bullish and bearish engulfing
Info
The bullish and bearish engulfing is a Expert Advisor for MetaTrader 5 that the ea trades based on the "bullish and bearish engulfing" pattern. inputs:bullish engulfing — the type of the position that should be opened when there is "bullish engulfing"bearish engulfing — the type of the position that should be opened when there is "bearish engulfing"risk in percent for a deal — risk per trade (position volume calculation) shift in bars (from 1 to 255) — horizontal shift in barsdistance (in pips) — distance parameter (see the below image for details)true -> close opposite positions — reverse of a given positionmagic number.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Experts folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use bullish and bearish engulfing
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
the ea trades based on the "bullish and bearish engulfing" pattern.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 5. Place the file in the MQL5/Experts folder and restart the terminal.
Description & Settings
Related: mq l5 wizard: trade signals with bullish/bearish engulfing and stochastic confirmation - another powerful expert for MetaTrader 5 traders.
Also recommended: mql5 wizard: expert advisors with bullish/bearish engulfing and cci confirmation - similar expert with strong performance on MetaTrader 5.
the ea trades based on the "bullish and bearish engulfing" pattern.inputs:
bullish engulfing — the type of the position that should be opened when there is "bullish engulfing"
bearish engulfing — the type of the position that should be opened when there is "bearish engulfing"
risk in percent for a deal — risk per trade (position volume calculation)
shift in bars (from 1 to 255) — horizontal shift in bars
distance (in pips) — distance parameter (see the below image for details)
true -> close opposite positions — reverse of a given position
magic number
You may also like: mql5 wizard: trading signals with bullish/bearish engulfing and mfi confirmation - excellent alternative for expert users on MetaTrader 5.
Source Code
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⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.