Multi-Timeframe Engulfing Box, Malaysian SNR

12 May

Multi-Timeframe Engulfing Box Indicator Documentation
Overview
The Multi-Timeframe Engulfing Box Indicator is a powerful tool for identifying and visualizing bullish and bearish engulfing patterns across multiple timeframes. It creates boxes that extend to the right, highlighting potential support and resistance zones created by these high-probability reversal patterns.
Key Features

Detects both bullish and bearish engulfing patterns
Supports analysis across three timeframes simultaneously (current chart timeframe plus two additional user-defined timeframes)
Displays visual boxes that extend to the right, making it easy to identify potential support and resistance areas
Option to mark failed engulfing patterns with dotted borders
Customizable box appearance with labels showing the timeframe
Configurable maximum number of displayed patterns per timeframe
Highlights bars with engulfing patterns using customizable colors

Input Parameters
General Settings

Label Position: Determines where the timeframe label appears within each box (Center, Top, Bottom, Top Left Corner, Top Right Corner, Bottom Left Corner, Bottom Right Corner)
Mark Failed Engulf: When enabled, the indicator will mark engulfing patterns that have failed by changing their border style to dotted

Current Timeframe Settings

Enable/Disable: Toggle detection of engulfing patterns on the current chart timeframe
Maximum Bull/Bear Patterns: Set how many bull and bear engulfing patterns to display on the current timeframe
Show Label: Option to display the timeframe label inside each box
Box Fill Style: Choose between "None" (transparent), "Solid", or "Semi-Transparent" box fills
Bull/Bear Colors: Customize the colors for bullish and bearish engulfing pattern boxes

Higher Timeframe Settings (TF1 and TF2)
For each of the two additional timeframes, you can configure:

Enable/Disable: Toggle detection of engulfing patterns on this timeframe
Timeframe Selection: Choose which higher timeframe to analyze (e.g., 4h, Daily)
Box Fill Style: Set the transparency of the boxes
Maximum Bull/Bear Patterns: Control how many patterns to display for this timeframe
Show Label: Option to display the timeframe label inside each box
Bull/Bear Colors: Customize the colors for the boxes

Trading Applications
The Multi-Timeframe Engulfing Box Indicator can be used to:

Identify potential reversal zones: Engulfing patterns often signal the end of a trend and the beginning of a reversal.
Spot multi-timeframe confluence: When engulfing patterns align across multiple timeframes, it increases the probability of a significant reversal.
Define support and resistance levels: The boxes extend to the right, creating visual support/resistance zones based on significant price action.
Filter false signals: By marking failed patterns, traders can avoid taking trades based on invalidated setups.
Enhance trade management: The boxes provide visual guidance for stop loss and take profit levels.

Best Practices

Focus on engulfing patterns that align across multiple timeframes for higher probability trades
Pay attention to the size of the engulfing candles - larger engulfing candles generally indicate stronger reversals
Use in conjunction with other indicators or price action analysis for confirmation
Consider the overall market context and trend when interpreting the signals
Filter signals by noting which patterns have failed (dotted border) vs. which remain valid

12 May

Sürüm Notları

updated box creation to EOD

12 May

Sürüm Notları

fixed duplicate box on higher timeframes

12 May

Sürüm Notları

fixed inputs

17 May

Sürüm Notları

clean chart updated

17 May

Sürüm Notları

The integrated trend dashboard provides an at-a-glance view of pattern status and market direction based on the most recently formed engulfing patterns.
Dashboard Features
The dashboard displays real-time information for each enabled timeframe:

Timeframe Column: Shows which timeframe each row represents (current chart timeframe, plus any additional timeframes you've enabled)
Status Column: Displays the current state of the most recent engulfing pattern:

Active (green): Pattern is valid and has not been invalidated by price action
Failed (red): Pattern has been invalidated (price closed beyond the pattern's threshold)
No Box: No engulfing patterns currently exist for this timeframe


Trend Column: Shows the market direction based on the most recently formed engulfing pattern:

Bullish (green): Most recent pattern is bullish, suggesting potential upward movement
Bearish (red): Most recent pattern is bearish, suggesting potential downward movement
None (gray): No patterns detected to determine trend



How It Works
The dashboard analyzes all active engulfing patterns across your selected timeframes:

For each timeframe, it determines which pattern (bullish or bearish) appeared most recently
It checks whether the pattern is still valid or has failed based on subsequent price action
It displays this information in a clean, color-coded table in your selected position on the chart

This provides traders with crucial information about potential trend changes or continuations across multiple timeframes, enabling more informed trading decisions.
Dashboard Settings

Show Dashboard: Toggle dashboard visibility
Dashboard Location: Choose where on the chart to display the dashboard
Dashboard Size: Adjust text size to your preference

The dashboard dynamically updates with each new bar, ensuring you always have the latest trend information based on engulfing pattern analysis.

19 May

Sürüm Notları

fixed trend detection on higher timeframes

19 May

Sürüm Notları

added alerts when all timeframes are aligned

19 May

Sürüm Notları

fixed alerts

20 May

Sürüm Notları

fixed alerts.

21 May

Sürüm Notları

added volume check for candle breakout. if volume is higher than average volume it will be considered valid engulf. this functionality will filter fake engulfing without volume