High accuracy “EMA Bullish-Bearish Engulfing Trading System” – The Engulfing pattern is a major reversal pattern. This particular pattern is formed after a clear downtrend in the market.
This candle ideally opens lower than the 1st day’s close, then ideally closes higher than the 1st day’s open, which will show the green candle completely engulfing the previous red candle of the day before.
The candle for the previous day shows that the trend was losing momentum, the large body shows that the new direction has started off with strength.
- Time Frame: H4 or higher
- Currency Pairs: Any
MetaTrader Trading indicators
- Moving Average
- Pattern Recognition Master
- RSI
BUY Rules
- Moving Average: 5EMA > 10EMA
- Pattern Recognition Master: Blue color “BULLISH ENGULFING” signal
- RSI line: Above the level 55 line
SELL Rules
- Moving Average: 5EMA < 10EMA
- Pattern Recognition Master: Red color “BEARISH ENGULFING” signal
- RSI line: Below the level 45 line
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