Engulfing Candle Indicator

12 thg 12, 2024

This indicator helps identify Bullish and Bearish Engulfing candle patterns on your chart.

Bullish Engulfing: Occurs when a green candle completely engulfs the prior red candle, signaling potential upward momentum.
Bearish Engulfing: Occurs when a red candle completely engulfs the prior green candle, signaling potential downward momentum.

The script highlights these patterns with green triangles below the bars for Bullish Engulfing and red triangles above the bars for Bearish Engulfing.

This tool is helpful for traders who use candlestick patterns as part of their technical analysis strategy.

14 thg 12, 2024

Phát hành các Ghi chú

Updated label on chart.

11 thg 4

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Update: Engulfing candle logic fixed to open rather than high of wick

11 thg 4

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Update to chart example