MT5 Indicator Engulfing Candle/Zones, Break of Structure,
Moving Average and Alerts
Create an MT5 indicator using Engulfing Candle/Zones
Features
1. Auto Mark Engulfing Candle/Zones - EG , EF and Multi-Time Frame EG, EF
2. Auto Mark Break of Structure (BOS)
3. Draw an Arrow if Engulfing Zones is Touched
4. Auto Mark Higher Time Frame Engulfing Candle/Zones
- Choose 2 Time Frame For Example H1 and M15
5. Alert / Mobile Notification if theres BOS, Engulfing Zone Created
Engulfing Zone is Touched
6. Invalidate Engulfing Zone by
- Price
- Close
7. Turn on/off Engulfing Zones, BOS to clean chart
8. Trend Filter Using Moving Average
Will Send Source Code For Future Updates, Revision
Plus other specifications that will be encountered to be discussed with coder
See Illustrations Below For Engulfing Zones, Break of Structure, etc
Engulfing Candle/ Zone Illustration
Type 1 Simple Engulfing Candle/Zone - EG (Abbreviation)
Bullish EG
______
Type 2 Engulfing Candle/Zone - EG (Abbreviation)
- Candle is engulf by 2 or more candles
__________
__________
__________
__________
Trend Filter Application
Chart Toggle on Dashboard
-Trend Filter On/Off
-Bullish Only On/Off
-Bearish Only On/Off
********* To be Updated.. Too Sleepy....
Updated July 17, 2023
Type 3 Engulfing
EF (Engulfing Failed) - is Normal EG that is Failed because Price Close Above/ Below the Zone
EG Will be Marked - Green
Please See Sample Pictures
1.
2. EG Touch - Signal Arrow
3. Candle Closed Above EG
4. Signal Arrow on EF Touch
*********************************************************************************************
Multi- Time Frame EG Marking
For Example we choose H1 and M15
It will Mark the H1 EG and M15 EG on the Current Chart
For Example the current chart is M15, it will mark the H1 EG with a Square line which is inside is the M15 EG
Please see Picture..
That would be all.. any issues that will be encountered will be discussed with the coder...
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