Engulfing Strategy With MA Support/Resistance Confirmation

[fallingangel]

Dear Friends

Can you make engulfing strategy that opens positions as follows?

Bullish engulfing, open position only if engulfing candlestick has touched the MA & closed above it
Bearish engulfing, open position only if engulfing candlestick has touched the MA & closed below it

Also, can you make stop loss & take profit as follows?

For long, place stop loss at the low of the engulfing candlestick, take profit at twice the stop loss
For short, place stop loss at the high of the engulfing candlestick, take profit at twice the stop loss

Finally, can you make money management where strategy loses 2% of the equity when stopped?

Thank you!

[Apprentice]

Your request is added to the development list.
Development reference 1666.

[Apprentice]

Something like this?
viewtopic.php?f=31&t=69984

[fallingangel]

Good Morning

True, bullish engulfing meaning engulfed candlestick is red and engulfing candlestick closes above engulfed candlestick open price, vice versa for bearish engulfing

[fallingangel]

Dear Apprentice

Any progress on this request? I believe this is easy done, since you have this strategy:

viewtopic.php?f=31&t=69984

, you can add a filter where strategy opens position as described in the beginning of this thread.

Thank you

[Apprentice]

Your request is added to the development list.
Development reference 1761.

[Apprentice]

Engulfing Strategy v3.lua

(138.1 KiB) Downloaded 179 times

note: you need to update the indicator

Engulfing.lua

(9.67 KiB) Downloaded 176 times

[fallingangel]

Hi Apprenitce

I uninstalled all previous extensions, restarted FXCM platform and imported new extensions. I set MA Filter to "Yes", and left User Color Filter to "Yes" assuming that this refers to the new filter. Strategy behaved as per previous version, i.e. opened short when engulfing took place below the MA, while the filter I am after is to open short when the engufling candlestick has TOUCHED the MA and price closes below the MA, vice versa for long.

Thanks

[fallingangel]

Dear Apprentice

Please refer to attached file where the two different short cases of engulfing candlestick touching the MA appear. The one is where price opens below the MA, touches and closes below it, while the second is where price opens above the MA, crosses and closes below it. Vice versa for long. There are the conditions where I would like strategy to open positions.

Looking forward to your reply

[Apprentice]

Your request is added to the development list.
Development reference 1817.