Hello all, Happy New Year.
I've been searching for a very basic MT4 engulfing candle indicator that suits my needs but had no luck.
Most of the indicators I've found require the candle to fully engulf the high and low of the previous candle which is not necessary for my
I just need it to close higher than previous candles high for a bullish engulfing candle (no need to break the previous candles low) and close
lower than the previous candles low for a bearish engulfing candle (no need to break the previous candles high).
The only other rule I need is that the previous candle must be opposite to the engulfing candle...eg. For a bullish engulfing candle, the
previous candle must be bearish and for a bearish engulfing candle, the previous candle must be bullish. That is it.
Apologies if this indicator is available already, I just haven't been able to find anything after hours of searching!
If someone could help me create this or maybe adapt one of the current engulfing indicators I would really appreciate it.
Many thanks :)
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