Simple engulfing bar indicator

If you have the time, could someone please program an alert (capable of use/adjustable on all time frames) for an engulfing bar pattern. All I am looking for is an alert for the current bar closing with a higher high and lower low than the previous bar. Thank you

The attached indicator - which I wrote a long time ago - will highlight OBs (and much more), but somebody will need to add an alert to it.

It plots white arrows to highlight outside bars (higher high, lower low than preceding candle), and optionally also yellow arrows for other candles whose body engulfs the previous candle's body. It can be attached to an MT4 chart of any pair, any timeframe. You can attach it to multiple chart timeframes if you wish.

The parameters work as follows:

MinBarHeight, MaxBarHeight - candles whose height (in points) falls outside this range will not be highlighted.

CloseWithinXpct - the close must be within the top X% of the candle, for a bullish candle, and in the bottom X% for a bearish candle. Set to 100 if this doesn't matter.

MinBodyPct - the body must be at least X% of the total candle height. Set to 0 if this doesn't matter.

MustFollowOppColor - set to true if the OB must be of opposite color to the candle that it engulfs. Set to false if this doesn't matter.

EngulfMarginPct - applies to engulfing body candles only, as opposed to OBs. The body must be at least X% in height, relative to the height of the previous candle's body. e.g. if the body must be at least twice as high, enter 200.

EngulfTolerance - applies to engulfing body candles only, as opposed to OBs. Allows a tolerance of X points between the close of the previous candle, and the open of the current candle. Setting this to a negative value means that only OBs, as opposed to engulfing body candles, will be highlighted (i.e. no yellow arrows on the chart).

StartHour, EndHour - Candles falling outside this time range will not be highlighted.

Difference between the larger and smaller arrows: This is a very rough attempt to highlight (with larger arrows) OBs/engulfing bodies that occur at the end of a trend (signaling a possible reversal), or during a pullback (signaling a possible continuation of the original trend).

Here's something you can try out for now.

It alerts on a higher high or a lower low for the completed candle.
Else it just says 'New Candle'.

It is set to alert 3 times with a 5 second delay, after each new candle opens.

If there's a higher high AND a lower low, then higher high takes precedence. ( fyi: if your using this for shorting )

Wavefiles go in <your mt4 directory>/sounds

Just found the attached indicator - I think the 'engulfing' settings reflect OBs. It has alert facilities.

Also, you might like to check out:
-- link to 1,000 MT4 indicators here, also here;
-- and the following links here (click on A, B, C, ... links to find indicator names starting with that character), here (perform a forum search), here (perform a site search);
-- and of course the search facility here at FF (if you haven't already done so).

Good luck.

excellent work and description, Hanover. thank you

The indicator has been upgraded considerably, it now checks for 8 different candle types, double tops/bottoms, and optionally provides both MT4 and e-mail/phone based alerts. See here.

Thanks for all the comments on indicators here. I'm looking for an mt4 indicator that identifies outer bars against subsequent candles rather than previous candles, and that keeps the high and low of the originating outer bar marked candle by candle (similar to support / resistance dotted lines) until either the high or low of the originating bar has been broken. If anyone has or has seen such an indicator on any of the threads, please let me know.

Thanks all.

hanover hi, My English is not very good but could change objects with arrows and include buffers in the OB ident indicator? will really appreciate it as I need it urgently and I have no programming knowledge to make that change, thank you very much and Blessings

Hi,

I am very sorry, but I'm no longer coding or troubleshooting indicators, unless the indicator or EA is useful to me personally. You could try posting in one of the "I code your indicators for free" threads, and perhaps somebody else can help you.

Or if you're willing to pay for the work, you could try MQL or elance.

Good luck,
David

like this minimum 5 or 6 candles that are engulfed each side left and right.. that big bar to be alerted as engulf bar detected.... any indicator is available here... i had mastercandle but it is showing only on right side.. not leftside counts...

Please help i am looking for a simple engulfing candle EA with below input parameters:

Time Frame
From Entry price( It must only go live after price reaches a certain price)
SL
TP

Hi Hanover, I wonder if you are still around on FF.

Intermittently. I'm no longer interested in debates on trading semantics, and I'm only coding requests if the indicator is useful to me personally (which is unlikely as I dislike most indicators).

My system does not use an indicator!!!