This indicator detects the Engulfing candlestick pattern and draws the corresponding market entry signal.
- A combination of 2 candles is considered.
- Candles without a body are ignored.
- By default, the indicator calculates the values for 200 previous candles.
- It works on all currency pairs, on any timeframe.
- The free version requires the deals to be filtered manually by the trader.
- Signal filtering is available.
- Distance - distance from the High/Low of the candle to the generated indicator signal (larger parameter values are recommended for higher timeframes)
- PerfectSignal - enable the signal filter. Signals will be generated only if the body of the first candle was completely engulfed by the second candle.
PerfectSignal - generate only accurate signals
This option filters the candles, and generates a signal only when a complete engulfing had taken place (one candle was completely engulfed by the body of the second candle).
Also, optimized and redesigned the code.