This is a simple algorithm for a Tradingview strategy tracking a convergence of 2 unrelated indicators.
Convergence is the solution to my trading problems.
It's a puzzle with infinite possibilities and only a few working combinations.
Here's one that I like
- Engulfing pattern
- Price vs Moving average for detecting a breakout
This script shows you where a candle is either bullish or bearish engulfing the previous candle.
A GREEN triangle below the bar pointing UP indicates that the candle is BULLISH engulfing the previous candle
A RED triangle ABOVE the bar pointing DOWN indicates that the candle is BEARISH engulfing the previous candle
This indicator is a tool designed to be used with Steven Hart's RSI Exhaustion strategy. For more information google TheTradingChannel or look him up on YouTube :)
The default RSI settings for this strategy are:
RSI Overbought: 80
RSI Oversold: 20
When the RSI gets above 80, the line will turn red and the script will begin looking for a specific...
Credit to HPotter for that script
I took his script and added alerts to it. 2 lines lol
But anyway, useful to detect reversals by coloring bullish/bearish engulfing candles :)
I am really excited to publish my work, I know its at the beginning but there is a lot to come in the future. I am writing a script to identify the candlestick patterns. In this version, I have added Hammer and Hanging Man Pattern in the first version, I know its less but its a beginning, I will keep adding the new information in my script in upcoming...
Liquidity engulfing candles (LEC) are a variant of a common candlestick pattern: engulfing candles but with a couple extra conditions applied. These conditions expect highs/lows to be taken out in order to show a continuation or reversal signal.
Filter 1: Stop Hunt Wick Filter
This filter requires the candle to wick into the prior candles high or low ( bullish =...
This script detects an event created by Oliver Velez is called Bull / Bear 180, in the following images the event is detailed:
- The size of the control bar can be set compared to a number of previous bars
- The minimum % of the control bar body can be set
- You can filter by trend
- Possibility of seeing fast and slow media with direction detection and...
Indicator showing volume impulse & engulfing candlestick pattern.
You can set up multiple parameter for both events.
Volume Impulse :
Volume Period : Lenght of the average volume calculated.
Volume Multiplier : Factor to compare actual volume with average volume.
Engulfing Pattern :
VS avg body : Let you chose to compare body candle to...
Continuing deeper and stronger with the screeners serie. I keep getting requests private messages and requests saying that screeners aren't possible with TradingView.
My answer is always... "Reallyyy ??" (I never find a better answer than that...)
I'll publish a few screeners just for everyone to understand what can be done with Pinescript. We...
This is a bullish reversal pattern formed by two candlesticks. Following a downtrend,
the first candlestick is a down candlestick which is followed by an up candlestick
which has a long real body that engulfs or contains the real body of the prior bar.
The Engulfing pattern is the reverse of the Harami pattern.
- For purpose educate...
Probably the most complicated script you have seen...
The Engulfing Candle Script that ACCTUALLY finds the engulfing candles.
This indicator is a part of my new script I am creating and I will be realising soon. Hope it helps.
I really don't understand why other people were making it so complicate LOL
Indicator that highlights Hammer, Inverted Hammer, Engulfing, and Harami candlestick patterns. Great for those looking for a quick way to show the most popular reversal patterns on the charts.
Options will allow you to select to show Hammers, Engulfing or Harami patterns only. You choose the combinations that you want. Great tool to learn and training your...
A simple indicator that marks FULL CANDLE engulfing candles...
current high > previous high
current low < previous low
bullish: close > open (triangle below)
bearish: close < open (triangle above)
A lot of the engulfing indicators available are body only. I created a FULL CANDLE indicator because that's what I prefer using.
Can be useful for...
This strategy combines the idea of a bullish or bearish candle engulfing coupled with standard deviation (a 100% increase or a 50% decrease). The exit condition is placed if the percentage increase is achieved or 35<rsi<65.
The strategy requires refinement so please test the script and let know what can be incorporated to improve the efficiency.