Description

Engulfing Candle Momentum EA

Short Tagline: A price action strategy that trades bullish/bearish engulfing patterns at key levels, u…

Short Description:
Engulfing Candle Momentum EA is a fully automated price action / momentum reversal. Expert Advisor for MT4 and MT5. A price action strategy that trades bullish/bearish engulfing patterns at key levels, using the engulfing candle as a momentum-shift signal. Built-in risk controls and market filters keep execution disciplined across live and demo accounts.

---

Overview

A price action strategy that trades bullish/bearish engulfing patterns at key levels, using the engulfing candle as a momentum-shift signal. The engulfing body’s dominance over the prior candle signals a decisive shift in control worth trading in that direction.

Features

• Engulfing candle detection
• EMA50 (trend/level context)
• Support/resistance swing levels
• Configurable stop-loss, take-profit, and trailing logic
• Session, spread, and news-time filters for disciplined execution
• One-trade-per-bar / duplicate-signal protection
• Clean, single-file MQL4 and MQL5 implementations
• No hidden logic — every input is exposed and documented
• No martingale, no grid, no hidden recovery logic

Trading Strategy

Entry logic: – Bullish engulfing: current candle’s body fully engulfs the prior bearish body, at/near support or an EMA50 pullback. Enter on break of the engulfing high or next candle open.

• Bearish engulfing: mirror at resistance.

Exit logic: – Exit at the next structural level or on an opposite engulfing pattern.

Stop-loss: SL beyond the engulfing candle’s extreme (low for longs / high for shorts) plus a small buffer.

Take-profit: TP at the next S/R for 2R; scale 50% at 1.5R.

Trailing stop: Trail behind subsequent swing points after 1.5R.

Break-even: Break-even at 1R.

Why it works: Clean, universally recognized pattern.; Momentum-based, decisive signals..

Recommended Settings

• Timeframes: M30, H1, H4.
• Instruments: EURUSD, GBPUSD, USDJPY, XAUUSD, US30.
• Account type: ECN/Raw spread accounts preferred
• Minimum recommended balance: $500+ (adjust lot sizing to your risk tolerance)
• VPS: Recommended for 24/5 uptime and consistent execution
• Risk management: Risk 1% per trade. Max 3 open. Prefer engulfing patterns aligned with the higher-TF trend.

Supported Markets

Forex majors and crosses, gold, indices.

Supported Brokers

Compatible with any regulated MT4 or MT5 broker offering standard order execution (market or instant execution). Works with ECN, STP, and standard account types. No broker-specific dependencies.

Installation Guide

1. Download the .ex4 (MT4) or .ex5 (MT5) file from your purchase delivery.
2. Open MetaTrader, go to File → Open Data Folder.
3. Copy the file into MQL4/Experts (MT4) or MQL5/Experts (MT5).
4. Restart MetaTrader or right-click Expert Advisors in the Navigator and select Refresh.
5. Drag the EA onto the chart of your chosen symbol and timeframe.
6. Enable Allow live trading (and Allow DLL imports if prompted) in the Common tab.
7. Adjust inputs to match your risk profile, then click OK.
8. Confirm AutoTrading is enabled in the toolbar.

• Session filter: London and New York for intraday timeframes.
• Spread filter: Reject if spread > 2.5 pips / symbol threshold.
• News filter: Pause entries 15 minutes around high-impact news.
• Volatility filter: Require the engulfing candle range to exceed the recent average (a strong, decisive engulf, not a marginal one).

Risk Disclaimer

Trading forex and CFDs carries a high level of risk and may not be suitable for all investors. Past performance, backtest results, and simulated outcomes are not indicative of future results. This EA does not guarantee profits. Always test thoroughly on a demo account before deploying real capital, and never risk funds you cannot afford to lose.

Version

v1.0.0

Support

Support is provided through the marketplace messaging system. Please include your broker, symbol, timeframe, and EA version when reporting an issue.

Updates

Free updates are provided for bug fixes and compatibility improvements. Feature updates may be released as versioned upgrades.

FAQ

Q: Does this EA work on both MT4 and MT5?
A: Yes, separate optimized builds are provided for each platform.

Q: Can I run this on multiple pairs at once?
A: Yes, attach separate instances to separate chart/symbol combinations.

Q: Does it use martingale or grid recovery?
A: No. This is a pure signal-based strategy with defined risk per trade.

Q: What timeframe works best?
A: M30, H1, H4. for the cleanest signals, but the EA can run on other timeframes with adjusted inputs.

Q: Is a VPS required?
A: Not required, but strongly recommended for uninterrupted 24/5 operation.