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
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 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.
engulfing .rar
