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    cTrader Engulfing Candlestick Pattern Detector


    14-Day Refund Option (Read Policy) - Pay Once, Use Forever

    This bullish & bearish engulfing candlestick pattern detection software provides a powerful trading tool for identifying trend reversals. The trader is alerted via a pop-up window, email, telegram bot or SMS text message when an engulfing candle has formed.
    Type: cTrader Indicator
    Current version: 1.0.0
    Requires: Windows 10
    Published: 29 December 2018
    Page last updated: 05 May 2021

    Any questions?  Join our Live Chat Support  and read our Licensing Terms

    £6.99

     

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    All Forex traders come across the Price Action at some point and this is not a mere chart analysis technique but the entire system for defining the possible future price movement direction. The Engulfing pattern is when the body and shadows of a bar completely engulf the body and shadows of the previous bar.

     

    There are two types of patterns the software detects

     

    Bullish-and-Bearish-Engulfing-Bar-Patterns-cTrader

    What Is an Engulfing Candlestick Pattern?

    A bullish engulfing pattern is characterized by a bullish candle whose body, the open and close engulfs the previous candle's body. Conversely, a bearish engulfing pattern is characterized by a bearish candle whose body engulfs the previous candle's body.

     

    cTrader Engulfing Pattern on the chart

     This chart shot was taken from cTrader using the Engulfing Pattern Detection Indicator.

     

    Rules of the Engulfing Pattern

    • It is required to operate with this pattern on higher timeframes: H4, D1.
    • For more refined entry, additional elements of graphical analysis should be applied, such as trendlines, support/resistance levels, Fibonacci levels, other Price Action patterns, etc.
    • Use pending orders to avoid premature or false market entries.
    • Patterns repeated in flat trading should not be used as a signal for entering the market.
     

     Example Trade Setup for a Bearish Engulfing Pattern

     The image below shows a classic example of price reversal with a bullish or bearish engulfing candle pattern, the success rate is higher when the candle is formed as it enters a resistance zone. This indicator can be used with the cTrader Support & Resistance Indicator.
    cTrader Engulfing Pattern Entry

    Learn How To Trade Using Engulfing Candlestick Patterns

    We do not just provide customers with an indicator to download we also provide educational material to learn how to trade using candlestick patterns.

     

    What Kind of Alerts Are There?

     This indicator has 4 different types of alerts to help the trader which is a simple pop-up message on your desktop to an Email, Telegram Bot and SMS text message. The last two provide instant messages so you get informed within seconds of the candle forming.

     

     cTrader Pin Bar Instant Alerts

     

    HOW TO CONFIGURE AND SET-UP YOUR ALERTS

    We provide full support and educational material to help you set-up your email, telegram bot and SMS text message accounts so you can start receiving your alerts as soon as possible. There is also a free tool you can use to test that your settings are correct and to help you if you need it.

     
     

    POP-UP WINDOW MESSAGE

    This indicator will also display the classic pop-up window when an alert occurs.

    cTrader Bullish Engulfing Pattern Alert

     

    Watch a Video Demonstration

    The video has been uploaded to 1080p High Quality, so do not forget to set your U-Tube video quality to 1080p HD. 

    Duration: 12 minutes

     

    cTrader Engulfing Candlestick Video

     

    How To Install

    First, make sure you have the cTrader trading platform installed and then simply unzip the file and double-click on it to automatically install onto the platform.

     

    Instant Chat Support

    If you want a speedy reply to your questions just post your questions on our Telegram chat group.