Engulfing body or wicks mode and filter on previous candles

Engulfing body or wicks mode and filter on previous candles

Two different requests were made in the same topic in the Probuilder forum, one to be able to have the option of using either body or wicks for an engulfing candle, the other to add a filter of a number of consecutive candles in the same direction prior to the engulfing candle.

https://www.prorealcode.com/topic/codage-englobante/

Whilst it helps with some reversal patterns against a trend, it doesn’t filter out patterns going with a trend at the end of it. As such it is not ready-made for direct trading from it, but should just be considered as a piece of code to add to other filtering criteria of your own to trigger some detections only in the zones you’re interested in.

Use Ncandles as number of consecutive candles in same direction before engulfing

Use Body as boolean 0 or 1 to trigger « candle body mode » for engulfing detection

Use Wicks as boolean 0 or 1 to trigger « candle wicks mode » for engulfing detection

Result is histogram +/-0.5 for body mode, +/-1 for wicks mode

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

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  1. samsampop • 12/23/2020 #

    This is very useful, look forward to testing it out. Thank you very much

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