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Engulf Candle Pattern

Demo downloaded: 136

Published: 29 September 2017

Current version: 1.10

Engulf Candle Pattern

Indicators
Marco Concato
Version: 1.10
Updated: 3 October 2017
Activations: 5

Engulfing Candle Pattern Indicator that shows a potential zone for your trades. Often used for Supply/Demand and Support/Resistance Strategies!

Indicator Properties

Variables

Max Candles: Number of Candles you want to elaborate

Use "0" for All the candles in the chart

Engulfing Size: Size of the Engulfing Candle

Personally i use 2 or 3 for this setting.
This setting is based on the size of the engulfing candle, more specifically, shows only engulfing that are bigger X times of the smaller candle (smaller body candle * Value of Engulfing Size)
This setting allows the user to filter most of the small engulfing patterns happening in the chart

Pips Approximation: Value that helps the software detecting Patterns, keep it really low, 1-2 Pips max

I remember that software does NOT calculate AUTOMATICALLY digits of your broker, so set this value accordingly multiplying or dividing by 10

Colors for Bricks

Color Bullish Arrow/Zones
Color Bearish Arrow/Zones

Enable/Disable Features

Enable Zones: Enable drawing for Engulfing zones
Enable Arrows: Enable drawing for Arrows Above/Below Engulfing Candles

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