Engulfing H4 + Filter — Indicator by th3web

relativestrengthindex averagetruerange trendanalysis engulfingcandle h4

I realized this indicator to facilitate the Backtesting operations.
The indicator autonomously detects the Engulfings to which filters can be placed. The available filters are:

- ATR (discards Engulfings which do not have a body greater than or equal to the value of ATR)
-SWING(SWING filter, the indicator ensures that the Engulfing minimum/maximum must be the absolute minimum/maximum with respect to the number of spark plugs selected in the settings)
- L3C/H3C (discards Engulfings that do not form an L3C or H3C)
- RSI (Discards Engulfing that is not in overbought/oversold in the first pattern candle)

In addition, the indicator draws 4 lines (2 for bullish Engulfings and 2 for bearish Engulfings) which are SL and TP.
The Stop Loss is calculated an ATR below/above the swing generated by the two Engulfing spark plugs and the Take Profit is calculated according to the return risk set in the indicator, which is 1.5 by default.

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Code Updated

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Correct part of the code. Now the SL and TP lines are calculated correctly on all time frames and the indicator can be used for the periods you prefer.

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Changed the display graphics of SL and TP.

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The possibility of inserting stop loss pips manually has been implemented.

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Invite-only script

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