This indicator will show a downward arrow when it detects a bearish engulfing candle while crossing over an overbought or oversold line. It will show an upward arrow if it detects a bullish candle while crossing the overbought or oversold line. A cross of the overbought or oversold line is made when the signal line of the stochastic crosses the line. If in the case of an overbought cross the signal line of stochastic was below the overbought and then crosses above it that is a valid cross, crosses in the other direction are ignored. It is similar, but opposite, for the oversold, the signal line must cross from above to below the oversold level.
- OverSold level for defining the oversold level
- OverBought level for defining overbought
- symbol enter a symbol name here if you don’t want to use the symbol that the chart is attached to.
- The timeframe is used to select periods that are possibly different from the one that the chart is attached to base the indicator on.
MT5 Indicators – Download Instructions
Engulfing Stochastic MT5 Indicator is a Metatrader 5 (MT5) indicator and the essence of this technical indicator is to transform the accumulated history data.
Engulfing Stochastic MT5 Indicator provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly. Click here for MT5 Strategies
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How to install Engulfing Stochastic MT5 Indicator.mq5 to your MetaTrader 5 Chart?
- Download Engulfing Stochastic MT5 Indicator.mq5
- Copy Engulfing Stochastic MT5 Indicator.mq5 to your Metatrader 5 Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your mt5 indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on Engulfing Stochastic MT5 Indicator.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator Engulfing Stochastic MT5 Indicator.mq4 is available on your Chart
How to remove Engulfing Stochastic MT5 Indicator.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader 5 Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Engulfing Stochastic MT5 Indicator (Free Download)
Click here below to download: