Engulfing Candle Stick Pattern Price Action Arrows and Scanner Dashboard (MT4)

The strategy looks for engulfing candlestick patterns.

Product page for Arrows:
https://abiroid.com/product/en....gulfing-candles-pric
or
https://www.mql5.com/en/market/product/78367

#abiroid #candlestickpattern #mt4 #metatrader4

Scanner:
https://abiroid.com/product/en....gulfing-candles-pric

Features:
Find these engulfing patterns:

- Simple Engulf
- Stick Sandwich Engulf
- Three Line Strike
- Rising Three
- Morning Star Doji

Use these to validate Signal:
- NRTR Shadow
- SSL Current and HTF Trend
- High Volume Bars

Scanner is useful to make your strategy better. 

1. Simple Engulfing Pattern:
Pattern detected when a bullish candle engulfs a bearish candle.
Suppose "First:Last Candle Ratio" is 0.8
And that 1st bearish candle height is at least 0.8 ratio of the longer bullish candle. If this ratio is high, it will give fewer signals.
Keeping it low like 0.4 will give more signals.
Same, but vice versa for bearish engulfing.

2. Sandwich Engulfing Pattern:
Similar to above pattern.
Bullish: the starting candle should be Bullish, then bearish. Then again an engulfing bullish.
Here, the First candle ratio will be checked between the middle bearish and last engulfing bullish candle.

3. Three Line Strike Engulfing Pattern:
Bullish: This pattern will look for 3 continuous bearish candles and then one Bullish candle.
Same for bearish, it will look for 3 continuous bullish candles (called 3 soldiers). And then one bearish candle.
If "Engulf All Soldiers" is true, then the last candle should engulf all the previous 3 opposite candles.

If "Rising Three" is true, then it will check for a bullish bar first, then 3 bearish bars, then finally a bullish engulfing bar again like this:
The 3-line strike pattern, only shows possible S/R areas.
And then it is best to wait to see if price crosses the 3-line strike engulfing bar above/below. Because sometimes, after a Bullish 3 line strike, price might breakout and go down instead of up.

So, be careful and wait for a powerful breakout after this pattern. Preferably with a strong volume candle breaking out.

4. Morning/Evening Star Doji Pattern:
It's pretty clear from image above. Bearish candle, then doji and then bullish engulfing candle.
Doji can be bullish or bearish. But it's height should be less than "Max Doji Height" defined in points.

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