PROTECTED SOURCE SCRIPT
Updated Daily Engulfing Pattern Detector
This indicator identifies bullish and bearish engulfing patterns on daily timeframes.
A bullish engulfing pattern occurs when a green candle completely engulfs the previous red candle,
taking out its low and closing above both its open and close prices. This suggests a potential trend reversal from bearish to bullish.
A bearish engulfing pattern occurs when a red candle completely engulfs the previous green candle,
taking out its high and closing below both its open and close prices. This suggests a potential trend reversal from bullish to bearish.
Features:
- Works on daily timeframe by default (customizable)
- Displays visual markers: green triangles for bullish patterns, red triangles for bearish patterns
- Includes built-in alerts for both pattern types
Set up alerts by right-clicking the indicator and selecting "Create Alert"
A bullish engulfing pattern occurs when a green candle completely engulfs the previous red candle,
taking out its low and closing above both its open and close prices. This suggests a potential trend reversal from bearish to bullish.
A bearish engulfing pattern occurs when a red candle completely engulfs the previous green candle,
taking out its high and closing below both its open and close prices. This suggests a potential trend reversal from bullish to bearish.
Features:
- Works on daily timeframe by default (customizable)
- Displays visual markers: green triangles for bullish patterns, red triangles for bearish patterns
- Includes built-in alerts for both pattern types
Set up alerts by right-clicking the indicator and selecting "Create Alert"
Release Notes
This indicator identifies bullish and bearish engulfing patterns on daily timeframes.A bullish engulfing pattern occurs when a green candle completely engulfs the previous red candle,
taking out its low and closing above both its open and close prices. This suggests a potential trend reversal from bearish to bullish.
A bearish engulfing pattern occurs when a red candle completely engulfs the previous green candle,
taking out its high and closing below both its open and close prices. This suggests a potential trend reversal from bullish to bearish.
Features:
- Works on daily timeframe by default (customizable)
- Displays visual markers: green triangles for bullish patterns, red triangles for bearish patterns
- Includes built-in alerts for both pattern types
Set up alerts by right-clicking the indicator and selecting "Create Alert"
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
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.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
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.