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.