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Engulfing Trend Entry
Source: https://fxcodebase.com/code/viewtopic.php?f=17&t=76228
Forum: 17 · Topic 76228 · 1 post(s)
Engulfing Trend Entry
Apprentice · Sun Aug 10, 2025 2:18 pm
This indicator identifies bullish and bearish engulfing patterns aligned with the prevailing trend, determined by two customizable moving averages (MA1 and MA2). You can choose the period and method (EMA or SMA) for each moving average.
When an engulfing pattern appears in the direction of the trend and closes beyond the fast MA, the indicator plots a buy or sell signal with corresponding stop-loss (SL) and take-profit (TP) levels based on a user-defined risk-to-reward (RR) ratio.
Key features: Customizable MA periods and types (EMA/SMA) Adjustable risk-to-reward ratio Clear on-chart buy/sell markers with SL/TP points Works on any timeframe and instrument
Notes for Achieving ≥50% Win Rate Works best on higher timeframes (M15–H1) and instruments with a clear trend. Avoid ranging sessions (add a filter, e.g., ATR > SMA(ATR)).