Hi, I am Jan, developer of this indicator.

Please feel free to ask me anything about this, or my other products.

Regards,

Jan 

Jan

I originally looked at your Inside Bars Scanner and the write up showed push alerts so I bought it and your Engulfing with RSI and Pinbar with RSI. After installing found out the latter two do not have push alerts. Do you plan an enhancement to add push alerts to those two?

Thanks

Dennis

Hello Dennis,

I have actually already added push alerts to the Pinbar scanner (together with some other enhancements). The changes are available in the new version 1.1 which was published earlier today. I presume that you as a buyer of this indicator will be able to download the update for free. Please let me know if you will experience some problems with this and don't hesitate to contact me in case of any further questions. I will be glad to assist.

I have also added push alerts to the Engulfing scanner. I will publish the update tomorrow. Then it will take the MQL5 team up to 10 days before it will be approved and published. If you have the "versions of purchased product" checkbox checked in the Notifications section in your MQL5 profile settings you should get a push alert when the update is available.

Jan

Jan

Thanks so much for the quick reply. Yes I will be able to download the update on both products. Did not know about checkbox you alluded to, thanks for the info. I'm still a "newbie" and only doing demo for now, so the timing is not critical but will look into it. Hopefully I will be able to do a good review soon, I really like the fact that these products scan the market so I don't have to stare at the computer all day.

Thanks again

Dennis

Hi,

There are many method of engulfing bar A,B: which does type engulfing indicator detect?

- range candle B engulfs range candle A

- body candle B engulfs range candle A

- body candle B engulfs body candle A

- candle B below low A or above high A

- candle B ranges higher closes below open candle A or opposite

Should be useful improve indicator with size and wicks ratio candle.

Thanks in advance for reply.

Fab.

Hi,

the indicator detects classical engulfing which means range candle B engulfs range candle A. But you have of course a point here that there are other "semi" engulfing patterns which could be more interesting for some traders. It does not seem to be to much effort to implement a combobox which will let you select the type of engulfing pattern to scan for. Will do this change within a couple of weeks. I will add at least 2 of the patters you have listed above. There should also be an option to scan for all the patters listed in the combobox.

I will have to give it a thought regarding the size and wick ratio options. If I will do also this change I would have to set another price for the indicator and I am not sure if it will then be as interesting to buy. If I will get similar wishes from other potential customers then I will do it for sure.

Thanks for understanding and please do not hestiate to contact me in case you have further questions.

Jan

Thanks Jan.

Fab

Hi,

I have now added the possibility to select from 3 different engulfing patterns:

• range candle B engulfs range candle A
• body candle B engulfs range candle A
• body candle B engulf body candle A

Hi, hi buy your indicator right now.

Please can you tell me a right setting form me?

I trade in TF5min with period 30m/1Hr

Thank you

Hi,

first of all I would like to thank you for your interest in this product.

If I understand you correct you will trade in the timeframes M30 and H1. The classical engulfing definition is that body candle B must engulf body candle A. This is listitem number 3 in the indicator settings. I would set it to this value. You could also allow to set the RSI values a little higher/lower. For instance 70/30 with period 14 and Close price. Moreover you could play a little with the candle size settings. The more volatile the currency pair is the higher the setting should be. For instance for the volatile GBPUSD and GBPJPY you could set the min. candle height to 200 and max. to 800 (points). If your intention is to monitor all kind of pairs then you could leave it to 0 and make the decision when the signal appears. You will of course always have to open a separate chart with the pair and timeframe in question in order to check a signal.

Important is to make at least one additional price action analyze before you take any trade. Even though the RSI filter itself helps to indentify a possible reversal, it is advisable to make sure that the formation appears at a supply/demand zone (support/resistance). Most important though is that you play around with the settings on a demo account for at least a couple of weeks before you will trade live.

Finally I would like to inform you that I today uploaded a new version of this indicator where I have added the possibility to set minimum body size in percentage of the engulfing candle. The larger the body the higher the quality of the signal. A new version will normally be published by the MQL5 team within 10 days. Please see the screenshot below. If you have that setting, and the metatrader app for smartphone installed, you should get a push notification to the phone when a new version of a bought or rented product is available.

 Please do not hestiate to contact me in case you have further questions. I will be glad to assist :-)

Jan

Hi Jan, can  we put all indicators to one chart? 

Hi and thanks for your message.

I am not sure what you mean with all indicators. But if you for instance would like to drag this indicator 3 times to one chart in order to get signals for the 3 different Engulfing patterns, then this is possible. I would then recommend you to drag it to an empty  and passive chart without any ocscillators. By passive I mean a chart which you are not actively working with. For instance changing timeframe and/or symbol. 

I hope that this was the answer to your question. Please don't hestitate to contact me if you have any further questions.

Jan

Hi and thanks for renting my indicator :-)

You are actually the first one who has asked for such an option. I it of course possible to implement alerts on the current candle (shift 0). But the engulfing formation must then be considered as pending (unconfirmed). I would have to build a database to store all alerts on the different symbols and time frames since the engulfing formation can appear and disappear many times within a very short time interval if there is a high volatility on a symbol. Without storing the alerts you would get repeated alerts even within a couple of seconds. 

I am so sorry to disappoint you but I do not promote such a solution. If I will get another couple of such request I will of course reconsider it.

I hope for your understanding.

Jan

ok,because sometimes price has ran  a long distance waiting for it closed.I  only need alert  one time for one time fram.  wating for more people ask for it.thank you for your quick response