Engulfing Detector

This script detects classic candlestick reversal patterns known as Engulfing formations:

Bullish Engulfing: A green candle fully engulfs the previous red candle.

Bearish Engulfing: A red candle fully engulfs the previous green candle.

🔎 Features:

Works on any time frame or instrument.

Optional filter to ignore overly large or irregular candles.

Visual signals on the chart (BE/SE labels).

Built-in alerts for automation or notification.

✅ Recommended usage:
For intraday trading, this indicator performs best on the 5-minute chart of the Nasdaq (NQ) between 9:45 AM and 1:00 PM ET (15:45–19:00 CET).

💡 Suggested trading approach:
Optimized for scalping with short-term trades and small take-profits around +0.10%.