Forex indicators and BOTs
Forex indicators and BOTs
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USD
Downloadable
Engulfing Candle MT5 EA
F
Forex indicators and BOTs
(0 Ratings)
1
$6.53
$11.63
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Details
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Here are the key features:
Pattern Detection
Bullish Engulfing
: Identifies when a bullish candle completely engulfs the previous bearish candle
Bearish Engulfing
: Identifies when a bearish candle completely engulfs the previous bullish candle
Configurable engulfing ratio
: Control how much the current candle must engulf the previous one
Trading Features
Risk Management
: Position sizing based on account risk percentage
Stop Loss & Take Profit
: Configurable in points
Maximum Positions
: Limits the number of open positions
Direction Control
: Enable/disable bullish or bearish pattern trading separately
Additional Features
Trailing Stop
: Optional trailing stop functionality
Time Filter
: Trade only during specified hours
Minimum Candle Size
: Filter out small insignificant candles
Magic Number
: Manages only positions opened by this EA
How It Works
Waits for new bar formation
Analyzes the last two completed candles for engulfing patterns
Validates pattern quality (size, ratio, direction)
Checks risk management rules
Opens position with appropriate stop loss and take profit
Manages trailing stops if enabled
Frequently bought together