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Engulfing Candle Indicator

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Published: 10 June 2023

Current version: 2.10

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Overview
Reviews (7)
Comments (9)
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Engulfing Candle Indicator

Name: Engulfing Candle Indicator
Rating: 3.2 (5 reviews)
Author: Chioma Obunadike

3.2

Indicators
Chioma Obunadike
Version: 2.10
Updated: 6 December 2023

This Engulfing Candle Indicator as the name implies can detect engulfing candlestick patterns on the chart. The indicator alerts the user of the presence of an engulfing candle (Bearish engulfing candle and Bullish engulfing candle) by using visual representation of arrows on the chart.

- Blue arrow for Bullish engulfing

- Red arrow for Bearish engulfing

Extra modifications can be added based on request.

more...

smoki 2023.11.03 10:36 #

Nice!

QRESPO 2024.08.13 14:26 #

Great One from my Compatriot.

hasan sajjad 2024.12.14 14:48 #

it shows the arrow a bit late other than its pretty solid

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It identifies fair value gaps which are currently valid. Settings: Bullish FVG Color: To set the color of bearish FVGs. Bearish FVG Color: To set the color of bearish FVGs. Minimum Size: For filtering the signals. The restricts a minimum size for the FVG to be considered valid. For custom additions you can reach out to developer here MT5 Version available here

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The Inside bar indicator can detect where inside bars occur in the charts and will change the color of the candle based on user inputs. Please note that the color can differ based on the current color of the candle due to supposition of the colors. Here are the characteristics of an inside bar pattern: High: The high of the bearish candle is lower than the high of the previous bullish candle. Low: The low of the bearish candle is higher than the low of the previous bullish candle. Body: The bo

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Filter:

283

nunovski 2025.01.19 22:37 #

Isn't trustworthy

18665

Reply from developer Chioma Obunadike 2025.01.23 08:58 #

Why don’t you code and publish your own free indicators?

hasan sajjad 2024.12.14 14:48 #

it shows the arrow a bit late other than its pretty solid

150

dennisorina 2024.12.04 09:00 #

doesn't show all the signals.

150

Hassan Mansoor Javed 2024.11.14 20:37 #

User didn't leave any comment to the rating

113750

Francisco Gomes Da Silva 2024.09.02 21:07 #

User didn't leave any comment to the rating

QRESPO 2024.08.13 14:26 #

Great One from my Compatriot.

smoki 2023.11.03 10:36 #

Nice!

Version 2.10 2023.12.06

Added Alerts for The Engulfing Candles

Optional Alerts can be turned on and off

- Email Notification: Sends an alert or notification to a designated email address.

- Play Sound: Triggers an audible alert or sound on the platform or device running the trading software.

- Native Alert: Shows an on-screen alert or popup within the trading platform.

- Push Notifications: Sends notifications to mobile devices through dedicated apps or services.

Version 2.0 2023.10.19

- Added the following user inputs:

1. Arrow Size
2. Arrow Distance
3. Custom Arrow Up colour
4. Custom Arrow Dn colour

- Improved the logic of the code to fit the perfect description of an engulfing candle:

Bullish Engulfing Candle: The first candle is a bearish (downward) candle, followed by a larger bullish (upward) candle that completely engulfs the previous candle's body.

Bearish Engulfing Candle: The first candle is a bullish (upward) candle, followed by a larger bearish (downward) candle that completely engulfs the previous candle's body.