OPEN-SOURCE SCRIPT
Bullish & Bearish Engulfing Finder [Crypto Varthagam]
Overview
This script is designed to automatically detect Bullish and Bearish Engulfing Candlestick Patterns directly on your TradingView chart. Engulfing patterns are widely used in price action trading as potential reversal signals.
Features
- Detects both Bullish Engulfing and Bearish Engulfing patterns.
- Option to require a prior trend filter (configurable consecutive bars)
Flexible engulfing detection:
- Strict mode (body must fully cover the previous candle’s body).
- Ratio mode (current body must be at least X times larger).
- Optional volume confirmation (engulfing candle volume > SMA × multiplier).
- Clear chart labels and optional background highlights.
- Built-in alert conditions for automated notifications.
- Lightweight, clean, and open-source for the community.
Why It’s Unique
- Unlike many engulfing detectors, this script gives you full control over detection rules. You can fine-tune strictness, require prior trends, or add volume conditions to filter out weak signals. Both bullish and bearish engulfing patterns are supported in one script, keeping your chart clean.
Housekeeping & Policy Notes
- This script is for educational purposes only. It does not provide financial advice or guaranteed trading signals.
- Always combine candlestick patterns with proper risk management and your own strategy.
- Fully open-source: feel free to study, learn, and adapt it for your needs.
Alerts
- “Bullish Engulfing Detected”
- “Bearish Engulfing Detected”
This script is designed to automatically detect Bullish and Bearish Engulfing Candlestick Patterns directly on your TradingView chart. Engulfing patterns are widely used in price action trading as potential reversal signals.
Features
- Detects both Bullish Engulfing and Bearish Engulfing patterns.
- Option to require a prior trend filter (configurable consecutive bars)
Flexible engulfing detection:
- Strict mode (body must fully cover the previous candle’s body).
- Ratio mode (current body must be at least X times larger).
- Optional volume confirmation (engulfing candle volume > SMA × multiplier).
- Clear chart labels and optional background highlights.
- Built-in alert conditions for automated notifications.
- Lightweight, clean, and open-source for the community.
Why It’s Unique
- Unlike many engulfing detectors, this script gives you full control over detection rules. You can fine-tune strictness, require prior trends, or add volume conditions to filter out weak signals. Both bullish and bearish engulfing patterns are supported in one script, keeping your chart clean.
Housekeeping & Policy Notes
- This script is for educational purposes only. It does not provide financial advice or guaranteed trading signals.
- Always combine candlestick patterns with proper risk management and your own strategy.
- Fully open-source: feel free to study, learn, and adapt it for your needs.
Alerts
- “Bullish Engulfing Detected”
- “Bearish Engulfing Detected”
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.