3Engulfing | V.2.5

3 мар.

Introduction to the 3Engulfing Indicator | V.2.5

The 3Engulfing Indicator is a powerful price action-based tool designed to help traders identify bullish and bearish engulfing patterns effectively. This indicator works by scanning three consecutive candlesticks and confirming their engulfing behavior, making it ideal for swing traders and intraday traders.

Key Features

✔️ 3Engulfing Pattern
• Light Green Diamond (3Engulfing Bullish): Confirms a strong bullish engulfing pattern over 3 candles.
• Light Red Diamond (3Engulfing Bearish): Confirms a strong bearish engulfing pattern over 3 candles.
• Yellow Arrow Up: Standard bullish engulfing confirmation.
• White Arrow Down: Standard bearish engulfing confirmation.

✔️ Dynamic Swing Price Ranges
• Upper, Middle, and Lower Band Lines: Represent dynamic price zones that help identify market structure and trend direction.

✔️ Buy/Sell Signals for Entry
• Green Triangle: Suggested BUY opportunity.
• Red Triangle: Suggested SELL opportunity.

✔️ Smart Trend Confirmation
• Trend Direction Confirmation: Helps traders stay in alignment with the dominant trend.
• Stochastic RSI Background Color: Enhances trend confirmation (Green = Bullish, Red = Bearish).

How to Use the 3Engulfing Indicator for Trading

📌 Confirming a Buy Entry (Bullish Trend)
✅ Step 1: The closing price should be below the Lower Band Line.
✅ Step 2: A Light Green Diamond (3Engulfing Bullish) must appear.
✅ Step 3: The band direction should be upwards (↗).
✅ Step 4: A cluster of Green Triangles should be visible.
✅ Step 5: The Stochastic RSI background should be green.
✅ Step 6 (Optional): A Yellow Arrow Up (↗) adds more confidence to the signal.

📌 Confirming a Sell Entry (Bearish Trend)
✅ Step 1: The closing price should be above the Upper Band Line.
✅ Step 2: A Light Red Diamond (3Engulfing Bearish) must appear.
✅ Step 3: The band direction should be downwards (↘).
✅ Step 4: A cluster of Red Triangles should be visible.
✅ Step 5: The Stochastic RSI background should be red.
✅ Step 6 (Optional): A White Arrow Down (↘) adds more confidence to the signal.

Take Profit (TP) and Stop Loss (SL) Strategy

🎯 Bullish Take Profit (TP):
✔️ Option 1: When the closing price crosses above the Middle Band Line.
✔️ Option 2: If the price breaks the Upper Band Line with a Light Green Diamond (3Engulfing Bullish) confirmation.

🛑 Bullish Stop Loss (SL):
✔️ After entering a Long trade, place the SL at the last Swing Low.

🎯 Bearish Take Profit (TP):
✔️ Option 1: When the closing price crosses below the Middle Band Line.
✔️ Option 2: If the price breaks the Lower Band Line with a Light Red Diamond (3Engulfing Bearish) confirmation.

🛑 Bearish Stop Loss (SL):
✔️ After entering a Short trade, place the SL at the last Swing High.

Additional Features

🔥 Trend Following for Short-Term & Mid-Term Trading
• Follow Green Triangle Clusters for bullish continuation.
• Follow Red Triangle Clusters for bearish continuation.

📊 Customizable Multi-Timeframe Moving Averages
• Fast & Slow MAs to confirm overall trend direction.

📈 Smart Ichimoku Settings
• Integrated Tenkan, Kijun, Senkou A/B, and Chikou Span for trend validation.

🔍 Fair Value Gap (FVG) Detection
• Detects liquidity voids for possible price retracements.

📆 Economic Calendar Integration
• Automatically plots major economic events like FOMC, CPI, and NFP on the chart.

📊 Customizable RSI & MACD Signals
• Detects RSI overbought/oversold levels.
• Detects MACD bullish/bearish crossovers.

Why Use the 3Engulfing Indicator?

✅ Price Action-Based – No lagging indicators, just pure price movement.
✅ Smart Money Concepts Compatible – Works well with liquidity zones & swing trading.
✅ Comprehensive Entry & Exit Strategy – Built-in confirmations for stronger setups.
✅ Customizable & User-Friendly – Adjust settings for your trading style.

💡 Get ready to take your trading to the next level with 3Engulfing Indicator! 🚀

3 мар.

Информация о релизе

//Let's Me Explain About This Indicator
// LightGreen Diamond "3Engulfing" is Bullish Confrim Engulfing 3 Candle
// LightRed Diamond "3Engulfing" is Bearish Confrim Engulfing 3 Candle
// Yellow ArrowUp is Normal Bullish Engulfing Candle
// White ArrowDown is Normal Bearish Engulfing Candle
// UpperBandLine, MiddleBandLine, LowerBandLine is Range Of Swing Price
// Little Green Triangle is Signal To Buy
// Little Red Triangle is Signal To Sell

//How To Use Indicator For Trading
//1. Confrim Signal Step
// 1.1) Bullish Trend
// 1.1.1) If Close Price < LowerBandLine
// 1.1.2) Must Have LightGreen Diamond "3Engulfing"
// 1.1.3) Direction Of BandLine are Up like this (↗)
// 1.1.4) Have a Cluster of Green Triangle
// 1.1.5) Sto Background Color is Green
// **1.1.6) It's Good If Have a Yellow Direction Arrow Up (↗) but If Not Have a Yellow Direction Arrow Up (↗) No Problem
// 1.2) Bearish Trend
// 1.2.1) If Close Price > UpperBandLine
// 1.2.2) Must Have LightRed Diamond "3Engulfing"
// 1.2.3) Direction Of BandLine are Down like this (↘)
// 1.2.4) Have a Cluster of Red Triangle
// 1.1.5) Sto Background Color is Red
// **1.2.6) It's Good If Have a White Direction Arrow Down (↘) but If Not Have a White Direction Arrow Down (↘) No Problem
//2. Trend Following for Short-Term/Mid-Term
// 2.1) Bullish Follow
// 2.1.1) Have a Cluster of Green Triangle
// 2.1.2) Have a Yellow Direction Arrow Up (↗) >>(or)<< LightGreen Diamond "3Engulfing"
// 2.2) Bearish Follow
// 2.2.1) Have a Cluster of Red Triangle
// 2.2.2) Have a White Direction Arrow Down (↘) >>(or)<< LightRed Diamond "3Engulfing"
//3. TP and SL - If You Following Trend or Confirm Signal
// 3.1) Bullish TP/SL
// 3.1.1) TakeProfit (TP)
// 3.1.1.1) Can TP IF Close > MiddleBandLine or CrossingUp (Sometime Not Large But More Time for TP From Intraday)
// 3.1.1.2) Can TP If Price Candle Breake UpperBandLine and Have a LightGreen Diamond "3Engulfing" or Have a Invert Arrow Direction
// 3.1.2) StopLoss (SL)
// 3.1.2.1) Can SL After Your Open Long/Buy Position by SwingLowLine
// 3.2) Bearish TP/SL
// 3.2.1) TakeProfit (TP)
// 3.2.1.1) Can TP If Close < MiddleBandLine or CrossingDown (Sometime Not Large But More Time for TP From Intraday)
// 3.2.1.2) Can TP If Price Candle Breake LowerBandLine and Have a LightRed Diamond "3Engulfing" or Have a Invert Arrow Direction
// 3.1.2) StopLoss (SL)
// 3.1.2.1) Can SL After Your Open Short/Sell Position by SwingHighLine