Engulfing Failed Zone by RWBTradeLab
- Göstergeler
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Md Hasibul Kabir
Founder & Developer at RWBTradeLab.
I develop high-quality trading indicators, expert advisors (EAs),
and utility tools for MetaTrader 5.
My work focuses on precise calculations, non-repainting logic,
and clear visual market structure. - Sürüm: 1.0
Engulfing Failed Zone by RWBTradeLab
A clean, non-repainting FAILED engulfing detector for MetaTrader 5. Most traders only look for engulfing patterns — professionals also watch what happens when an engulfing FAILS, because a broken pattern traps traders on the wrong side and often fuels the opposite move. This indicator finds those failures automatically — all from CLOSED candles only.
What This Indicator Does
Step 1 — Engulfing Detection (internal engine)
The indicator first detects confirmed engulfing patterns by CLOSE (wicks alone don't count):
- Regular Engulfing (2 candles): the very next candle closes beyond the base candle's high/low
- E-Regular Engulfing (multi-candle): a run of same-color candles after the base (Dojis skipped, an opposite candle cancels); the engulfing close happens on the 2nd or later candle of the run
- A Regular pattern on the same base takes precedence over E-Regular
Step 2 — Failure Detection (the actual signal)
After a pattern is confirmed, the indicator watches what price does next:
- Buy EG Failed: after a confirmed Buy Engulfing, a Red candle CLOSES below the base candle's low — the bullish absorption is broken
- Sell EG Failed: after a confirmed Sell Engulfing, a Green candle CLOSES above the base candle's high — the bearish absorption is broken
The EARLIEST failure candle is used, and the failed zone is drawn from the base candle to that failure candle.
Key Features
Professional Chart Display
- Every failed pattern is drawn as a ZONE BOX from the base candle to the failure candle, covering the base candle's full high-low range
- Boxes are drawn BEHIND the candles — price action always stays readable
- Clear text labels: "Buy EG Failed" below the zone, "Sell EG Failed" above the zone
- Separate Buy/Sell box colors + label colors — fully adjustable
- Label distance scales with the base candle's height (percentage based)
Non-Repainting Engine
- All patterns and failures are calculated on CLOSED candles only — no running-candle logic
- Zones are rescanned once per new bar, not on every tick (zero terminal lag)
- Automatic object cleanup — remove the indicator and the chart is spotless
Chart = Alerts, Always
- Drawing and alerts share the SAME detection rules
- An alert fires exactly when the failure candle closes — once per event, never repeated
- Whatever fires an alert is exactly what you see on the chart
Alerts (bar-close only, off by default)
- 2 alert types: Buy EG Failed and Sell EG Failed — each with its own On/Off switch
- 3 delivery channels: Popup, Push Notification, Email
- Every alert message includes event, price, symbol, timeframe and time
Inputs
- Candle Length (closed candles) — how many recent closed candles are scanned (default 50)
- Show/Hide toggles: Buy Engulfing Failed, Sell Engulfing Failed, Text Labels
- Buy/Sell box colors + label text colors
- Text Offset from Box (% of base candle height, min 20)
- Label font and font size
- Full Alerts group: master switch, Popup / Push / Email, per-type switches
How to Use
Attach the indicator to any symbol and any timeframe — forex, gold, indices, crypto. A Buy EG Failed zone means bulls tried to take control and got rejected — trapped buyers above often accelerate the move down, and the zone itself can act as resistance. A Sell EG Failed zone is the mirror: trapped sellers and potential support. Failed zones pair perfectly with the RWBTradeLab Engulfing Detector — one shows the pattern, the other shows its fate. For best results combine with higher-timeframe structure and your own trade plan.
Important Notes
- Push notifications require your MetaQuotes ID in MT5 (Tools -> Options -> Notifications); email alerts require SMTP settings
- Alerts work while the terminal is running
- Default box colors are tuned for dark charts — all colors are fully adjustable for light themes
- This indicator is a pattern-analysis tool, not financial advice. Trading involves risk — always use proper risk management
Creator: RWBTradeLab
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