Below there are the pin bar detector and engulfing bar alert indicators I use. Is there a possibility to code a signal alert only when the full range (high-low) of the signal bar is bigger than the full range of the previous x bars? This way we could eliminate some insignificant signals. The same would be helpful with engulfing indicator too, to avoid small engulfing patterns. I am also looking for a better engulfing indicator which uses the principle that can be seen on the attached picture. Or could you modify this indicator according to this picture, please?
Thanks in advance!