Two-Candle Engulfing 5min

Two-Candle Engulfing Indicator (5-Minute Version)

This TradingView indicator detects two-candle engulfing patterns on the 5-minute timeframe. It identifies bullish and bearish reversals by analyzing the last three candles:

Bullish Engulfing: A green candle that fully engulfs the previous two red candles, signaling potential upward momentum.

Bearish Engulfing: A red candle that fully engulfs the previous two green candles, signaling potential downward momentum.

Features:

Works on the 5-minute timeframe, even if the chart is set to a different timeframe.

Plots green triangles below bullish engulfing candles and red triangles above bearish engulfing candles for easy visualization.

Built-in alert conditions notify you immediately when a pattern occurs, allowing you to react in real-time.

Lightweight and optimized for fast detection without affecting chart performance.

Use Cases:

Spot short-term reversal opportunities.

Combine with other indicators or trading strategies to confirm trends.

Receive alerts for potential entries or exits in day trading setups.