Reversal indicator, need coder

[hidethereal]

I have a simple idea for a reversal idea. This idea will also work GREAT in five minute scalping.

It is based off a candle formation known as an "engulfing pattern". Do any form of backtesting on engulfing patterns and you will see they are correct over 80% of the time.

Here is what would need to be coded.

If bullish candle "real body" (not shadows, high and low) fully engulfs bearish candle "real body" after a downtrend (doesn't matter how big or small) then we need a buy signal.

If bearish candle "real body" (not shoadows, high and low) fully engulfs bullish candle "real body" after an uptrend (doesn't matter how big or small) then we need a sell signal.

The engulf would need to be at least 1 pip on both sides but this needs to be able to be changed from the platform in order to tweak it to fit different time frames.

I need to remind everyone that an engulfing pattern also needs to be confirmed by the following candle, needs to be same color as reversal candle to be on the safe side.

Price action is the only form of trading that will get you in the move when it happens with no delay.

I have a feeling that 5 minute scalping will be a breeze with this indicator.

I also have an idea for a "hanging man" and "hammer" indicator but we'll take this one step at a time.

I think this idea will greatly benefit everyone on this board. Any coders who have some spare time this will greatly be appreciated and it can hopefully make us all a few pips.

[pinedajp]

Reversal Indicator

I think I could make it; could you please post a graphical description of what you really need.

Regards.

[jealrich]

Tested strategy

I have a simple idea for areversal idea. This idea will also work GREAT in five minute scalping. It is based off a candle formation known as an "engulfing pattern". Do any form of backtesting on engulfing patterns and you will see they are correct over 80% of the time. Here is what would need to be coded. If bullish candle "real body" (not shadows, high and low) fully engulfs bearish candle "real body" after a downtrend (doesn't matter how big or small) then we need a buy signal. If bearish candle "real body" (not shoadows, high and low) fully engulfs bullish candle "real body" after an uptrend (doesn't matter how big or small) then we need a sell signal. The engulf would need to be at least 1 pip on both sides but this needs to be able to be changed from the platform in order to tweak it to fit different time frames. I need to remind everyone that an engulfing pattern also needs to be confirmed by the following candle, needs to be same color asreversal candle to be on the safe side. Price action is the only form of trading that will get you in the move when it happens with no delay. I have a feeling that 5 minute scalping will be a breeze with this indicator. I also have an idea for a "hanging man" and "hammer" indicator but we'll take this one step at a time. I think this idea will greatly benefit everyone on this board. Any coders who have some spare time this will greatly be appreciated and it can hopefully make us all a few pips. /

Tested your strategy. I am not sure how you achieved 80%. I got 50/50. What is your target and SL. Let me know and I can test