Engulfing Bars

Indicator displays Engulfing Bars absorbing bars (Engulfing Bars), a signal as well as the proposed stop-loss and take profit. Absorbing bars are an important pattern of price action. The price action of the absorbing bar completely covers the price action of the previous bar.

Absorbing bars are most commonly used on higher timeframes.

settings

Tuning indicator Engulfing Bars defaults are effective most of the time. You can customize them based on their needs.

• Show Engulfing Bars - Set to true to display the absorbing bars.


• Body size percentage - The minimum size of the body absorbing bars as a percentage of the moving average body size, the higher the value is smaller, but (probably) better absorbing bars.


• Stoploss distance in pips - Standard stop-loss is at a maximum or minimum absorbing bar, the number of pips is added thereto, the here.


• Color Palette - choose a color palette for dark or light background.


• Colo (u) rs - The color settings.


• Show Alerts - If true, alerts are performed.


• Show Screen Alerts - true value of the alert includes displaying on the screen.


• email Alerts - If true, alerts are sent via e-mail.


• Push Alert Notifications - If true, alerts are sent in the form of push-notifications.

Features

Engulfing Bars does not require much processing power.

If you have questions, contact me. Opinions, suggestions are also welcome. Only with your help I can create more effective tools for MT4.