The Engulfing Price Pattern Metatrader 4 Forex Robot is an automated trading software that utilizes an Engulfing chart pattern and some moving averages to trigger buy/sell trade signals that are executed on autopilot.
The Engulfing forex robot functions on all time frames on major currency pairs, for instance GBP/USD, EUR/USD, USD/JPY, USD/CAD, etc.
You can test on other MT4 symbols as well.
The Engulfing EA can be further enhanced by tweaking the EA’s inputs values.
In addition, the Engulfing expert advisor automates the process of spotting these reversal patterns and it acts on it by triggering buy and sell positions.
Position management on the Engulfing forex trading robot is flexible and once values are set, the EA takes it up from there.
Strategy Tester Report
Find below the Engulfing Price Pattern forex robot strategy tester report for the EUR/USD forex pair on the 4-Hour chart.
The EA made a total profit of $2168.13 from a total of 73 trades. The largest winning trade generated $392.16 in profits, while the largest losing trade generated a loss of-$198.07.
Bars in test: 9991 ticks modelled
Initial deposit: $10000.00
Total net profit: $2168.13
Total trades: 73
Largest profit trade: $392.16
Largest loss trade: -$198.07
Consecutive wins: 4
Consecutive losses: 1
MT4 Forex Robot Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Expert advisor
Input Parameters: Enable “no loss,” When to move break even, How much pips to move sl, Lots size, MaximumRisk, DecreaseFactor, TrailingStop, Stop Loss, MagicNumber, TakeProfit, FastMA, SlowMA…
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: Engulfing Pattern | MA
Copy and paste the ENGULFING.mq4 into the MQL4 Experts folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Experts (paste here)