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Advanced Engulfing Bar Breakout with Trend Indicator & Expert Advisor

 

Overview

 

  • This  Price Action breakout pattern can be applied  to all markets and time frames..

  • The Engulfing Bar Breakout with Trend EA identifies and trades breakouts of  Engulfing  Bar patterns in the direction of the overall Trend.

  • It can be optimized and applied to any MT4 chart on any time frame.

  • The Engulfing  Bar identifier is fully customizable for all Engulfing  Bar parameters including  Engulfing Bar size (pips), Close of the Engulfing in relation to the overall size of it (to ensure a strong close in direction of the trade), close of the Engulfing Bar either outside the previous candle in the direction of the trade (True or False) and many other parameters

  • The Engulfing Bar trades  can be optimized for entry points, stop loss values  in relation to either the high/low of the Engulfing bar depending on whether a short or long set up is identified.

 

  • The Trend filtering system includes optimizable short term and long term EMA filters, as well as a EMA Trend strength function to help avoid flat markets.

 

  • The EA places pending orders. The EA has a confirmation function, which when turned on turns the EA into a sophisticated Indicator with Alert system. Simply review the setup when alerted, and confirm if you want the trade placed. This allows review of each set up before trades are placed.

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Money Management

 

  • User Defined parameters for Risk:Reward to create high returns with low drawdowns.  Risk can be determined by either Risk %  or Risk $

  • Entry can either be by breaks above or below the Pin Bar, or by Pending Limit orders to improve Reward:Risk

Optimizations

 

  • User Defined parameters for Risk:Reward to create potential for high returns with low draw downs.  Risk can be determined by either Risk %  (in relation to account balance), or a fixed dollar amount per trade.

  • Entry can either be by breaks above or below the Pin Bar, or by Pending orders to improve Reward:Risk ratios

Important - Please Read Carefully

 

  • This EA has to be Optimized by the user/purchaser for each time frame and financial instrument it is applied to on MT4     WE DO NOT PROVIDE DATA SETS FOR THE PURCHASER.    This is not possible as these optimized data sets need to fit with the users individual Brokers  GMT time frame and historical data for back testing.

  • The user must have a solid back ground and understanding Price Action theory and terminology in order to use this EA This will allow easy understanding of the user defined parameters in the EA and will allow incredible customization ability to fit the EA to the Users trading style and preferences.

  • The user must have knowledge and experience in back testing procedures within MT4 as well as access to historical data for their broker to apply the back testing to for optimizations.

  • The EA is provided with an extensive Manual explaining each of the user defined parameters for each pattern traded by the EA. It also provides some suggestions for getting started with optimizations.

This Expert Advisor is NOT FOR YOU if you are not comfortable with strategy testing optimization processes with MT4. The user must optimize and back test the EA for each time frame and instrument it is used on.