Job Description
The indicator is based on the Engulfing candle pattern. The size of the engulfing candle can be adjusted in the settings.
Features of the work
The indicator works on the instrument and on the timeframe on which it is installed. The indicator looks for a pattern when a new candle appears, so it does not redraw.
Indicator Settings
- Engulfing candle settings
- Maximum size - maximum candle body size, points;
- Minimum size - minimum candle body size, points;
- Maximum size by ATR - maximum candle body size, ATR coefficient (0 - not used);
- Minimum size by ATR - minimum candle body size, ATR coefficient (0 - not used);
- More in - the value of how many times the engulfing candle is greater than the absorbed one, coefficient;
- ATR period - the period of the ATR indicator, for calculating the size of the candle;
- Search period settings
- Search period type - you can choose one type of search: by candles or by date;
- History depth - depth of history to search for signals, 0 - searches on the full history, candles;
- Search start date - the date from which the search for signals begins, date;
- Message settings
- Allow to use alert - when a signal appears, a dialog window appears in the terminal;
- Allow the use of sending messages to the mail - when a signal appears, the program sends a message to the mail;
- Allow the use of sending push notifications - when a signal appears, the program sends a push notification to the phone;
- Arrow display settings
- Indent for the up arrow - indent down from the Low price of a closed candle to display the up arrow, points;
- Indent for the down arrow - indent up from the High price of a closed candle to display the down arrow, points;
- Estimated profit settings
- Get estimated profit data - the function of quick calculation of the estimated profit / loss in points for all the signals found, to determine the profitability of the settings;
- StopLoss - distance to loss limit, points;
- TakeProfit - distance to profit taking, points.
This version is not final, the indicator will expand its functionality.
If you have any questions about the indicator, please contact via personal messages at the link .
Version for MetaTrader 5 at the link .
