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Features:
Find these engulfing patterns:
- Simple Engulf
- Stick Sandwich Engulf
- Three Line Strike
- Rising Three
- Morning Star Doji
Scanner is useful to make your strategy better. Don’t always go by Win/Loss percentage. Because this tool is not based on past results.
Basic Settings:
For All Patterns You can set:
- First:Last Candle Ratio
This will make sure that the earlier opposite candle is at least this given ratio in height as compared to the engulfing candle. This is not checked for Three Line Strike or Rising/Falling Three.
E.g.: 0.8 value
Suppose for “Bullish Stick sandwich”, If Bullish engulfing candle is 100 points in height, then the middle Bearish candle should be at least 80 points in height.
Keep it 0 for no check.
- Min Engulfing Height (Points)
Minimum height in points for the engulfing candle based on timeframe.
Calculate all Min/Max Values using Cross Hair Tool:
e.g.: M1=5,M5=8,M15=10,M30=20,H1=30
Means for H1, the engulfing candle should be 30 or more in points.
- Check High Volume Bar For Engulfing: true
The engulfing candle should be at least medium (if medium true) or strong high Volume Candle
Read details in this blog post:
https://www.mql5.com/en/blogs/post/748113
