put sl 3 pips away from the high or low of the engulfing candle, then put the tp with 80% the size of sl
try it on the tester
  • #15
  • Mar 29, 2019 7:10am Mar 29, 2019 7:10am
Quoting fantasfor
Hi, if you make your EA like this, will give good results. 1. Look for either a bearish or bullish engulfing which has a minimum of 2 decent candles closed within its opening and closing price 2. Box up the reference engulfing to include the wicks. Note that candle should be a minimum of 18pips. 3. Wait for a breakout on either sides and set your pending order at the breakout point and your final entry should be 50-61.8% of the engulfing with a take profit as the size of the box for the reference candle and stop loss (2 - 5pips) slightly beneath...
Yes, i've heard about this system. And those who're trading it manually are doing great. Perhaps we're on the same forex whatsapp group!
  • #16
  • Mar 29, 2019 1:28pm Mar 29, 2019 1:28pm
Quoting fantasfor
1. Look for either a bearish or bullish engulfing which has a minimum of 2 decent candles closed within its opening and closing price 2. Box up the reference engulfing to include the wicks. Note that candle should be a minimum of 18pips. 3. Wait for a breakout on either sides and set your pending order at the breakout point and your final entry should be 50-61.8% of the engulfing with a take profit as the size of the box for the reference candle and stop loss (2 - 5pips) slightly beneath or above the reference box depending on the type of order...
Could you give an example on the chart?
Thanks
  • #17
  • Mar 29, 2019 2:38pm Mar 29, 2019 2:38pm
Hello,I am sorry that it is strange English because it is Japanese


How about adding MA, MACD, and adding market momentum ,,,
I have no knowledge of EA
  • #18
  • Mar 29, 2019 3:00pm Mar 29, 2019 3:00pm
Quoting meat
Hello,I am sorry that it is strange English because it is Japanese How about adding MA, MACD, and adding market momentum ,,, I have no knowledge of EA
Explain more
  • #19
  • Mar 29, 2019 3:36pm Mar 29, 2019 3:36pm
Quoting dicojoxaftr
{quote} if sl and tp values are set to 0 the ea put sl 3 pips away from the high or low of the engulfing candle, then put the tp with 80% the size of sl try it on the tester

Hello,

Ok the SL works perfectly in 0 value. But one last thing. I noted a new parameter called " Bar 2 min size". In the original EA just only ask for "bar 1 size" and the "interval" parameter dissapears in the EA 1.2, Can you try to put the original strategy please keeping the money management? Because with out that things the results are totally diferent:

ORIGINAL EA SAME SPREAD AND TIME:

Interval: 25
lot: 2.0 micro
tp: 35 pips
Exp time: 20
Bar1size: 15 pips

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 74 KB


EA 1.2 SAME SPREAD AND TIME: (trying to put the same parameters)

risk=10
Maxlot=100
sl=0
tp=35pips
maxspread=100
maxtrades=10
time1=0
time2=24
price_offset=0
exp_minutes=20
bar1_size=15pips
bar2_size=0
close_all_p_ords=false
adx_filter=false

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot4.png Size: 81 KB
  • #20
  • Apr 8, 2019 4:37am Apr 8, 2019 4:37am
Please help i am looking for a simple engulfing candle EA with below input parameters:

Time Frame
From Entry price( It must only go live after price reaches a certain price)
SL
TP
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