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[DEM] Engulfing Candlestick Identifier

[DEM] Engulfing Candlestick Identifier is designed to automatically detect and highlight bullish and bearish engulfing candlestick patterns by analyzing the relationship between consecutive candles and applying ATR-based size filters to ensure significant pattern validity. The indicator identifies bullish engulfing patterns when the current candle closes above the previous candle's open, opens below the previous candle's close, and both candles meet minimum size requirements based on ATR thresholds, while bearish engulfing patterns are detected under opposite conditions. The indicator colors bars green for bullish engulfing patterns, red for bearish engulfing patterns, and optionally purple for all other bars when the "Different Color" setting is enabled, helping traders quickly identify potential reversal signals where one candle completely engulfs the body of the previous candle with sufficient magnitude to suggest meaningful momentum shifts.
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受保護腳本
此腳本以閉源形式發佈。 不過,您可以自由使用,沒有任何限制 — 點擊此處了解更多。
免責聲明
這些資訊和出版物並非旨在提供,也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。