🔵 Introduction The candlestick engulfing pattern is important pattern in technical analysis that can be observed in candlestick charts. This pattern occurs when a complete candle engulfs or "engulfs" the body of a previous candle, meaning that the body of the new candle completely covers the body of the previous candle. The candlestick engulfing pattern has two...
This is an "Engulfing" indicator. The "Engulfing" candle pattern is a reversal pattern that can appear at the end of an uptrend or downtrend. The indicator includes the following inputs or settings: 1. `tolerance`: This defines the percentage difference in size that there must be between the body of the current candle and that of the previous candle to consider...
A simple script to filter out bullish and bearish engulfing candles. Size of candles can be filtered.
Candlestick Patterns - Candlesticks are graphical representations of price movements for a given period of time. - There are candlestick patterns that try to predict the final direction, caused by pressure between buyers and sellers. As a general recommendation, use the candlestick patterns in the same direction of the current trend (continuations), for...
DESCRIPTION: This script has been designed to show the double high/low candle patterns and the Engulfing candles patterns. • This scripts is based on RSI length. • It displays a label when a Double High or Double Low candle pattern is detected. • It displays a label when a Bullish Engulfing or Bearish Engulfing candle pattern is detected. • It is also...