JF Engulfing Indicator

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JF Engulfing Indicator
The JF Engulfing indicator is very accurate and easy to use. The perfect trend reversal detector.

CATEGORIES: SIGNAL, MT5, PATTERNS, INFORMATIONAL
Updated on: 21.11.2023

If you are a technical forex trader, you have probably come across the term “eng-pattern”. If not, don’t worry. As the name implies, an engulfing pattern occurs when one candle completely covers the previous candle. You can easily detects the pattern by this JF Engulfing indicator for Meta Trader 5. In fact, the pattern is a sign of a possible trade reversal and appears in general or against the trend.

The Free Download – JF Engulfing Indicator for MT5 scans the market and identifies engulfing patterns on the chart. This means you don’t have to do the chore of manually defining a template. In fact, the indicator goes one step further by distinguishing between bearish and bullish engulfing and labeling them accordingly.

Therefore, the JF Engulfing indicator is suitable for both beginners and experienced traders. The best part is that you can use the indicator on all currency pairs and timeframes. In addition, the indicator allows you to customize the settings according to your personal preferences.

Using the JF absorption indicator for trading
Essentially, eng patterns show where market pressure is concentrated. To be precise, bullish engulfing shows that buying pressure is dominating the market. In other words, there are more buyers than sellers and therefore push prices up. When there are more sellers than buyers, they lower the price.

The indicator shows a GREEN arrow pointing up when it identifies a bullish movement pattern and a RED arrow pointing down when it identifies a bearish engulfing pattern. So your job is to identify the arrows and trade accordingly. However, it is wise to use other confirmation filters such as trendlines and moving averages to support the signal.