BB Engulfing mainly works with engulfing candle only in given conditions for BB and Support Resistance levels.
In an overall view its picks the peaks and bottoms fit to a given criteria and also indicates the trend continuation from stiff and newly made support and resistance levels.
Most of the times the dots made by the tool prove to be the strict SR zones and those levels remain untested.
The arrows never repaint or recount and never change positions upon reattaching.
On a period of 1 year the overall success rate is about 75% on H1 time frame which is recommended for the indicator.
Last word: As you give it a test you will find it much better then most of the expensive tools around.
- Show_ind_name: If you want to show the indicator name
- Ind_name: Indicator name as mentioned
- Band Period: 20 is default BB period
- Band Deviation: 2 Use the default value
- Price Band: Defines how the price will be applied ,Default is set to close.
- Pip Filter: defines the pip difference between engulfing candle and the previous candle
- Max Size: max candle size for engulfing candle
- upper tail: in sell signal the minimum upper tail size of round dot candle (3 is recommended )
- lower tail: in buy signal the minimum tail size of dot candle (3 is recommended )
- Dot Setting: you can set the color and size for the round dot which appears with arrow
- Arrow Setting: set the size and color for buy/sell arrow alerts
- Screen Alert: On screen sound alerts
- Mail Alert: option for mail alerts
- Mobile alerts: to receive push alerts on your phone