Engulfing bar after trend change

Engulfing bar after trend change

• The EMA Engulfing Cross indicator is an indicator for the MetaTrader 5 platform that signals potential buy and sell opportunities based on an engulfing candle pattern after a recent exponential moving average cross.

• You can adjust how recently the trend change must have occurred using the PASTemaCROSS input.

• The RSI oversold/overbought function is used to confirm the signals generated by the moving averages. It takes into account the previous bar before the engulfing bar, and it is best used with RSI periods between 4-8 and very low or high level values.

• The indicator plots two lines on the chart as signal alerts, making it easy to identify potential buy and sell opportunities. The orange line represents a "Buy" signal and the blue line represents a "Sell" signal.

• The indicator uses two moving averages (EMA1 and EMA2) to identify potential buy and sell signals.

• The indicator has several input parameters that can be adjusted, including the periods for the moving averages (EMA1, EMA2), the RSI period, and the RSI upper and lower levels.

As standard inputs are set please add to your chart 

30 period ema

100 period ema

rsi period 5

levels 30/70

ALL  VARIABLE.

THANKYOU AND STAY TUNED