OPEN-SOURCE SCRIPT
已更新 Next-Gen Engulfing Retracement
█ OVERVIEW
If you follow my work closely, you know my obsession with OrderBlocks and Retracements. We will reuse the same logic,
but using candle engulfments and candle engulfment reversals. It is the latter that we will interpret as OrderBlocks, and candle engulfments as
buy or sell signals.Instead of using the price and the average of the candles, here we prefer to use 4 exponential moving averages over 4 different
periods with a true range for detecting volatility and determining if a candle should be considered engulfed or not.
(note : if you know the principle of candle engulfment you should know that a bullish engulfment does not necessarily mean a buy signal).
█ HOW TO INTERPRET?
1 • We use last detected 'Bearish/Bullish Reversal Engulfing Candle' as an Retracement Level.
(Keep in mind Historical Retracements with extended lines is still useful and can still have an impact on the actual trend).
2 • We use 'Bearish/Bullish Candle' as confirmation of entry point.
3 • You can play with the 'Maximum Volatility' value or the 'True Range' Multiplier value to filter detected engulfing as you want.
4 • HTF and Auto HTF option available.
5 • Everything is customizable in settings (show inputs, colors, lines size etc...)
6 • Alerts is available for Engulfing Candle and Crossing Lines.
█ NOTES
-This script is not beginner's Level and is intended for Traders with advanced knowledge of Candlestick Patterns and the work of Michael j. Huddleston on the OrderBlocks.
Good Trade everyone and remember, risk management remains the most important!
If you follow my work closely, you know my obsession with OrderBlocks and Retracements. We will reuse the same logic,
but using candle engulfments and candle engulfment reversals. It is the latter that we will interpret as OrderBlocks, and candle engulfments as
buy or sell signals.Instead of using the price and the average of the candles, here we prefer to use 4 exponential moving averages over 4 different
periods with a true range for detecting volatility and determining if a candle should be considered engulfed or not.
(note : if you know the principle of candle engulfment you should know that a bullish engulfment does not necessarily mean a buy signal).
█ HOW TO INTERPRET?
1 • We use last detected 'Bearish/Bullish Reversal Engulfing Candle' as an Retracement Level.
(Keep in mind Historical Retracements with extended lines is still useful and can still have an impact on the actual trend).
2 • We use 'Bearish/Bullish Candle' as confirmation of entry point.
3 • You can play with the 'Maximum Volatility' value or the 'True Range' Multiplier value to filter detected engulfing as you want.
4 • HTF and Auto HTF option available.
5 • Everything is customizable in settings (show inputs, colors, lines size etc...)
6 • Alerts is available for Engulfing Candle and Crossing Lines.
█ NOTES
-This script is not beginner's Level and is intended for Traders with advanced knowledge of Candlestick Patterns and the work of Michael j. Huddleston on the OrderBlocks.
Good Trade everyone and remember, risk management remains the most important!
發行說明
-Code cleaning.發行說明
-Minor improvement.發行說明
-Removed HTF.-Updated default settings.
發行說明
-Minor improvement.發行說明
-Style improvement.發行說明
-Minor improvement.發行說明
-Added 'Average' layout type option.發行說明
'Average' layout mode has been removed cause of a bug. It will be back until it will be fix.發行說明
-Added 'Average' layout type option. (again)發行說明
-'Reversal Engulfing Candle' is now simply called 'Engulfing'.-'Engulfing Candle' is now simply called 'Strong Engulfing'.
-Algorithm gas been improved and settings is more simpler to interpret now.
-Script is now using ATR instead of EMA to find Engulfing.
-Code cleaning.
發行說明
-Code cleaning*發行說明
-Price added on labels.發行說明
-Minor improvements.-Default Engulfing color has been set to Red for Bearish and Green for Bullish Engulfing.
發行說明
-Lines Price alignement correction.發行說明
-Minor improvement發行說明
-Minor improvement.開源腳本
本著TradingView的真正精神，此腳本的創建者將其開源，以便交易者可以查看和驗證其功能。向作者致敬！雖然您可以免費使用它，但請記住，重新發佈程式碼必須遵守我們的網站規則。
Telegram: t.me/+erb2pUEsHc43NmRk
E-mail: support@ricksimpsontrading.com
E-mail: support@ricksimpsontrading.com
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
開源腳本
本著TradingView的真正精神，此腳本的創建者將其開源，以便交易者可以查看和驗證其功能。向作者致敬！雖然您可以免費使用它，但請記住，重新發佈程式碼必須遵守我們的網站規則。
Telegram: t.me/+erb2pUEsHc43NmRk
E-mail: support@ricksimpsontrading.com
E-mail: support@ricksimpsontrading.com
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。