Forex Pro Engulfing MT4 Indicator:
About the Forex Pro Engulfing MT4 Indicator
Are you searching to find the best engulfing indicator, its here, i made pro engulfing to show power of this pattern in Forex market,
You have ability to do some custom setting like that last candles direction, body and shadow % of engulf candle and some useful settings.
This indicator has money management , and can guide you by draw stop loss and 3 different take profits on chart.
BEST PAIRS AND TIME FRAME :
All Pairs, D1 is nice , you can reach around nice win% by risk to reward 1
watch this video and learn how engulfing pattern work ?
LATEST PRODUCT NEWS :
FINAL PRICE OF THIS PRODUCT WILL BE 99$
CURRENT VERSION IS : V4.7, THIS INDICATOR WILL UPDATE CONTINUOUSLY
Last Update Info :
Advanced Engulfing QC method added to filter bad signals and increased win chance, we reached more than 90% win% by this new quality check method.
New QC Method work according to moving and Atr indicator according to below sequence :
Determine distance between close of engulf candle and moving average value
Compare it by Atr value * ATRmultiplier
If Comparison result be true, it means right now is good time for change direction and our engulf can be right signal
Professional Engulfing Version 4.4 Indicator Instruction :
Pro Engulfing indicator is price action indicator can detect qualified engulfing bars and show them by arrow and fill colored bars, this indicator try to filter wrong engulf patterns.
As you know engulfing pattern is one of the most popular price action patterns, most of traders use this pattern, look at your chart, you can find some engulf bars, but just part of them are correct, others are fake and wrong signals.
I tried to find qualified engulfing bars, and filter wrong signals, Pro Engulfing indicator use 3 method to check pattern quality, these ,methods are
1. Check body percent of bars
2. Look at previous market movement, to make sure market has enough potential to move in engulfing pattern direction
3. Determine current trend direction and filter bad signals
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);
Whats important and effective input parameters ?
Body Percent : By this parameter you can adjust how many percent of candle must be contain body
Last needed continues bars : By this parameter you can adjust how many bars must be previous movement to confirmed engulf pattern quality
Moving Average Filter Enable : By this parameter you can turn on or off moving average filter
Moving Average Period : By this parameter you can adjust MA period
Moving Average Method : By this parameter you can adjust MA Method in drop down menu
Moving Average Applied Price : By this parameter you can adjust MA applied price in drop down menu
Price action strategies work according to market price movement without more calculation, i believe that they are pure strategies, between price action methods engulfing is one of most powerful, popular and simple method,
Just you need to check engulf pattern quality, this pattern ll formed every day, i recommend to test this indicator.
Copy and paste the file into the MQL4 Indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)