Candle Dominator Pro
- Indicators
- Version: 1.0
- Activations: 5
Candle Dominator Pro
Why Candle Dominator Pro is not just another engulfing indicator
Most engulfing indicators on the market follow the same logic: find two candles — draw an arrow. No filters, no trend context, no market awareness. The result — dozens of false signals every day.
Candle Dominator Pro solves this problem through a multi-layer filtering system. Every signal passes up to 7 independent checks before appearing on the chart. You get fewer signals — but every single one is high quality.
Key differences from competitors
- No repainting — arrows appear only on closed bars and never disappear
- RCI filter — Japanese Spearman Rank Correlation indicator, extremely rare on the market, more sensitive to reversals than the standard RSI
- Synthetic Candle — Japanese technique that merges two pattern candles into one to evaluate wick quality. Unique filtering not found in competing products
- Level Proximity — signals only near real support and resistance levels
- EA compatibility — connect via iCustom() for automated trading
Expert Advisor compatibility via iCustom()
The indicator is fully compatible with automated trading systems:
// Buffer 0 = Bullish signal, Buffer 1 = Bearish signal double bull = iCustom(NULL, 0, "Candle Dominator Pro", /*params*/, 0, 1); double bear = iCustom(NULL, 0, "Candle Dominator Pro", /*params*/, 1, 1); // Value != 0 means a signal is present on bar [1]
PATTERN DETECTION
Body dominance ratio — ratio of the current candle body to the previous one. The higher the value, the more aggressive the engulfing must be. A value of 3.5 means the current candle body must be 3.5 times larger than the previous one.
Full body overlap required — the current candle body must completely overlap the previous candle body. A stricter condition that filters out partial engulfings.
Full candle sweep — the current candle must engulf the previous one including wicks. The strictest condition — fewer signals but higher quality.
Min body size (points) — minimum candle body size in points. Filters out small insignificant patterns. Recommended to increase on higher timeframes.
Max body size (points, 0=off) — maximum body size. Filters out abnormally large candles on news events. Set to 0 to disable.
Require prior trend confirmation — a preceding trend must exist before the pattern. Bullish engulfing requires a downward move, bearish requires an upward move.
Trend lookback (bars) — how many bars back to check for the preceding trend.
Synthetic candle quality check — Japanese technique. Merges two pattern candles into one and checks wick quality. For bullish — lower wick must exceed the body, for bearish — upper wick must exceed the body.
SIGNAL FILTERS
EMA trend filter — signals only in the direction of the trend. Bullish engulfing only when price is above EMA, bearish only when below.
EMA period — moving average period for the trend filter.
ATR volatility filter — volatility filter. The candle must be within a certain size range relative to ATR.
ATR period — ATR calculation period.
Min candle size (x ATR) — minimum candle size. A value of 0.6 means the candle must be at least 60% of the ATR value. Filters out weak patterns.
Max candle size (x ATR, 0=off) — maximum candle size. A value of 2.7 filters out abnormally large news candles. Set to 0 to disable.
ADX trend strength filter — signals only when the market is trending, not ranging.
ADX period — ADX indicator period.
ADX minimum level — minimum ADX value. At 17 — signals only when ADX is above 17.
Higher timeframe filter — signal only if price on the higher TF is aligned with EMA direction.
Higher timeframe — which timeframe to use. Must be above the current chart timeframe.
Higher timeframe EMA period — EMA period on the higher timeframe.
RSI filter — bullish signal not given in overbought zone, bearish signal not given in oversold zone.
RSI period — RSI period.
RSI overbought / oversold level — RSI overbought and oversold levels.
RCI filter — Japanese RSI alternative based on Spearman Rank Correlation. More sensitive to price direction changes.
RCI period — RCI period. Japanese standard 9-11.
RCI overbought / oversold level — RCI overbought and oversold levels.
TREND CONFIRMATION
Enable trend confirmation filter — signal only when the market is moving in the required direction.
Trend confirmation period — calculation period for the filter.
Trend confirmation sensitivity — filter sensitivity. Lower value — more signals, higher value — stricter filtering.
LEVEL PROXIMITY
Enable level proximity filter — signals only when the pattern forms near an important support or resistance level.
Swing strength (bars each side) — how many bars on each side confirm the swing level. The higher the value, the more significant the level.
Swing lookback (bars) — how many bars back to search for the nearest swing level.
Max distance to level (points) — maximum distance from the pattern to the level in points.
NOTIFICATIONS
Sound alert — audio notification on new signal.
Popup alert — popup window in the MT5 terminal.
Push notification — notification to your phone via the MetaTrader app.
Sound file — name of the audio file for the alert.
Recommended timeframes
H1 and above. On lower timeframes it is recommended to reduce the Min body size (points) parameter.
Also available: a simplified free version in my profile on MQL5 Market.
