FFx Engulfing Setup Alerter can be found within the indicators section of the MQL5 website, it was uploaded by its creator Eri Venturi-Bloxs on the 26th of March 2014. It has not received any updates and so it still at its original version of version 1.0.
Overview
FFx Engulfing Setup Alerter is an indicator that can be used with the MetaTrader 4 trading platform. It was developed in order to give you entry, profit targets, and stop-loss targets.
The indicator comes with some main features:
- Entry suggestion – pips to be added over the break for the entry
- 3 different options to calculate the SL – by pips, by ATR multiplier or at the pattern High/Low
- 3 different options to calculate the 2 TPs – by pips, by ATR multiplier or at Risk/Reward
- Offset the dashboard – any place on the chart
- Remove the suggestion once the price reached the SL line
- Lines extension away from the current candle
- All colors changeable – Background, text, Buy/Sell, entry and TP/SL
- Alert when a setup is found – sound / popup / email / push notification
Service Cost
The FFx Engulfing Setup Alerter indicator can be purchased with a one-off payment of $12, this allows you to activate the indicator up to 5 times and there are no other limitations. There is no option to rent it but a demo version that can be used with the strategy tester within MT4 is available to use for free.
Conclusion
FFx Engulfing Setup Alerter has been given an overall rating of 4.5 out of 5 from its 11 available reviews.
“I bought yesterday (Sunday), and only a few hours when market open, I got covered my cost of buying this indicator!…recommended and good job bro!” – A 5-star review.
“Good indicator but repainting so watch out” – A 1-star review.
“Awesome indicators….just needs to be able to show historical would be a great help.” – A 5-star review.
The overall rating is very good with the majority of very positive reviews. There are also over 60 comments, the developer of the indicator has been very active in replying to comments and questions. The last reply was from 2019 so it has been a while, due to this we would recommend contacting the creator in order to ensure that they are still active in supporting the indicator.
This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/3716
