FXProSystems
Back

Engulfing - trade on candle patterns

Published: 20.06.2016
0
37153

Engulfing will be useful for traders, whose trade is based on the use of candle analysis. Engulfing detects on a chart candle patterns "Engulfing" and, depending on the nature of the figures (bullish or bearish engulfing), gives a signal to the input of the market in the form of arrow corresponding color and the direction.

Characteristics of Engulfing indicator
  • Platform: Metatrader4
  • Currency pairs: Any currency pairs (recommended Major)
  • Trading Time: Around the clock
  • Timeframe: H1 - W1
  • Recommended broker: Alpari, RoboForex

Engulfing indicator gives accurate signals on all timeframes, but it is better to use it on the higher time frames, starting with the H4, since the higher the timeframe used, the more accurate the signals of candle patterns.

Example of signals on H4:

engulfing-indicator

Engulfing indicator is equipped with sound and text alerts. But the alert is not finalized and sound alert is triggered many times after the appearance of the signal. Therefore by default it is false.

In the archive Engulfing.rar:

  • Engulfing.ex4
  • Engulfing.mq4
  • Engulfing_template.tpl

Free Download Engulfing Indicator

, ,
Author:
Daniel
Share
Related Post
Comments:
No comments yet, but you could be the first!
Name
Please enter your last name and first name
E-mail
No spam, we promise
Message text
By submitting this form, you agree to the political confidentiality and rules of our site.