Re: MT4 Indicator requests and ideas

19435
Goodmorning everybody,
I follow some free signals provider for educational pourposes and they track zones in a particular way. They call it E+E setup, there is some video on YouTube. I was wondering if it's possibile to create an indicator that write the zone automatically on the chart. The key idea is to find engulfing at the top or at the bottom of the price action on higher tf (h4), mark the zone from open to close of the first candle of the pattern, and then watch on the lower tf (m15) if there is another engulfing pattern in that zone, in a way to reduce the zone to trade in.
Of course when the price comes back in the zone it's time to enter in the market.
Do you think you can create such a zone indicator? Or at least take inspiration from this?
Thanks in advance for your usual efforts!
AleIcs


Re: MT4 Indicator requests and ideas

19440
josi wrote: Sun Oct 08, 2023 4:57 pm man, this indicator gives more false signals than any account can bear - the with candle direction is bad, but the counter candle direction is even worse.
One wonders what merit you find in it.
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joshi bro..
in m1 tf gets some good result only for 2bar expiry for counter candle direction setting,. if you are tying to use forex may be need another indicator .
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