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Advanced Engulfing Candles

a_guy_from_wall_street  
Candlestick analysis Chart patterns Engulfing Candle Bullish Engulfing Bearish Engulfing trendtrading trendpattern analysis
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candlestickanalysis chartpatterns engulfingcandle bullishengulfing bearishengulfing trendtrading trendpattern analysis
There are a plenty of Engulfing candle detecting indicators but every single of them detect engulfing candles engulfed by only single candle but sometime it take more then one candle to engulf the previous opposite candle, which is also considered as engulfing candle.
So this script show both type of candles.
Type of Engulfing Candles
snapshot

Normal Engulfing Candles
snapshot
snapshot

Candle engulfed by more then one continuous candle
snapshot
snapshot

I hope you will like it.
If you find any bugs or have any suggestions for any possible addition feel free to comment or DM me.
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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