Ultimate Engulfing Scanner Multi Pair MTF
This indicator has been designed to find the strongest engulfing patterns in the forex market.
- An engulfing pattern is very simple to trade, without the need for any complicated analysis.
- This patterns provides an excellent risk and reward ratio. Because your potential wins will
always be considerably larger than your potential losses. And this is CRITICAL to your long term
- You have the highest probability of success when you this pattern occurs at the end of an extended trend.
And this is why we have put two separate filters into this indicator. So that you don't waste your valuable
time with meaningless alerts.
IMPORTANT FACTORS TO KEEP IN MIND:
Nothing is more important than price action.
A strong engulfing candle at the end of a trend is a clear indication that the institutions have flipped.
If it happens at the end of an uptrend, it means that the institutional bears are now in charge.
And if it happens at the end of a downtrend, it means that the institutional bulls are now in charge.
- This indicator can monitor all 28 pairs at the same time.
- It can monitor every timeframe, from 1 Minute to Monthly. All at the same time.
- It will automatically trigger an alert whenever the appropriate pattern is identified.
- It can monitor any symbol in your Metatrader platform. Including crypto, commodities, indices, equities, ETF's etc.
- It uses two filters (RSI and Consecutive Candles) in order to catch the patterns at the end of a trend.
- This indicator only needs to be placed on one chart and it will simultaneously monitor the entire market, all on one screen.
This will save you an enormous amount of time and effort. As you won't have to flip through dozens of charts for analysis.
And this will allow you to focus on other aspects of your trading. Such as further technical (or fundamental analysis).
This will also give you more time to find other trading opportunities.
- Symbols: The indicator monitors the top 28 pairs by default, but you can select less pairs if you wish.
- Use RSI Filter: True = Yes, False = No
- RSI Period: Setting for RSI filter
- RSI Up Level: Overbought level for RSI filter. Bearish engulfing candle must form above this level in order to be valid.
- RSI Down Level: Oversold level for RSI filter. Bullish engulfing candle must form below this level in order to be valid.
- Use Consecutive Filter: True = Yes, False = No
- Consecutive Candles: Will look for the engulfing candle after "X" number of consecutive candles.
If you select "5", it will look for an engulfing candle after 5 consecutive candles of the opposite color.
Therefore, if there are 5 consecutive down candles and then there is a bullish engulfing candle, it will trigger an alert.
You have the option of using both filters if you wish. Or only one of them. Or none.
It is completely up to you.
See the images below for further details and contact us if you have any questions.
HUNDREDS OF 5 STAR REVIEWS AND OVER TWO DECADES OF REAL WORLD MARKET EXPERIENCE:
This indicator has been created by a former hedge-fund employee, with almost 25 years
of market experience. And our company has been selling high quality indicators on this
platform since 2015.
Over the years we have helped THOUSANDS of satisfied clients and we have received
HUNDREDS of 5 star reviews.
And we are proud to say that all of our reviews are 100% GENUINE.
With absolutely no client manipulation, or questionable tactics of any kind.
For further details regarding our background, we STRONGLY RECOMMEND that you take a look
at our profile. In order to get a better understanding of our overall trading experience and our
approach to the market.