The ENGULF 3.2
One chart, three readings that must agree - the forex major pairs and XAUUSDIt trades only where the premium/discount zone and the market structure point the same way, and it takes every price from the chart rather than working them out again on the server.
DirectionZone and structure must agree
EntryAt market, on the zone tap
Stop lossThe level the indicator sent
Take profitTwo levels, both from the chart
Risk per tradeHalf the last win, else your table
BacktestNot in this build
How it manages a trade
- It runs on the forex major pairs and XAUUSD, on whichever chart the indicator is attached to.
- Three messages arrive from one indicator: which half of the range price is in, which way structure is pointing, and the zone tap itself.
- A sell needs the premium half and a bearish structure. A buy needs the discount half and a bullish one. Two out of three is not enough.
- A change of character that is only a minor one does not turn the direction around. It waits for a break of structure to confirm, and the panel says so while it waits.
- The entry, the stop and both targets are the levels the indicator drew. The server will refuse a set that is on the wrong side or out of order, rather than quietly fixing it.
- After a winning trade, half of what it made becomes the risk on the next one, and it keeps compounding that way until a trade loses. Then it starts again from your own table.
- You set what you are willing to lose on one trade, in money. The lot is worked out from that trade's own stop distance.
Suits you if you want gold traded only where the zone and the structure agree, with the size growing off its own winnings and resetting the moment one loses.