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    cTrader Engulfing Candlestick Pattern Detector


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    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, or telegram message when an engulfing candle has formed.
    (OS) Type: Windows & macOS Compatible
    Current version: 1.2.0
    Updated: Thursday, 16 May 2024
    Author: ClickAlgo Team

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    $177.32 Incl. VAT.
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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 a 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.

     

    Telegram Alerts

    When a signal happens for a trend reversal, the indicator will send a Telegram alert directly to your PC or mobile device, this is much faster than email as it is a push notification.

     
     

    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 YouTube video quality to 1080p HD. 

    Duration: 12 minutes

     

    cTrader Engulfing Candlestick Video

     

    How To Install & Remove

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

     

    Any Questions?

    If you have any questions or bugs, please first search our product help forum for the answer, if you cannot find it, post a new question.

     

    Need a Broker

    If you are still looking for a broker you can trust, look at our best cTrader broker site.