Engulfing Bar Alert Indicator (MT4)

The Engulfing Bar Alert indicator for Metatrader 4 scans for bullish & bearish engulfing trading patterns and shows them on the chart.

The patterns appears in the form of blue and magenta colored signal arrows.

The indicator is versatile and can be used in multiple ways.

Key Points

Free Download

Indicator Example Chart

The EUR/USD H1 chart below shows the Engulfing Bar Alert indicator in action.

Basic Trading Signals

Signals from the Engulfing Bar Alert Forex indicator for Metatrader 4 are easy to interpret and goes as follows:

BUY:

A new buy signal is generated when the blue signal arrow appears on the chart and the underlying trend is moving upwards.
Set a stop loss below technical support.
Exit the buy trade for at least 10 pips profit.

SELL:

A new sell signal is generated when the magenta signal arrow appears on the chart and the underlying trend is moving downwards.
Set a stop loss above technical resistance.
Exit the sell trade for at least 10 pips profit.

Download This Forex Indicator

Adjustable Parameters & Settings

Use bull engulfing? use bear engulfing, alerts, colors, width, style.

Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.

More Info About This Indicator

Supported currency pairs: Any

Trading Platform: Metatrader 4 (MT4)

Time Frames: M1, M5, M15, M30, H1, H4, D1, W1

Indicator Type: Candlestick pattern

How to install the Engulfing Bar Alert indicator in Metatrader 4?

Copy and paste the engulfing-bar-alert-indicator.ex4 indicator into the MQL4 indicators folder.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)

How to remove the indicator from the chart?