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Engulf

[TR] Engulf Patterns by SM Engulf Pattern by SM Overview: The " Engulf Pattern by SM" script is designed to identify bullish and bearish engulfing candlestick patterns on TradingView charts. Engulfing patterns are significant in technical analysis as they often indicate potential reversals in market trends. Features: - Bullish Engulfing Pattern Detection: The script identifies bullish engulfing patterns, which occur when a larger bullish candle completely engulfs the body of the previous smaller bearish candle. - Bearish Engulfing Pattern Detection: Similarly, it detects bearish engulfing patterns, where a larger bearish candle engulfs the body of the preceding smaller bullish candle. - Body Size Filtering: The script includes a feature to filter patterns based on the size of the candle bodies, allowing for more precise marking of significant patterns. - Visual Markers: The script plots visual markers on the chart to highlight the detected engulfing patterns, making it easy for traders to spot them. How It Works: 1. Bullish Engulfing Pattern: - The script checks for a smaller bearish candle followed by a larger bullish candle. - The body of the bullish candle must completely cover the body of the bearish candle. - The size of the bullish candle's body must meet a specified threshold to be considered significant. 2. Bearish Engulfing Pattern: - The script looks for a smaller bullish candle followed by a larger bearish candle. - The body of the bearish candle must completely engulf the body of the bullish candle. - The size of the bearish candle's body must meet a specified threshold to be considered significant. Usage: - Add the Script: Apply the " Engulf Pattern by SM" script to your TradingView chart. - Configure Settings: Customize the script settings to suit your trading strategy, including visual marker styles and body size thresholds. - Monitor Visual Markers: Keep an eye on the visual markers to identify potential trading opportunities based on engulfing patterns. Disclaimer: This script is not intended to be used as a direct entry signal. It should be used as a confluence in your overall trading plan. Always conduct your own analysis and consider multiple factors before making any trading decisions. Feel free to customize this writeup further to match your specific needs! If you have any other requests or need additional details, just let me know.
Pine Script™ indicator
by sicksand
2
Engulfing [TradingFinder] Bullish & Bearish CandleStick Pattern🔵 Introduction The candlestick engulfing pattern is important pattern in technical analysis that can be observed in candlestick charts. This pattern occurs when a complete candle engulfs or "engulfs" the body of a previous candle, meaning that the body of the new candle completely covers the body of the previous candle. The candlestick engulfing pattern has two types: the bullish engulfing pattern and the bearish engulfing pattern. • Bullish Engulfing Pattern: This pattern occurs when a market candle opens with a larger and higher body than the previous market candle and completely covers the body of the previous candle. This pattern may indicate the presence of strong buying pressure and a potential change in price direction upwards. • Bearish Engulfing Pattern: This pattern occurs when a market candle opens with a larger and lower body than the previous market candle and completely covers the body of the previous candle. This pattern may indicate the presence of strong selling pressure and a potential change in price direction downwards. The candlestick engulfing pattern is usually used as a valid signal for a change in price direction in the market and can enhance a combination of crossover investments and technical analysis. However, it should always be evaluated alongside other indicators and market factors, and counter decisions should be made accordingly. 🔵 Recognition Method Correct, the candlestick engulfing pattern is one of the important patterns in technical analysis that is typically used as a strong signal for a valid change in price direction in the market. This pattern occurs when a candle (usually in the market) opens with a larger and higher (for bullish engulfing pattern) or lower (for bearish engulfing pattern) body than a previous market candle and completely covers the body of the previous candle. Example of Bullish Engulfing Pattern: • First Candle: A bearish (downward) candle with a small red body. • Second Candle: A bullish (upward) candle with a larger body that completely covers the body of the previous candle. This pattern may indicate a change in price direction from downward to upward. Example of Bearish Engulfing Pattern: • First Candle: A bullish (upward) candle with a small green body. • Second Candle: A bearish (downward) candle with a larger body that completely covers the body of the previous candle. This pattern may indicate a change in price direction from upward to downward. The most important point is that the candlestick engulfing pattern should be carefully considered and always evaluated alongside other market indicators and overall conditions. For example, the engulfing pattern near important support or resistance levels, during significant market command changes, or accompanied by other technical signals can have greater signaling power. 🟣 "Bullish Engulfing" Candle • The first candle is bullish and the second candle is bearish. • At the end of a downtrend. • The closing of the first candle is above the opening of the second candle. • The high of the first candle is higher than the high of the second candle. Optimal Condition: • The closing of the first candle is higher than the high of the second candle. • More than 80% of the first candle is bullish. 🟣 "Bearish Engulfing" Candle • The first candle is bearish and the second candle is bullish. • At the end of an uptrend. • The closing of the first candle is below the opening of the second candle. • The low of the first candle is lower than the low of the second candle. Optimal Condition: • The closing of the first candle is below the opening of the second candle. • More than 80% of the first candle is bearish. 🔵 Settings The "Engulf Filter" option allows the "Optimal Condition" to be executed and will show fewer candlesticks. 🔵 Status Off: Default mode, showing more identifications. • Green color indicates optimal "Bullish Engulfing" candles. • Red color indicates optimal "Bearish Engulfing" candles. On: By changing the default to "On," the number of identifications decreases and the optimal condition is applied. • Blue color indicates "Bullish Engulfing" candles. • Black color indicates "Bearish Engulfing" candles. 🟣 Important Note "Engulfing" candles are very useful signals in the direction of the overall trend, but we do not expect a suitable movement from "Engulfing" candles against the trend.
Pine Script™ indicator
by TFlab
1
Engulfing pullbackThis Indicator searching for pullback on input Moving Average with Engulfing candle Rules for indicator :- Buy Signal - 1) search for pullback on ma if price above ma and come back and touches ma 2)after pullback on ma searching for bullish engulfing pattern on next candle 3)if pullback on previous candle and bullish engulfing for buy signal form Sell Signal - 1) search for pullback on ma if price below ma and come back touches ma 2)after pullback on ma searching for bearish engulfing pattern on next candle 3)if pullback on previous candle and bearish engulfing for buy signal form Disclaimer -Traders can use this script as a starting point for further customization or as a reference for developing their own trading strategies. It's important to note that past performance is not indicative of future results, and thorough testing and validation are recommended before deploying any trading strategy.
Pine Script™ indicator
by samscripter
5
Engulf Pattern DetectorThis indicator let us automatically detect and color the strongest and most powerful Engulf Patterns in any time frame. Its difference and great potential regarding other existing indicators is that its formula takes into account the average size of the previous candles throughout the ATR, therefore, it only indicates the really strong ones that interest us for Price Action, Supports and Resistances in supply and demand levels. These strongest levels are the ones which work at best as turning points pivot points for the market. This indicator let us to adjust ourselves to the best configuration by means of parameters in order to be more strict in the force of the impulses and to approximately mark the quantity of Engulf Patterns. Este indicador nos permite detectar y pintar de color de forma automática los Patrones Engulf más fuertes y potentes en cualquier marco de tiempo posible. Su diferencia y gran potencial con respecto a los demás indicadores existentes es que su fórmula tiene en cuenta el tamaño medio de las velas anteriores mediante el ATR y por tanto, sólo señala los realmente fuertes que nos interesan para el Price Action y los Soportes y Resistencias en niveles de Oferta y Demanda. Estos niveles más fuertes son aquellos que mejor funcionan como puntos pivote de giro del mercado. Este indicador nos permite ajustar mediante los parámetros la mejor configuración para ser más estrictos en la fuerza de los impulsos y marcar más o menos cantidad de patrones de Engulf. Parameters Settings / Parámetros Ajustables: [ ERC Min Body vs Full Candle Size % : Minimum body percentage vs full candle to consider “Extended Range Candle”, default 75% / Porcentaje mínimo del “cuerpo” de la vela con respecto a la vela entera para considerarla una “Vela Extendida”, por defecto 75%] [ Engulf Full Candle Size vs ATR % : Minimum Full candle size percentage vs ATR average, default 150% / Porcentaje mínimo del tamaño de la vela completa respecto al ATR medio, por defecto 150%] [ ATR Length : Candles Number to calculate ATR average, default 30 / Cantidad de velas para medir el ATR, por defecto 30] [ Use ATR filter? : We can activate or deactivate the ATR calculates, default activated / Podemos anular el cálculo sobre el ATR y hacerlo normal, por defecto activado] Color Settings / Colores Ajustables: [ Color 0 : Vela Engulf Alcista / Bullish Engulf] [ Color 1 : Vela Engulf Bajista / Bearish Engulf]
Pine Script™ indicator
by optimvs
5