Description
The REA_EngulfingArrow indicator will be useful for traders, whose trading is based on the use of candlestick analysis.
It detects “Engulfing” candlestick patterns on a chart and, depending on the nature of the figures (bullish or bearish), gives a signal with a Green arrow in a Bullish case and with a Red arrow in a Bearish case.
Functionality
- Arrow at the time of the buy or sell condition
Parameters
- How Many break out bars? : Number of candle breaks needed to confirm our zone and change color.
- Breakout Up Color: Choose the color you prefer for the Up arrow.
- Breakout Down Color: Choose the color you prefer for the Down arrow.