Engulfing Candle detector for MT5

4.33

Engulfing Candle Detector


Detectable pattern

  • Double Candlestick Patterns
    • Bullish Engulfing
      The first candle is black candle. The second candle opens with a gap below the real body of the black candle but rallies upwards to close above the real body of the black candle. In other words, the second candle's real body completely engulfs the first candle's real body

    • Bearish Engulfing
      The first candle is white candle. The second candle opens with a gap above the real body of the white candle but declines sharply to close below the real body of the first candle. In other words, the second candle’s real body completely engulfs the first candle’s real body

    • Bullish Engulfing (with Shadow)
      The first candle is black candle. The second candle's high price is above than first candle's high annd second candle's low price is lower than first candle's low price.In other words, the second candle with shadow completely engulfs the first candle with shadow

    • Bearish Engulfing (with Shadow)
      The first candle is white candle. The second candle's high price is above than first candle's high annd second candle's low price is lower than first candle's low price.In other words, the second candle with shadow completely engulfs the first candle with shadow

 


Functions

  • Choose engulfing detect method
    • Engulfing with candle body
    • Engulfing with upper and lower shadow

  • Engulfing candle Highlight
  • Filtering by the Marubozu body percentage

  • Drawing additional line and boxes
    • HLine drawing (50% of engulfing candle)
    • Box drawing (from 50% to 61.8%)
    • Box drawing (161.8%)

If you have any idea for improve this indicator.

Please welcome your precious idea.

Reviews 5
olesov
34
olesov 2025.02.13 13:02 
 

Very useful indicator! Thanks to the author! I noticed one problem. If you enable the function "rectangle with region of pprice 161.8", sell signal shows correct target. But buy signal shows target like target of sell signal. Can you fix it?

Fx Nuggets
257
Bongani Lizwe Mthunzi 2023.11.07 21:45 
 

This is an awesome indicator Thanks. just maybe a few ideas l have sent directly to your inbox.

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Filter:
olesov
34
olesov 2025.02.13 13:02 
 

Very useful indicator! Thanks to the author! I noticed one problem. If you enable the function "rectangle with region of pprice 161.8", sell signal shows correct target. But buy signal shows target like target of sell signal. Can you fix it?

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dennisorina 2024.12.03 05:47 
 

Doesn't show signals in the live market. It misses some signals.

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Bongani Lizwe Mthunzi 2023.11.07 21:45 
 

This is an awesome indicator Thanks. just maybe a few ideas l have sent directly to your inbox.

smoki
45
smoki 2023.10.13 13:31 
 

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Anik Chandra Dey Sagor
640
Anik Chandra Dey Sagor 2023.10.10 22:02 
 

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