Engulf Auto Trader
The Engulfingl auto entry was originally designed to work with NinZaRenko bars. However, it will work similarly on any Uni-Renko style chart.
▸ Show Engulf Button:
⤷ This will open the Engulf Auto Entry options so that they can be configured.
⤷ You will see an ‘Engulf’ box on the top right hand corner of your chart when the Predator is enabled.
⚡ Trade Engulfing Bars ⚡:
⤷ This option will activate the Engulfing Auto Entries. Orders will be places when they are detected.
⤷ White Engulf Box on your chart = ON. Will place trades when an Engulfing pattern is detected.
⤷ Transparent Engulf Box on your chart = OFF. Will not place trades when an Engulfing pattern is detected.
Engulfing Auto Trader Setup Video:
Engulfing Bar Tick Offset:
⤷ This function is used to customize how much of a pullback is required before a bar is considered an Engulfing candle.
Bullish Engulfing Offset:
⤷ Offset 0 → The Low of the engulfing must have reached the Low of the previous candle.
⤷ Offset 1 → The Low of the engulfing must be 1 tick BELOW the Low of the previous candle.
Bearish Engulfing Offset:
⤷ Offset 0 → The High of the engulfing must have reached the High of the previous candle.
⤷ Offset 1 → The High of the engulfing must be 1 tick ABOVE the High of the previous candle.
Bars Since Reversal:
⤷ This functions helps us define how many bars since the last reversal our Engulfing candle can be valid.
⤷ Use this if you only want to trade Engulfing candles that happen shortly after a Reversal.
⤷ In the example below with a value of 10. Only the colored engulf is valid because it happened within ’10’ candles since the Reversal.
Enter Engulf Break:
⤷ This functions is used to define where we want to enter a trade once an Engulfing candle is formed.
⤷ With it enabled. The price must go above a bullish engulf in order to enter Long or below a bearish engulf in order to enter Short.
⤷ Disabled means that it will enter immediately when the engulfing bar closes and a new bar opens.
Color Engulfing Bars:
⤷ This is used to color your Bullish and Bearish Engulfing Bars.
⤷ They will get colored in real time so that you can be aware of when one is about to happen.
Hint:
⤷ Delay your entry AFTER the Engulfing candle by adding Confirmation candles.