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Coder needed to make Engulfing Pattern Indicator on D1 timeframe


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#1 mararakudzai

mararakudzai

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Posted 22 June 2019 - 01:09 AM

Hi, there is a strategy that i have learnt practised and I use it,its an Engulfing pattern taught by the legendary trader Larry Williams.

It has a very high success rate this strategy,I know how to use the strategy and I know the rules of the strategy. It would be good if I can get someone who can code this strategy into a Indicator or EA,this would be a very profitable EA or indicator for us. So if you can code please put your skills to work and lets make $$$$$$



#2 gyilaoli

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Posted 30 June 2019 - 02:55 AM

Here you have an engulfing indicator, it works on every timeframe.

This indicator only calculates the engulfing of the bodies of the candle ( not the wicks ), if you want the wicks to be calculated let me know.

Attached Files



#3 mararakudzai

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Posted 26 October 2019 - 11:27 AM

hi thanks please also modify and post modified indicator that engulfs the entire candle including wicks, please ensure that the candle that is engulfing has its candle close price engulfing candle AND wicks of the candle it is engulfing. The exact rules for the EA or indicator are below, its a 3 candle formation and ONLY for Daily Timeframe D1 and the rules are:

 

For the Bearish engulfing we need first to see 2 green up candles following each other then the third candle must be a red down engulfing candle engulfing the previous green candle,the wick must be engulfed also.

 

For the Bullish engulfing we need first to see 2 red down candles following each other then the third candle must be a green up engulfing candle engulfing the previous red candle,the wick must be engulfed also.



#4 mararakudzai

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Posted 26 October 2019 - 11:33 AM

Finally it will be good if after the engulfing pattern has been confirmed then the EA or indicator must be able to calculate the high to low or low to high of the engulfing candle and the candle that has been engulfed,then the entry of the trade should be on the retracement which is at 70.5% retracement or 75% retracement or 80% retracement on the swing high and low of the 2 candles,the engulfing candle and the engulfed cable pulling swing from the wicks



#5 mararakudzai

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Posted 26 October 2019 - 11:36 AM

after trade is triggeredthen the trade must be managed by stop loss and take profit,it will be good if sl can be 25pips from entry price and tp at 50pips from entry price,if this strategy can be backtested,the results will be very interesting






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