Indicators: Engulfing

Engulfings Indicator

Locate Engulfings !

The bullish Engulfing is a pattern of two candlesticks. The first is a red bearish candlestick which is followed by a long green bullish candlestick. This one must have a body that encloses the previous one. When the bullish Engulfing forms in a bearish trend it indicates a change in market psychology and thus marks a probability of a bullish reversal. A rise in volumes on the second candlestick will give more strength to the signal, as will a second candlestick that encloses the first candle wicks inclusive.

On the opposite, the bearish Engulfing is a pattern of two candlesticks. The first is a green bullish candlestick which is followed by a long red bearish candlestick. This one must have a body that encloses the previous one. When the bearish Engulfing forms in an bullish trend it indicates a change in market psychology and thus marks a probability of a bearish reversal. A rise in volumes on the second candlestick will give more strength to the signal, as will a second candle that encloses the first candle wicks inclusive.

Description

The indicator makes it possible to visualize all the Engulfings on the graphs by indicating these by a green arrow under the bullish Engulfing, and a red arrow above the bearish Engulfing.

Many different parameters are adjustable to display the Engulfings that meet your criteria. All these settings are made without having to modify the code, in a very simple way in the configuration menu of the indicator.

Adjustable validation criteria :

• Bearish / bullish trend before the Engulfing,
• Volume increase on second candle.

Available filters :

• Bullish Engulfings,
• Bearish Engulfings,
• Wicks included in the Engulfing,
• Confirmation candle.

Video user guide (english subtitles available) :

Details of available settings :

Download guide

Characteristics

• Works on all TimeFrames
• ProRealTime V11 and later versions compatible,
• Free ProRealTime (daily closings) compatible,
• Automatic and free updates for life.

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Disclaimer

Our proposed tools (indicators and screeners) are not investment advices but tools allowing everyone to find specific graphic configurations.
Investing in the financial markets involves risks up to and including the total loss of capital.
The user of the proposed tools understands and accepts that the use of these tools is under his sole and entire responsibility. P2C Trading declines all responsibility in the use of the tools and the consequences that would result.