Engulfing Strategy (Made with AlgoBuilderX)

// This cBot was created with AlgoBuilderX
//
// AlgoBuilderX is a powerful tool for creating automated trading strategies on the cTrader platform.
// With an intuitive drag-and-drop interface, you can easily build and customize your own trading
// algorithms without any coding knowledge. Whether you're a beginner or an experienced trader,
// AlgoBuilderX offers a seamless experience for developing, testing, and deploying your very own cBot
//
// Visit https://algobuilderx.com to start building your own cBots today!

This cBot is an example, made for demonstration purposes using AlgoBuilderX and works only on demo accounts.

Strategy: This strategy is very simple but powerful. It takes advantage of the candle pattern block in AlgoBuilderX to automatically detect the Engulfing pattern. When a bullish Engulfing occurs a long position is opened. When a Bearish Engulfing occurs a short position is opened.

The strategy uses a fixed take profit and stoploss.

Parameters:

Backtest example (1 year):

AlgoBuilderX Project:

NEW CANDLE PATTERN BLOCK! Automatically identify preset patterns or create your own custom pattern!

Choose the pattern you prefer:

Or, create your own Custom Candle Pattern

Create your cBot now in an easy and intuitive way!
Try AlgoBuilderX now, no registration required: www.algobuilderx.com

You can find the AlgobuilderX project for free in our Discord channel: https://discord.gg/tYutSeQN

You will be able to import it into the AlgoBuilderX workspace, view it, edit it, or export it.

Important Note:
This cBot is a demonstration example created with AlgoBuilderX and is not optimized for live use. It is designed to illustrate the functionality of AlgoBuilderX and serve as a starting point for creating custom strategies. It is recommended that you carefully test and optimize any strategy before implementing it on a real trading account.