Pure Engulfing EA

The Engulfing candlestick setup has a strong reversal character. If the price is increasing and an Engulfing pattern is created on the way up, this gives us a signal that a top might be forming now.

The opposite is in force too. If the price is decreasing and an Engulfing pattern appears on the chart, this suggests that the price action might be forming a bottom.

Pure Engulfing EA it is a fully automated “Engulfing candlestick ” trading system, which is especially effective in trading on popular “pullback” currency pairs: AUDCAD, AUDNZD, NZDCAD. The system uses the follow trend of the Forex market in identify direction.

By default this ea uses the daily setting to filter engulfing in large timeframe and engulfing entries in current timeframe. By the way, you can change it in the H4 timeframe for filter.

This Ea uses a reasonable takeprofit and stoploss ratio. It takes profit the same size as stoploss to allow you to cover previous losses quickly!

Every trade has Stop Loss from every beginning, and they do not change. This is for those, who are looking for steady and stable growth over the long run.

Doesn't use grid, martingale or other dangerous money management methods.

Setting

• AutoLot       = true; Auto lots
• FixedLot      = 0.1; Fixed lots size
• Risk             = 2; Risk % (if #2=true)
• TakeProfit    = 300;
• StopLoss      = 300;
• interval       = 25; Interval
• magic          = 962231; Magic number
• slippage      = 2; Slippage
• bar1size      = 10;Current Timeframe barsize filter 
• TrendCandlestickPeriod          = 1440; For daily Filter, Use 240 for H4 filter