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Instrument: REA_EngulfingArrow

REA_EngulfingArrow

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Disclaimer

The graphic studies and any other indication generated by the software should not be considered as personalized investment advice or even as investment recommendations. The setups generated by the software search for market conditions developed on prices in the past and are useful for statistical purposes.

The software is not able to work autonomously and requires various inputs from the trader for pattern research, statistics processing and any other expected functionality.

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.

Downloads

Download the REA_EngulfingArrow for the cTrader platform
License:
FREE

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