Bull/Bear Engulf High Low Lookup — Indicator by cryptovesta

Allows to specify the high and low look-back period for both Bullish and Bearish engulfing candles. In essence, it is an extension of the classical engulf pattern. By default lookback period is set to 3.
Can be used on any time-frame and any instrument. Previous candle is irrelevent.

An engulfing candle is defined as follows:
Bullish: Must trade BELOW prior candle LOW and close ABOVE prior candle HIGH
Bullish: Must trade ABOVE prior candle HIGH and close BELOW prior candle LOW

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Updated Commentary

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New version with added features:

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This version has been deprecated. Use the new version provided above.

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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.

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