Daveatt

BEST Ultimate Engulfing Screener

Hello traders

Continuing deeper and stronger with the screeners serie. I keep getting requests private messages and requests saying that screeners aren't possible with TradingView.
My answer is always... "Reallyyy ??" (I never find a better answer than that...)

I'll publish a few screeners just for everyone to understand what can be done with Pinescript. We don't have to wait for TradingView to allow screener based on custom indicator - we can build our own ^^

I - What is an engulfing pattern

Let's start with a screener to check for a very famous candlestick pattern called engulfing

Engulfing candles tend to signal a reversal of the current trend in the market. This specific pattern involves two candles with the latter candle ‘engulfing’ the entire body of the candle before it.
The engulfing candle can be bullish or bearish depending on where it forms in relation to the existing trend
Source and more info here

These engulfing candles indicate a strong shift in direction, and when combined with observation of the price-trending direction that precedes it, this shift creates the opportunity for a trading strategy.

II - How did I set the screener

I added an optional filter being Price vs SMA . The idea is to select only the engulfing whenever the price also breaks an SMA - this usually translates a stronger move - but could sometimes give the signal too late (#meh #trading #ain't #easy)

The visual signals are as follow:

- square: whenever the engine detects an engulfing and an SMA breakout
- triangle: the engine only detects an engulfing
- dash: none of the above

Then the colors are:

- orange when bullish
- yellow when bearish
- aqua/dash when none of the above

Cool Hacks

"But sir... what can we do with only 5 instruments for a screener?" I agree not much but...
even if I allow only 5 instruments per indicator - nothing prevents you from adding multiple times the same indicator and changing the selected instruments for each. I also show why the SPX500 gave a yellow triangle ( bearish engulfing ) and how to match it with the screener.

=> https://imgur.com/a/X5Aq7rM

Wishing you all the BEST trading
Dave
Gỡ bỏ khỏi Script Ưa thích Thêm vào Script Ưa thích
💰 Results/Blogs: https://bit.ly/2ULUtjo

⏩ Signals/Pricing: https://best-trading-indicator.com/pages/pricing

🐦 Twitter: https://twitter.com/bti_trading

👉 Get a $30 discount on TradingView: https://bit.ly/2UM5OA0

📺 Youtube: https://bit.ly/3bKvnZu

Bình luận

Wow. Thank you. I'm new to TradingView, and was looking for a way to set up screeners based on indicators not in their (extensive, but incomplete) list of parameters.

This is exactly what I need, and I look forward to attempting customizations based on other candlestick patterns confirmed by support/resistance indicators.
+3 Phản hồi
this is epic
+1 Phản hồi
no alerts?
Phản hồi
Trang chủ Bộ lọc cổ phiếu Bộ lọc Forex Bộ lọc Tiền điện tử Lịch kinh tế Cách thức hoạt động Tính năng Biểu đồ Trả phí Giới thiệu bạn Quy tắc Áp dụng Trung tâm Trợ giúp Giải pháp cho Website & Nhà môi giới Widget Giải pháp biểu đồ Thư viện Biểu đồ Lightweight Blog & Tin tức Twitter
Hồ sơ Tùy chỉnh Hồ sơ Tài khoản và Thanh toán Giới thiệu bạn Xu Ticket Hỗ trợ của tôi Trung tâm Trợ giúp Các ý tưởng đã đăng Người theo dõi Đang theo dõi Tin nhắn riêng Trò chuyện Đăng xuất