Engulfing EA
Logic:
- Level Trading:
- The EA identifies bullish and bearish engulfing patterns by comparing the open, close, high, and low prices of consecutive candles.
- It sets pending orders (Buy Stop or Sell Stop) based on these patterns, with the entry price calculated at a defined interval above or below the engulfing candle’s high or low.
- The stop loss and take profit levels are also calculated based on the interval and set dynamically for each order.
- Scalping:
- The EA operates on short-term price movements, looking for quick profits from small price changes.
- The take profit and stop loss levels are tight, which is typical for a scalping strategy.
- The expiration time for pending orders is set to a short duration, ensuring that trades are executed quickly or canceled if the market does not move as expected.
