Engulfing by Zone

Basic Indicator

The 'Enguling By Zone Indicator' is designed to help traders effectively use zones for stop losses, minimizing risks, and maximizing profits. It is a very versatile indicator that can be used for wick trading, reversal trading, and more.

Beginner
wick trading reversal zone

Key Features

  • Zone trading, stop loss by zone, so normally you won’t hit your stop loss if you know how
  • No need for super accuracy since it is based on candlestick patterns
  • Can be used for wick trading
  • Can be used for reversal trading

References Indicator

Visible Range (VPVR), Fibonacci, and any Support and Resistance Indicator

How to Use

Reversal by Zone:

1 hour timeframe 1 hour timeframe

Recommended Settings

Alert Timeframe: Use 1 hour
Stop loss: Zone + 1% or Wick + 1%

Wick Trading (Double Bottom Trading):

  • Look for the Double Bottom Pattern on the 4-Hour Chart or At least 2 wicks
  • Draw a support zone that covers the candle bodies and extends to the lowest wick of the second bottom.
  • Switch to 5 min or 15 min and set an alert