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OPEN-SOURCE SCRIPT

Engulfing Candle Indicator

By rmunoz
Updated
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
Release Notes
Updating indicator logic and adding the ability to set up alerts with this indicator.
Release Notes
  • Code cleanup
  • Added ability to backtest the trading strategy
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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 publication is governed by House rules. You can favorite it to use it on a chart.

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rmunoz

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