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Engulfing Bar Indicator

The Engulfing Bar indicator identifies any bar that engulfs the bar just prior to it. That means the high and low of the engulfing bar itself will always, as a rule, extend beyond the highs and lows of the bar prior to it. This indicator will alert on the chart the two types of engulfing candles, a bullish engulfing candle, and a bearish engulfing candle.

How to trade the indicator:

A bullish engulfing candle occurs when the “fat” part of an Up candle completely envelops a prior down candle. This is an indication of an uptrend continuation or a potential reversal of a downtrend. Similarly, a bearish engulfing candle occurs when the “fat” part of a Down candle completely envelopes a prior Up candle. This indicates a downtrend continuation or a potential reversal of an uptrend.

This is a MetaTrader 4 (MT4) indicator and works with all currency pairs and all timeframes. Once you download and install the indicator, it will appear in your trading chart, like the image shown above.

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