• Overview
  • Reviews (1)
  • Comments
  • What's new

Candle absorption

This indicator detects the Engulfing candlestick pattern and draws the corresponding market entry signal.


Features

  1. A combination of 2 candles is considered.
  2. Candles without a body are ignored.
  3. By default, the indicator calculates the values for 200 previous candles.
  4. It works on all currency pairs, on any timeframe.
  5. The free version requires the deals to be filtered manually by the trader.
  6. Signal filtering is available.


Input parameters

  • 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.
Nikolay Gaylis
17218
Nikolay Gaylis 2019.01.14 06:52 
 

User didn't leave any comment to the rating

Version 1.10 2018.03.29
Added input parameter:

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.