Bullish/Bearish Engulfing Pattern strategy - expert for MetaTrader 5

Bullish/Bearish Engulfing Pattern strategy – EA MetaTrader 5

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Main Functions:

  1. Engulfing Pattern Detection:

    • Identifies bullish or bearish engulfing patterns for trade signals.

  2. RSI Confirmation:

    • Confirms signals using the RSI indicator, filtering out weak trades.

  3. Dynamic Stop Loss and Take Profit:

    • Automatically adjusts SL and TP based on market volatility using the ATR indicator.

  4. Adaptive Trailing Stop:

    • Trailing stop is adjusted based on volatility to lock in profits effectively during market movements.

  5. AI-Like Adaptive Strategy:

    • The EA adapts its trading parameters based on win/loss streaks and market volatility for improved risk management and performance.

Usage:

  • Attach to Chart: Works on 1-minute to 1-hour charts.
  • Test on Demo Account: Before live trading, run the EA on a demo account to ensure it performs as expected and adjust parameters if necessary.
  • Supported Markets: Suitable for crypto and forex trading.
Alternative:   Commentator - indicator MetaTrader 5

Bullish/Bearish Engulfing Pattern strategy – expert for MetaTrader 5
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