Reply To: Description of Price Action Engulfing Candles Strategy

Forums Strategies and Expert Advisors Price Action Engulfing Candles EA Description of Price Action Engulfing Candles Strategy Reply To: Description of Price Action Engulfing Candles Strategy

#4535
DominikDominik
Administrator

@jobudi888 wrote:

Hi Dominik,
I have not tested your EA yet but looking very good. Anyway I have a suggestion about putting partial close on tp, or when it open order it opens 3-5 order with 3-5 different tp or more.
for example I open 0,1lot with 50% on the 1st tp and 30% on 2nd tp and 20% on 3rd tp so this way your EA it can scalp and follow trend, with SL moved to BE when it hit 1st tp and SL move to 1st tp when 2nd tp hit and so on. ( I hope it’ll do better :D )
Or we can use BB or S/R as TP or SL but still use partial closed.
I don’t know which one easier, open 3-5 order with different tp or with option of partial closed with 3-5 different tp and the SL change when it hit TP.
Sometime I also closed the trade when there is a 50 or more pip candle and enter again or not after it retraced. And some times I used last candle as an SL.

Thanks for sharing Dominik
Regards,

Hi!

Thanks for the idea. I’ll consider to add it to next version if results will be reasonable. I’m working now on new functionality, so that all values can be automatic. Bollinger Bands are not the best solution for automatic TP and SL. I’m still looking for a better. I’m optimizing right now parameters for another currency pairs and I will compare them and I will try to find common features.

Regards!

P.S. If anyone has already downloaded first file with version 1.2 of EA (uploaded on forum yesterday), I suggest to re-download, because there was a small bug in it causing errors.