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Engulfing scanner with RSI filter MT5

This indicator scans for engulfing and tweezer formations. The indicator can write the signals to a file which can be used by an Expert Advisor for auto trading.

Features

  • Can monitor all symbols visible in your Market Watch window at the same time. Apply the indicator to just one chart and instantly monitor the entire market.
  • Monitors every time frame, from M1 to MN, and sends you a real-time alert when an Engulfing or Tweezer formation has been identified.
  • Uses RSI as a trend filter in order to properly identify potential reversals.
  • The indicator includes an interactive panel. Please see separate screenshot.
  • Can be configured to show buy/sell lines and TP/SL lines (based on ATR multiplier). The lines will be shown on the chart which you open by clicking on a signal in the panel. Please see screenshot below.

It is enough to place the indicator on one chart and you will receive an alert from any symbol and any time frame of your choice.


I recommend you to put the indicator on a EURUSD M5 chart, preferable a clean chart without any other indicators or Expert Advisors on it.

Please note that due to the multifunctionality neither buy/sell advice nor lines and arrows will be drawn on the chart where the indicator is installed. They will be drawn on the chart which will be opened when clicking on a signal in the panel.


Parameters

The description and explanation of the input parameters can be found here.
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バージョン 1.1 2020.07.07
- corrected an issue with signals not beeing written to the .csv file