Engulfing Indicator Pattern Recognition

1. DON'T PRIVATE MESSAGE ME ABOUT HOW MUCH THE JOB IS WORTH 

2. MAKE SURE YOU UNDERSTAND THE JOB AND UNDERSTAND THE WORK THAT IS REQUIRED  -

3. MY EXPLANATION IS VERY DETAILED AND EASY TO UNDERSTAND IF YOU DONT UNDERSTAND  .... ASK  

4. THIS IS AN INDICATOR  

ENGULFING CANDLE - must add - chart alert - smart phone alert - email alert 

setup

Rule 1. the “body” of candle to completely engulf the candle on the left or right

they can be at the same level top or bottom; the engulfing candle must be green in an uptrend and red in a downtrend

 trigger

Rule 2. the candle before the engulfing can be any color

Rule 3. must be touching or off the 21 SMA

Rule 4.  Incorporating the tails(wicks) – You want to see one of the next TWO candles AFTER the engulfing candle has closed to – TRADE above/below by 2 pips before the candle CLOSES 

 Cancelled setup - if the set up is an up trade set up

Rule 5. After the engulfing triggers you are waiting for a TRADE above the high of the engulfing by pips.  If the market trades below the low of the engulfing candle FIRST by 2 pips BEFORE you get a TRADE above the high by2 pips of the engulfing candle then the setup is DISQUALIFIED

Rule 6. if two bars have closed after the engulfing candle and you still have not “broken” above the high by 2 pips then its also DISQUALIFIED

Rule 7. if more than 1 bar closes beyond the 21 SMA in a different direction than the prior 3 bars it’s DISQUALIFIED

Rule 8. the engulfing candle must not close more than 30 percent from its high or DISQUALIFIED

 Cancelled setup - if the set up is a down trade

Rule 9. After the engulfing triggers you are waiting for a TRADE below the low of the engulfing by 2 pips.  If the market TRADES ABOVE the high of the engulfing candle FIRST by 2 pips BEFORE you get a TRADE above the low by 2 pips of the engulfing candle then the setup is DISQUALIFIED

Rule 10. if two bars have closed after the engulfing candle and they did not “break” below the low by 2 pips then its also DISQUALIFIED

Rule 11. if more than 1 bar closes beyond the 21 SMA in a different direction than the prior 3 bars it’s DISQUALIFIED

Rule 8. the engulfing candle must not close more than 30 percent from its low or disqualified