SNR Engulfing Pattern Bot
Logotipo de "SNR Engulfing Pattern Bot"
5.0
03/09/2025
189
Desktop, Mobile, Web
Since 01/10/2024
Free installs
189
Imagen cargada de "SNR Engulfing Pattern Bot"Imagen cargada de "SNR Engulfing Pattern Bot"Imagen cargada de "SNR Engulfing Pattern Bot"

FYI: This cBot has had over 600+ installs since June 2024 before migration to the cTrader Store.


Key Features:

  • Support and Resistance Levels: The bot allows you to define initial support and resistance levels. These levels are crucial as they help determine entry points based on price action.


  • Bullish and Bearish Engulfing Patterns: The bot identifies bullish and bearish engulfing candlestick patterns. A bullish engulfing pattern is identified when a larger bullish candle completely engulfs the previous smaller bearish candle, while a bearish engulfing pattern is identified when a larger bearish candle completely engulfs the previous smaller bullish candle.


  • Order Placement: Upon identifying an engulfing pattern near the defined SNR levels, the bot places limit orders. For a bullish engulfing pattern, buy limit orders are placed just above the high of the bearish candle, and for a bearish engulfing pattern, sell limit orders are placed just below the low of the bullish candle.


  • Additional Orders: The bot can place a series of additional limit orders spaced apart by a specified number of pips from the initial order, allowing for scaling into positions.


  • Risk Management: Each order includes a configurable stop loss and take profit to manage risk effectively.
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