What is Engulfing?
Engulfing is an MT4 indicator that detects the engulfing candlestick pattern and marks each one on the chart with an arrow. The pattern is two candles, where the body of the second candle from open to close completely covers the body of the first.
How to use Engulfing
A blue up arrow and a red down arrow appear when one candle body completely covers the body of the candle before it. The blue arrow marks the bullish engulfing case and the red arrow marks the bearish one, and the arrows are drawn small by default and can be enlarged from the parameters.
Where it helps
MT4 Indicator Parameters
The table below lists the available MT4 indicator parameters. You can customize these options in the MetaTrader Inputs dialog to match your trading preferences.
| Parameter | Description |
|---|---|
| AlertON | Turns the alert on or off. |
| colorBulls | Sets the arrow color used for the bullish engulfing case. |
| colorBears | Sets the arrow color used for the bearish engulfing case. |
| DrawCandle | Controls whether the engulfing candles are drawn as candles. |
The screenshot above shows the default input parameters in the MT4 settings window.
How to Install .ex4 Indicator in MetaTrader 4
- Download the ZIP file and extract it.
- In MT4, select File → Open Data Folder.
- Open MQL4 → Indicators and copy the EX4 or MQ4 file into it.
- If the package includes library files, copy them to MQL4 → Libraries. Copy TPL files to the top-level templates folder.
- Restart MT4, find the indicator in the Navigator, and drag it onto a chart.
Test the tool on a demo account first. File contents and required folders can vary between packages.
