Bearish Engulfing

New Release!

Introduction and Description

The indicator displays an arrow whenever a "Bearish Engulfing" is detected. The latter usually indicates the beginning of a downward trend. A bearish engulfing pattern is a technical chart pattern that signals lower prices to come. The pattern consists of an up candlestick followed by a large down candlestick that eclipses or "engulfs" the smaller up candle. The pattern can be important because it shows sellers have overtaken the buyers and are pushing the price more aggressively down (down candle) than the buyers were able to push it up (up candle). The indicator does not take into consideration the current trend, and is only based on the candlesticks pattern.

The color, size and type of the arrow can be selected in the inputs.

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Contact

Any contact can be made using MQL Market DMs. Commercial partnerships as well. Account management services are also available.