Bearish/Bullish candle count and average on ENGULFING

Bearish/Bullish candle count and average on ENGULFING

Based on a request on the forum (https://www.prorealcode.com/topic/count-5-10candle-sticks-that-closes-above-50-ema/), I wrote this indicator that may help to better identify when an Engulfing pattern can be a good reversal point.

It counts candles BELOW an MA (on a Bullish Engulfing) and candles ABOVE an MA (on a Bearish Engulfing). I added two MA’s, to detect when their average counts are rising or dropping to make an even better decision:

Share this

Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

New! PRC is also now on YouTube, subscribe to our channel for exclusive content and tutorials

avatar
Register or

Likes

avatar avatar
Related users ' posts
luxrun Good evening Nicholas, I can not see the colors on the line of the moving average, but only ...
Nicolas Yes, you must choose the oscillator that will color the moving average. Example: ONCE UseC...
Vonasi Discussion on this indicator/filter can be found here: https://www.prorealcode.com/topic/121...
Vonasi Forum discussion on these indicators can be found here: https://www.prorealcode.com/topic/av...
jennr29 Hi. Is it possible to convert this code to an mq4 file?
Nicolas Sorry but our website is dedicated to prorealtime programming. However, you can ask for priv...
JM David, Thanks a lot and next week I begin the test of this strategy in real... You have ot...
rejo007 hello david, i'll try it could you tell me wich strategy do you use in real? thanks
David Somogyi Hello, I have a couple of DAX strategies of breakout and mean reversion. I'll try to post...
Bougnat bonjour, ton screener semble intéressant .... merci pour le partage
Doctrading Hello, Higher timeframes are better. I suggest D1 or H4.Best regards,
Pinkybouh hello, I propose to add another conditions: ie: haussier: close > open and close >...
TheHovisTrader I'd be interested in the actual profit of this - in the example the stop range is at least 2...
Nicolas Thanks for contributing to the "ichimoku section" of the prorealtime code library Don't he...
sourberry Thank you , this is a great indicator works beautifully. Could you kindly modify to scr...
Julio Hi Doctrading, Is it possible to flip this to a "going bearish" by simply switching the cod...
Doctrading Hello, Yes, you can do it very simply...
Tarek Laaroussi Hi doctrading i am the one who sent you the email first thanks for the code . It really wo...
Nicolas Pour cela il faudrait définir comment détecter les supports et résistances, comment et où ca...
cypressat Merci beaucoup pour cette réponse Nicolas. Je ne peux rien dire parce que je suis totalement...
Matt B Cypressat, tu as essayé l'autre indicateur que mentionne Nicolas ? https://www.prorealcode.c...
Cavok Bonjour, Comment utiliser cet indicateur comme screener? Merci.

Top