Engulfing Candle Pattern MT4 Indicator
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The Engulfing Pattern indicator is a candle pattern indicator that draws a signal on the chart whenever an engulfing candle pattern is formed. The indicator criteria are:
1. Two candlesticks comprise the engulfing pattern. The second real body must engulf the prior real body (it need not engulf the shadows).
2. The second real body of the engulfing pattern should be the opposite colour of the first real body (it need not engulf the shadows).
A bullish candle is shown with a green arrow below the candle and a bearish candle is shown with a red arrow above the candle. Indicator includes alert notifications.
Candle patterns are some of the most commonly used technical analysis tools.
This indicator allows you to quickly identify the Engulfing Pattern either on the chart or in a separate window.
This will help you to scan the markets to analyse this signal against your trading strategy or to assist you in your trade management decisions.
Metatrader 4 – MT4.
The indicator signals are displayed in a separate window off chart (oc).
Signal on Chart
Signal off Chart
Frequently Asked Questions
After you purchase your indicator, you will see a purchase confirmation page. On this page you will be able to download your purchased indicator. You will also receive an email some time after purchase with another copy of the download link.
You can find full instructions on how to install and activate in this article: How to Install and Use MT4 Custom Indicators and EAs (full guide).
No, custom MT4 indicators and EAs only work on the desktop version of MT4. It is also recommended that you checkout on a PC.
You will be directed to a checkout page to complete your download. If it is a free indicator then you will just need to put in your name and email address and then you will receive access to the free download.
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All downloads whether free or paid are subject to the Digital Download Terms And Conditions as found here: LINK.
There is no support available with the Free downloads. We are happy to receive feedback and suggestions, please send these via our contacts page: LINK.
These products are sold with limited support and ‘as is’. Information on the indicators, their purpose, functionality and inputs are available on each individual indicators page and associated PDF guide which is free to download and review.
For basic troubleshooting please email [email protected] with your purchase reference and we will respond within 24 hours (Monday-Friday).