Mad Pound Profits is a MetaTrader 4 expert advisor that automates trading based on structural breakouts and price action. The system utilizes time-specific analysis windows throughout the day to identify entry opportunities. It incorporates technical elements such as Fibonacci levels, momentum indicators, and mean reve
Trading robot · MT4
Engulfing One
This MetaTrader 4 expert advisor implements a basic price action strategy based on bullish and bearish engulfing candlestick patterns.
GitHub stars1
Forks0
Last update7 years ago17 Oct 2018
LicenceNone stated
Overview
Engulfing One identifies trade signals by comparing the current candle body to the previous one at the start of each new bar. The logic includes dynamic stop loss placement at recent candle extremes and take profit targets based on the current market spread. The repository represents an early-stage development project; it lacks a README and contains hardcoded lot sizes. The provided code requires manual activation of trade execution functions as some order commands are commented out.
- Bullish and bearish engulfing detection
- Dynamic stop loss at candle extremes
- Spread-based take profit targets
- Bar-by-bar signal evaluation
Details
Author
WebDevPDX on GitHub
Type
Trading robot
Platform
MetaTrader 4 (MQL4)
Strategy
SMC / ICT / price action
Markets
Any symbol
Timeframes
Any timeframe
Risk profile
No grid, martingale or hedging logic was found in its code or README. That says nothing about how it performs: backtest it first.
EA files
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone WebDevPDX/Engulfing1 from GitHub, and unzip it.
- 2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL4/Experts.
- 3Copy the filesCopy the .mq4 file into Experts.
- 4Compile in MetaEditorOpen the file in MetaEditor and press Compile. Fix any missing includes the compiler reports.
- 5Test before you tradeRun it in the Strategy Tester, then attach it to a demo chart and allow algorithmic trading.
Third-party code. ForexR did not write, test or endorse this EA, and the summary above was generated automatically from its README and code. ForexR lists only repositories with readable source code and never hosts files. Read the code, backtest it and use a demo account first; automated trading can lose money quickly.
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