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This order is for the creation of an indicator and a dashboard which will be able to send alerts to phone, email or pop up.
The logic is to identify bearish or bullish engulfing patterns, with the added condition that the preceding two candles must be the same direction but different from the engulfing candle. i.e we look for three candle formation such that:
1. Bearish Candle + Bearish Candle + Bullish Engulfing Candle {For Buy set-ups}
2. Bullish Candle + Bullish Candle + Bearish Engulfing Candle {For Sell set-ups}
Indicator should only be placed on one chart while the dashboard should be placed on another. User to be able to select the timeframe in the indicator to scan.
Indicator and dashboard should be able to scan all available instruments on Market Watch.
Also, the bodies of two candles preceding the engulfing candle should have identical size (i.e if body of Candle A is 10 pips, body of Candle B should be between 9 - 11 pips). The allowed difference in body height would be set by the user. In the example case given, the difference is 1 pip. Also, the user will be able to select the minimum body size for the first two candles, for instance, if the minimum body size is 5 pips, then if any of candles A and B have a body height of 4 pips, it should not see the set-up. Also, the user will be able to specify these inputs for each timeframe. Indicator and Dashboard should understand the pip count for the different pairs as you know the pip count for JPY pairs and gold and silver are different from the pip count in pairs like Eurusd.
When the indicator send out the alert to phone and email, it will add another message. I will provide the message after. but the message is to be added to the signal. The message will be the same for all signals. The message is only to remind me of other things to look out for before I take the trade.
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