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


Hi Luxyfer. Thanks!

1), 2) & 5) Correct.

3) Those yellow lines are breakeven-trigger levels (breakeven works only for orders that are not hedged).

4) It was a little “bug” in that first version of Price Action EA with hedging, because there shouldn’t be BUY STOP there. BUY STOP (twice bigger than first order) should be set only after triggering of the first order.

6) In this case, all orders were closed because profit set in parameters was achieved (profit + security buffer for hedging, which is also in the settings).

7) Algorithms are written so that when specified profit is reached all orders are being closed, regardless of which way price goes.

8) Once breakeven is activated, STOP order is deleted.

Hedging in version 2.2 was added mainly for testing. By the way, I added it at the request of one of the members of this forum.

In most cases, with a lot of open orders the sum of commissions (+ spread and swaps = transaction costs) grows a lot and price needs to go far away to get out with a profit. This is a significant problem in this case. I think that the new version of Price Action EA will be with hedging based on the summation instead of multiplication (eg. next orders: 0.1, 0.2, 0.3, 0.4, 0.5 etc… instead of 0.1, 0.2, 0.4, 0.8, 0.16 etc.). I will try to publish this new version today, but without set files, because I don’t have time to create them. I’m trying to adjust Price Action EA to higher timeframes now. Maybe even without pending orders or with them, but in very small distances from price. I don’t know if you know it, but last year there were 2 versions of Price Action EA on forum (Engulfing Candles and Moving Averages) and after I merged two projects into one, I totally neglected “Moving Averages” version, which worked very well on higher timeframes.