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ProEngulfing

4.5
Free version of ProEngulfing is QuallifiedEngulfing By One Signal Limitation per day and less features

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Introducing ProEngulfing – Your Professional Engulf Pattern Indicator for MT4 Unlock the power of precision with ProEngulfing, a cutting-edge indicator designed to identify and highlight qualified engulf patterns in the forex market. Developed for MetaTrader 4, ProEngulfing offers a meticulous approach to engulf pattern recognition, ensuring that you receive only the most reliable signals for your trading decisions

How ProEngulfing Works:

ProEngulfing operates through a sophisticated algorithm that goes beyond simple pattern recognition to analyze engulf patterns thoroughly. The indicator employs qualification criteria, evaluating the percentage of the body and shadow in relation to the entire candle size. This meticulous assessment ensures that only high-probability engulf patterns are highlighted. Additionally, ProEngulfing seeks continuity confirmation by identifying a sufficient number of continuous reverse bars preceding the engulf pattern, adding an extra layer of reliability. The indicator provides two-sided signals with In Direction and Reverse Direction modes, easily switchable using on-chart buttons. In Direction Mode displays engulf patterns on touch or retrace on the moving average line, while Reverse Direction Mode reveals bearish qualified engulf patterns occurring above the moving average by a specified distance, suggesting a potential market reversal. To enhance decision-making, ProEngulfing introduces a BackTest feature, allowing users to internally assess all generated arrows based on three different Risk-to-Reward ratios (RR). This feature provides a visual representation of win rates for each take profit level, streamlining the backtesting process.

Indicator Input Parameters:

    • Signal Mode: Choose between Both Mode, In Direction, or Reverse Direction.
    • Shadow Percentage: Set the percentage for the shadow in the engulf pattern.
    • Body Percentage: Determine the percentage of the body compared to the candle size.
    • After Number of Reverse Candle: Specify the number of consecutive reverse candles required before accepting an engulf pattern.
    • Stop Loss Margin: Set the stop loss margin for risk management.
    • Risk-to-Reward Ratios: Customize RR1, RR2, and RR3 for tailored risk management.
    • Atr Factor: Determine the minimum ATR distance factor for reverse signals.
    • Atr Period: Set the ATR period for volatility consideration.
    • Gravity Moving Average: Configure Moving Average settings, including period, applied price, and method.
    • Alert Settings: Enable or disable MT4 PopUp, Mobile, and Email alerts for timely notifications.

    FAQ

    How this indicator show patterns and entry signals ?

    Pro Engulfing fill bars by specific color , and draw up and down arrow to show you exact entry opportunity

    Is this indicator has repaint ?

    No there is no repaint in this product, all arrow will remain fix on chart, you can trust arrows.

    How our developer can detect signals and use them in Expert Advisor ?

    Very easy to use, buy and sell signals specified by 2 buffers,.

    Buy buffer number is 0 _ MQL Code to achieve this buffer is : double ProEngulfBuy = iCustom(Symbol(),PERIOD_CURRENT,"Market//ProEngulf.ex4",0,1);
    Sell buffer number is 1 _ MQL Code to achieve this buffer is : double ProEngulfSell = iCustom(Symbol(),PERIOD_CURRENT,"Market//ProEngulf.ex4",1,1);

    Do you have an idea and want to build your own product for mql5 market ?

    If yes, i can be your consultant and developer , i ll guide you how to improve your idea and release it in mql5 market, click on below link and hire me.

    https://www.mql5.com/en/job/new?prefered=ashkan.nikrou





    Reviews 2
    Aravind Kolanupaka
    8935
    Aravind Kolanupaka 2020.08.18 03:54 
     

    Very good with inbuilt trend filter.

    Fxpro Trader Technical
    1091
    Fxpro Trader Technical 2024.02.27 14:35 
     

    Seller finally responded which may take sometime so you need to be patience, indicator was ok, however there is deifnately room for improvement for example take profit price and levels which can be implemented along with SR zone for further confirmation to take the trade. Hoping to see further development and more quality work done to this indicator in the near future

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    Filter:
    Fxpro Trader Technical
    1091
    Fxpro Trader Technical 2024.02.27 14:35 
     

    Seller finally responded which may take sometime so you need to be patience, indicator was ok, however there is deifnately room for improvement for example take profit price and levels which can be implemented along with SR zone for further confirmation to take the trade. Hoping to see further development and more quality work done to this indicator in the near future

    Ashkan Hazegh Nikrou
    31036
    Reply from developer Ashkan Hazegh Nikrou 2024.03.01 13:54
    Hi sir, sorry for delay, i was on high working demand, seems you couldn't run indicator , just follow our description, as soon as run indictor, you need to see the arrows and buttons, i will send more help and guide in private for you.
    Aravind Kolanupaka
    8935
    Aravind Kolanupaka 2020.08.18 03:54 
     

    Very good with inbuilt trend filter.

    Ashkan Hazegh Nikrou
    31036
    Reply from developer Ashkan Hazegh Nikrou 2024.03.01 13:54
    Really appreciate for your + energy
    Reply to review
    Version 1.50 2023.11.13
    Introducing ProEngulfing 1.50 - Now with Internal Backtesting!

    🚀 Upgrade Alert! We're excited to unveil ProEngulfing version 1.50, packed with a powerful new feature: Internal Backtesting.

    📊 New Feature Highlights:
    ✨ Backtest on Chart: Explore the historical performance of your signals with a single click! Our new "Backtest on Chart" button allows you to instantly view win rates for signals in three distinct lines, each representing a different Risk-to-Reward Ratio.

    🔧 Bug Fixes and Enhancements: We've also addressed minor issues to ensure a smoother and more reliable user experience.

    Upgrade to ProEngulfing 1.50 now and take advantage of the new Internal Backtesting feature to fine-tune your trading strategy with ease! 📈✨
    Version 1.49 2023.11.11
    Introducing ProEngulfing 1.49 – Elevating Precision in Trading

    🚀 Upgrade Alert! We're thrilled to unveil the latest ProEngulfing 1.49 – a refined version of our powerful indicator designed for MQL5 market enthusiasts.

    🌟 What's New in 1.49:
    ✨ Simplified Inputs: We've streamlined the user experience, making it easier than ever to navigate and customize your trading preferences.

    ✨ Engulfing Signals: Now, witness the market dynamics with enhanced clarity! ProEngulfing 1.49 introduces the ability to display engulf signals in both the prevailing direction and its reverse, offering a comprehensive view of potential trading opportunities.

    ✨ Toggle Signals on the Fly: Introducing two intuitive buttons for instant signal control. With a simple click, enable or disable signals in the current direction or during reversals, empowering you with unprecedented flexibility.

    ✨ Advanced Signal Qualification: Dive deeper into market movements with ProEngulfing's refined algorithm. Identify qualified engulf patterns based on the Gravity Moving Average, ensuring a reliable confirmation of price retracement at critical moments.

    ✨ In-Direct or Retrace Signals: Seamlessly receive buy signals when the moving average ascends, and the price touches the moving line – and vice versa for sell signals. ProEngulfing 1.49 guides you through strategic entry points with precision.

    ✨ Reverse Mode: Engulfing signals now come with added criteria for precision. Ensure adequate space from the Gravity Moving Average for sell signals, verifying their authenticity based on ATR factors. The result? Confirmed signals for more informed trading decisions.

    ✨ Refined Take Profit Strategies: Enjoy simplicity with ProEngulfing's three different take-profit levels, intelligently designed based on Risk-Reward ratios. Maximize your gains effortlessly.

    In ProEngulfing 1.49, we've seamlessly merged simplicity with sophistication. Elevate your trading experience today and capitalize on the dynamic changes in the market. Download the update now and embark on a journey of enhanced precision and profitability! 📈✨
    Version 1.48 2020.11.06
    1.New parameter added to allow you adjust minimum body % for each candle separately, this change improved win%
    Version 1.47 2020.10.25
    1. Logic improved to reach better result
    2. Some use full statistic information added on screen can help trader to understand how much was indicator win %
    Version 1.46 2020.09.29
    1. Shadow Confirmation Rule added, its useful rule can help us to reach more accurate engulfing signals
    2. 3 Risk To Reward parameters added
    3. We reached better win rate% in this version.
    Version 1.45 2020.08.30
    1. Graphic Design Improved
    2. ATR Multiplier added as double factor to determine better distance from moving
    3. M5 Time frame setting adjusted as default setting.
    Version 1.44 2020.08.17
    Advance Engulf QC Method added.
    This method work base on moving average and atr indicators.
    This is power full method and increased win% to 90%
    Version 1.43 2020.08.13
    Graphic design improved
    Engulf qualification formula improved
    Version 1.42 2020.08.08
    Graphic Design Improved, Beauty Gradient Background Added In 3 Template Mode

    Red Temp , Blue Temp , Green Temp
    Version 1.41 2020.08.08
    Graphic Design Improved
    Stop Loss And RR (Risk Reward Factor) Added
    Indicator will show you exist points (by line and value) according to stop loss and RR and determine profit or loss of this trade
    Version 1.4 2020.08.07
    Technical issue for testing in strategy tester has been fixed , and graphic design improved
    Version 1.3 2020.07.28
    Graphic Design Improved
    User Can Adjust Gradient Background Template
    Version 1.2 2020.07.28
    Graphic Design Improved
    Today High,Low,Close And Open Price label added
    Version 1.1 2020.07.28
    Graphic Design Improved
    Today High,Low,Close And Open Price line added
    3 Different Alert Type(PopUp,Notification,Email Added)