Reply To: Description of Price Action Engulfing Candles Strategy

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Today I’m publishing new version of Price Action EA: 1.2 !

In new version we can switch on/off trading in the first and last day of each month (“First_Day_Of_Month” and “Last_Day_Of_Month”). We can also use market orders instead of pending orders (useful for strategy testing) with parameter “Stop_Orders_instead_of_Market_Orders”. Additionally, from now EA draws arrows on chart when there is new BUY or SELL signal. Also, I optimized code of program in new version a little bit.

In new version there are two experimental features: “Trailing_TP_in_BB” (with 2 parameters: “BB_Period_for_TP” and “BB_Deviation_for_TP”) and “Trailing_SL_in_BB” (with 2 parameters: “BB_Period_for_SL” and “BB_Deviation_for_SL”). The concept includes putting and moving Take Profit and Stop Loss automatically on Bollinger Bands. You can take a look on this short video how it works:

I made also several videos with examples of optimizing and testing of Expert Advisor:

First video shows how to start test in visual mode and analyze strategy BEFORE optimization:
It can be used, for example, if we’re going to test strategy on new timeframe or new currency pair. In this way we can also control the correctness of the operation of the strategy (triggering and expiring of pending orders, putting TPs, SLs etc.).

Second video is a quick example how to load settings and make optimization of some parameters of strategy: It shows how optimizing works in real time (so you can imagine how long can it take to optimize all parameters together.

Third and the last video about optimizing process shows the whole process of optimization of all parameters step by step:

New settings for EURUSD M5 you can find here:


In the first uploaded file (which was 2 times downloaded) was a small bug which can cause error and stop Expert Advisor. I suggest to re-download.