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Heikin Ashi Engulfing Signals with EMA and RSI Filters

Article MQL5 code base
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Summary

This brief description outlines a bullish Heikin Ashi engulfing setup. A candidate candle must close above the prior bearish candle’s high, while the Heikin Ashi open is above a 20-period EMA and that EMA is above a 30-period EMA. Two RSI filters, with periods 5 and 14, can also be configured, along with overbought and oversold levels.

The text mentions candle-shift and measurement-range settings, a variable moving-average type, and alerts for mobile and native platforms. It gives no backtest, performance figures, exit rules, position sizing, or detailed account of how the RSI conditions affect signals. One range-related setting is described as currently inactive, and the source text is fragmentary, so implementation details and the complete trading logic are unclear.

Key ideas

  • A bullish setup requires the Heikin Ashi candle to close above the previous bearish candle’s high.
  • The described trend filter places the Heikin Ashi open above a 20-period EMA, with the 20-period EMA above the 30-period EMA.
  • Two configurable RSI periods and overbought or oversold levels are available as filters.
  • The document provides no performance evidence or complete risk and exit rules.

Tags

Technical indicatorsEquitiesMomentum

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.