Engulfing Candles

10 thg 5, 2024

This script serves as the "Engulfing Candles" indicator in TradingView. Here's what it does:

- It identifies bullish candlestick patterns where the current candle's high is lower than the previous candle's high, the current candle's low is higher than the previous candle's low, the current candle's close is higher than the previous candle's close, and the current candle's open is higher than the previous candle's open. It also identifies bearish candlestick patterns where the conditions are reversed.

- The indicator colors bullish candles in a specific color (Yellow Green) to visually highlight the bullish pattern, and colors bearish candles in another color (Purple pink) to visually highlight the bearish pattern.

- Additionally, it triggers an alert when either the bullish or bearish triangle shape appears, notifying traders with the message "A Southern Star Shadows pattern has appeared!"

10 thg 5, 2024

Phát hành các Ghi chú

This is the modified version of the Engulfing Candles indicator:

This script serves as the 'Engulfing Candles V2' indicator in TradingView. Here's what it does:

- It identifies two types of bullish engulfing candlestick patterns: the first type occurs when the current candle's close is higher than its open and higher than the previous candle's high, and the second type occurs when the current candle's close is higher than its open, higher than the previous candle's open, and the previous candle's close is lower than its open. Similarly, it identifies two types of bearish engulfing candlestick patterns: the first type occurs when the current candle's close is lower than its open and lower than the previous candle's low, and the second type occurs when the current candle's close is lower than its open, lower than the previous candle's open, and the previous candle's close is higher than its open.

- The indicator colors the previous candles based on the identified engulfing patterns. Bullish engulfing candles are colored in Yellow Green, while bearish engulfing candles are colored in Purple Pink.

- Additionally, it triggers an alert when any of the identified engulfing patterns appear on the previous candle, notifying traders with the message 'Engulfing pattern has appeared!'.

10 thg 5, 2024

Phát hành các Ghi chú

Bullish Patterns:
- bullish1: This pattern is a standard bullish engulfing pattern. It occurs when the current candle's close is higher than its open, the previous candle's close is lower than its open, and the current candle's close is higher than the previous candle's high.
- bullish2: This pattern extends the criteria of the bullish engulfing pattern. In addition to the conditions of bullish1, it checks if the close of the previous candle is higher than its open and if the close of the current candle is higher than the previous candle's high.
- bullish3: This pattern further extends the criteria. In addition to the conditions of bullish2, it checks if the close of the candle two periods ago is higher than its open and if the close of the current candle is higher than the previous two candle's high.
- bullish4: This pattern is the most extended version. In addition to the conditions of bullish3, it checks if the close of the candle three periods ago is higher than its open and if the close of the current candle is higher than the previous three candle's high.

Bearish Patterns:
- bearish1: This pattern is a standard bearish engulfing pattern. It occurs when the current candle's close is lower than its open, the previous candle's close is higher than its open, and the current candle's close is lower than the previous candle's low.
- bearish2: This pattern extends the criteria of the bearish engulfing pattern. In addition to the conditions of bearish1, it checks if the close of the previous candle is lower than its open and if the close of the current candle is lower than the previous candle's low.
- bearish3: This pattern further extends the criteria. In addition to the conditions of bearish2, it checks if the close of the candle two periods ago is lower than its open and if the close of the current candle is lower than the previous two candle's low.
- bearish4: This pattern is the most extended version. In addition to the conditions of bearish3, it checks if the close of the candle three periods ago is lower than its open and if the close of the current candle is lower than the previous three candle's low.

These patterns are progressively more stringent, capturing engulfing behaviors across multiple candle periods for both bullish and bearish scenarios.