Engulfing Pattern Indicator MT4
Free bullish/bearish engulfing detector | Alerts | MT4
About Engulfing Pattern Indicator MT4
The Engulfing Pattern Indicator for MetaTrader 4 is a free indicator that detects Bullish Engulfing and Bearish Engulfing candlestick patterns in real time. Engulfing patterns are among the most reliable and widely watched reversal signals in candlestick analysis: a Bullish Engulfing forms when a large green candle completely engulfs the previous red candle (potential bottom/reversal up), while a Bearish Engulfing forms when a large red candle engulfs the previous green candle (potential top/reversal down). The indicator displays visual alerts on the chart at every detected pattern and provides alert notifications so you never miss an engulfing setup.
- Platform: MetaTrader 4
- Price: Free (MQL5 Market)
- Patterns: Bullish Engulfing + Bearish Engulfing
- Signal: Reversal — Bullish Engulfing = buy potential, Bearish Engulfing = sell potential
- Alerts: On-chart visual + MT4 alert notifications
- Source: mql5.com/en/market/product/122771
Key Features
✓ Completely free — available on the MQL5 Market
✓ Detects both bullish and bearish engulfing patterns automatically
✓ Real-time alerts — notified immediately when pattern forms on current candle
✓ Works on all timeframes and all pairs — not pair-specific
⚠ This is an indicator — not an automated trading EA; signals require manual confirmation
⚠ Engulfing patterns are more significant at key support/resistance levels — always verify context