I have decided to start a new thread for my engulfing EA.
This EA is for mt4.
first off: I will only be releasing .ex4 files , and not the source code , if you are unhappy about this please move on.
any new updates will be posted here.
the current version is beta v1 , it does not have all the checks and balances to run on a live account yet, I have written it to run on the strategy tester where it work perfectly on my system , but should run on a active demo account , this could also be broker dependent especially when it comes to placing pending orders.
here is a explanation of the settings:
EMA_Filter : EA will use EMA for trade decisions
open_after_EMA : trades will be opened after the current bar closes above or below EMA. If EMA_Filer is False this will be ignored
use_pending_orders : EA will place pending orders and not instant orders
MA_EMA : EMA setting
CandleShift : this is a dynamic algo that will check for engulfing bars on a higher timeframe relative to the current timeframe in the current timeframe's bars. Setting this to a value of 1 (one) is equivalent to only checking the current bar and will not check on a higher timeframe.
pend_points : number of points higher or lower orders will be be place from the current signal , this includes stop loss and take profit.
pending_expiry = 14400; after xxx seconds pending order will be deleted. most brokers have 10-15 minutes minimum duration that pend. orders must stay active.
Lot = 0.01 : lots to trade
FiboLevelTP : take profit will be set to the fibo level , this is static and does not change
FiboLevelSL : stop loss will be set to the fibo level , this is static and does not change
(NEW) trade_close_on_bar_close : trades will close on the next bar if in profit(usefull for H1 H4 ...) if true trades will get a take profit of 99 points and not the fibo level
ProfitTrailing : use trailing stop true/false
TrailingStop : trailing stop will kick in at these pips.
TrailingStep : stop loss will be move up when these pips have increased.
MagicNumber : magic number
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from what I have seen is that there is no one setting for all currency pairs as they all behave differently and have different characteristics , so optimizing and different settings for pairs will be required. Some currency pairs will make more money / pips than others , that is just the nature of the market.
That said I will post up what I think are the best .set files for the different currency pairs.
so please test and let me know of any bugs and also post up your results , whether from optimization or daily trading.
if you do find a bug please include part of the journal and experts logs , also any suggestions you have just post.
thank you
This EA is for mt4.
first off: I will only be releasing .ex4 files , and not the source code , if you are unhappy about this please move on.
any new updates will be posted here.
the current version is beta v1 , it does not have all the checks and balances to run on a live account yet, I have written it to run on the strategy tester where it work perfectly on my system , but should run on a active demo account , this could also be broker dependent especially when it comes to placing pending orders.
here is a explanation of the settings:
EMA_Filter : EA will use EMA for trade decisions
open_after_EMA : trades will be opened after the current bar closes above or below EMA. If EMA_Filer is False this will be ignored
use_pending_orders : EA will place pending orders and not instant orders
MA_EMA : EMA setting
CandleShift : this is a dynamic algo that will check for engulfing bars on a higher timeframe relative to the current timeframe in the current timeframe's bars. Setting this to a value of 1 (one) is equivalent to only checking the current bar and will not check on a higher timeframe.
pend_points : number of points higher or lower orders will be be place from the current signal , this includes stop loss and take profit.
pending_expiry = 14400; after xxx seconds pending order will be deleted. most brokers have 10-15 minutes minimum duration that pend. orders must stay active.
Lot = 0.01 : lots to trade
FiboLevelTP : take profit will be set to the fibo level , this is static and does not change
FiboLevelSL : stop loss will be set to the fibo level , this is static and does not change
(NEW) trade_close_on_bar_close : trades will close on the next bar if in profit(usefull for H1 H4 ...) if true trades will get a take profit of 99 points and not the fibo level
ProfitTrailing : use trailing stop true/false
TrailingStop : trailing stop will kick in at these pips.
TrailingStep : stop loss will be move up when these pips have increased.
MagicNumber : magic number
----------------------------------------
from what I have seen is that there is no one setting for all currency pairs as they all behave differently and have different characteristics , so optimizing and different settings for pairs will be required. Some currency pairs will make more money / pips than others , that is just the nature of the market.
That said I will post up what I think are the best .set files for the different currency pairs.
so please test and let me know of any bugs and also post up your results , whether from optimization or daily trading.
if you do find a bug please include part of the journal and experts logs , also any suggestions you have just post.
thank you
