Engulfing Bollinger Momentum Trading Strategy | NoCoding |with AlgoBuilderX

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The Engulfing Bollinger Momentum strategy - combines the use of two technical indicators (EMA and Bollinger Bands) with the Engulfing candlestick pattern to identify high-probability trading opportunities. This strategy has been developed for trading on cTrader and allows for the parametrization of lot size, take profit (TP), and stop loss (SL) values for optimal risk management.
Strategy Details
Indicators Used:
EMA (Exponential Moving Average): Used to determine the trend direction.
Bollinger Bands: Used to identify volatility and dynamic support/resistance levels.
Entry Pattern:
Engulfing Pattern: A reversal pattern that occurs when a candlestick completely engulfs the previous candlestick, indicating a potential trend reversal.
Entry Rules
Buy Entry Signal:
The candlestick closes above the EMA.
The candlestick breaks the lower (bottom) level of the Bollinger Bands.
A bullish Engulfing pattern occurs.
Sell Entry Signal:
The candlestick closes below the EMA.
The candlestick breaks the upper (top) level of the Bollinger Bands.
A bearish Engulfing pattern occurs.
Customizable Parameters
Lot Size: Determines the position size to open for each trade.
Take Profit (TP): The price level at which the position will be automatically closed to secure a profit.
Stop Loss (SL): The price level at which the position will be automatically closed to limit losses.
Implementation in cTrader
This cBot has been developed to integrate seamlessly with the cTrader platform, offering intuitive configuration and efficient trading management. Users can easily adjust the parameters for lot size, TP, and SL within the cBot settings to tailor the strategy to their specific trading needs.
 

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To create the cBot I invite you to watch this video I made on youtube: