Fibo Engulfing MA TS Indie
- Indicators
- Opengates Success International
- Version: 1.1
- Updated: 22 August 2022
- Activations: 10
Fibo_Engulfing_Trading_System
Fibo_Engulfing_Trading_System is a great indicator created to locate an engulfing candle on the Chart with the aid of an Arrow and Popup alerts system. For accurate working of an engulfing candle based on market structure, it must be used with an Moving Average but we discovered that Moving average is subjected to individual trader's preferences, therefore it has been coded in a way that the Trader can choose MA he/she desires with a preferred PERIOD, SHIFT, METHOD and PRICE, this will enable the trader to test it with their own custom MA to get the best result.
Whenever the price crosses above the MA and Engulfing candle forms for buy signal, it will locate it with arrow and popup alert (if set by the trader) and does the same for sell signal as the price crosses MA downward. After that, the Fibo system has been coded in it to measure out the double size of the Engulfing candle, plot out and display the ENTRY, SL, BREAKEVEN and TP points on the CHART for the Trader. All the Trader needs to do is just to open a trade according to all the parameters given by this system.
In order to do this, immediately the system gives an Engulfing candle signal with arrow, the Trader must wait until the engulfing candle closes and then open the Parameter Setting for further plotting on the window chart.
NOTE THAT THIS INDICATOR HAS NO SYMBOL/TF CHANGER CODED IN IT, IF YOU WANT THE ONE THAT HAS SYMBOL/TF CHANGER CODED IN IT, PLEASE VISIT HERE: https://www.mql5.com/en/market/product/64813
SETTINGS:
Enable Parameter Display: true/false (The default is "false" but when you want to plot it, you MUST change this to "true" otherwise it will not show up.
Candle's No: This is to pick the position of Engulfing candle on the chart, mostly, it used to be the current candle (0) if it has not yet closed but if it has closed and forming new one, then it can become previous (1) or even next previous (3) if the price has not gone beyond the Engulfing candle - Please check out the screenshots for the graphical examples. To pick the right position of the Engulfing candle, the current candle is the one that still forming as the price is moving up/down and the number is 0, while the previously closed one is 1 and the next previous is 2 and so on. Put the number of the Engulfing candle here.
PERIOD MA: Default is 0, but you can put anyone as you preferred (for those who have no idea of what period they can use, you can put either 20, 30, 50 or any period of your desire, they are all working but the original period I use are 20, 30 or 50).
SHIFT MA: You can leave this one as zero if your MA system doesn't require for it.
MA METHOD: You can click on this to select an option from the menu - Simple, Exponential, Smoothed and Linear weighted. For me, I use Exponential as default but feel free to change it.
MA PRICE: You can use any price you like but I use CLOSE price as my default. Feel free to change it.
Enable Alerts: True/false (Select as you desire - Popup alerts).
By the time you are through with all these settings, and click OK, the indicator will plot all the parameters you need and just follow them to open a trade as plotted by the indicator. When you are done opening your trade, then go back to the parameter setting again and click on RESET, everything will go back to normal and this will remove all the lines plotted on your chart and everything will look like it was as before but you will need to re-insert your MA Period.
Note that this is not a perfect system (Holy grail) but it can give you financial freedom you so much desire with your determination, patience and diligence.
If you have any question or inquiry about this product, kindly contact me through our Telegram Products Support group link: https://t.me/OpgtsProdSupports
Thanks for your interest in this product.
Cheers
