Looking for EA to trade bullish and bearish engulfing candles
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Thread: Looking for EA to trade bullish and bearish engulfing candles

  1. #1
    I have been looking for a publicly accessible EA to trade basic engulfing bearish and engulfing bullish patterns for MT4. If you ever came across one please discuss it...

    Thank you!

  2. #2
    As an update: I had my two EA's made from scratch for $400 complete at ex odesk (upwork they call it now)...

  3. #3
    Quote Originally Posted by ;
    dude wrong thread
    Trading systems thread is not any good? Where do I ask this question?

  4. #4

  5. #5
    I believe that the first step in identifying a interior design pattern is to confirm there is a trend. What rules would you suggest for determining this? I'd really like to make this EA for you, but I think it would be helpful if you could possibly clarify the rules step-by-step

  6. #6
    For me I am looking for an ea that could place an order based on external bar. An outside engulfing bar being one with a higher or equal high and a lower or equal low to the prior bar. The stop loss is the period of the engulfing bar and 2 points and spread. The entry is just two points below or above the low or the top of the engulfing bar. The take profit is the period of the engulfing bar and a user determined percentage.

    Hope that makes sense



    thanks

  7. #7
    Hi,

    What I understand you looking an Expert Ad-visor which could set pending orders with sharp price movement so as to ch the movement or same type Specialist Ad-visors have setting when price moves they have setting Price Step and timer means when price will proceed it will measure its speed and points away activate the order then it's possible to ch the big movement.

    There no freely available yet but you can see in MQL5 web at no programming area.

  8. #8

  9. #9
    Alright, so here's the EA that can trade like max_pips simply described
    I personally think this system is missing an advantage, but I had some spare time, so I made it depending on your request.

    I took the liberty to include an option to take spreads into account the correct manner, rather than how max_pips explained.
    Also, because the identifiion of an Engulfing pattern involves trend affirmation I added the option to utilize some MA's to help you do that. I also added an option to use the previous candles bearish/bullish bias as one would normally need to identify the pattern, because otherwise there will always be two orders placed rather than a single biassed order.

    Precisely what the EA does:

    IF Use MA Trend Filter=true
    THEN IF PA gt; MA's
    THEN search for buys (and vice versa for sells)

    AND
    IF Use Prev Candle Bearish/Bullish Filter=true
    THEN IF candle2 is bearish
    AND IF candle1 bullish
    THEN look to place buy order (and vice versa for sell orders)

    AND
    IF candle1 high gt;= candle2 high
    AND candle1 non lt;= candle2 low
    THEN place pending order above/below candle1 (offset is adjustable)

    AND
    The SL will be placed in candle1's high/low (offset is adjustable)

    AND
    The TP pips will be an adjustable factor of candle1's length (candle1 high - candle1 low)*factor

    IF Take Spreads Into Account The Correct Way=true the spread will be added to the entry offset for buys and to the leaves for sells.
    IF Take Spreads Into Account The Max_Pips Way=true the spread will be added to the SL for both buys and sells (notice I think this may not make sense)

    Please notify me when I misinterpreted the request
    If there is anything more I can do, let me understand

    Happy trading!

    Saf

    EDIT: 05-27-2015: EA Updated
    https://www.forexforum.co.za/attachm...92027517742.08
    https://www.forexforum.co.za/attachm...21754439260.08

  10. #10
    Thanks SAFV6, I truly appreciate it. I believe that I just didn't clarify the spread piece well, I knew exactly what I desired

    For me personally this is a portion of a system which is based on my interpretation of this market. I simply have to decide whether to accept the trade or not. Unfortunately it doesn't work for me since I am on Mac, so a quirk of the is that I also need the MQ4 document in order for it to work.

    If you are happy to provide it, thanks a lot, or even, thanks a lot anyway

    Max

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