PROTECTED SOURCE SCRIPT
Engulfing Candle Money Glitch
What It Does:
📌 Trade Entry Logic:
Bullish Entry:
Detects a bullish engulfing candle (current close ≥ previous open, and previous candle is bearish).
Confirms oversold RSI (RSI ≤ 34, or was oversold in the last 2 candles).
Triggers a long (buy) trade.
Bearish Entry:
Detects a bearish engulfing candle (current close ≤ previous open, and previous candle is bullish).
Confirms overbought RSI (RSI ≥ 66, or was overbought in the last 2 candles).
Triggers a short (sell) trade.
📌 Trade Exit Logic:
Uses ATR-based dynamic stop loss and trailing stop:
Stop loss is set to 1.5 × ATR.
A trailing stop activates once the price moves 1.0 × ATR in profit, locking in gains.
📌 Visual and Alerts:
Plots green upward triangles below bullish trade bars.
Plots red downward triangles above bearish trade bars.
Sends alerts when bullish or bearish trade conditions are met, labeled as potential "Double Bottom" or "Double Top" setups.
📈 Use Case:
Best used in reversal conditions on any timeframe, especially after overbought/oversold RSI levels, with engulfing candles as the trigger. The ATR-based trailing mechanism aims to secure profits during volatility.
optimized for a specific asset or timeframe (e.g., NQ 3–5 min)
📌 Trade Entry Logic:
Bullish Entry:
Detects a bullish engulfing candle (current close ≥ previous open, and previous candle is bearish).
Confirms oversold RSI (RSI ≤ 34, or was oversold in the last 2 candles).
Triggers a long (buy) trade.
Bearish Entry:
Detects a bearish engulfing candle (current close ≤ previous open, and previous candle is bullish).
Confirms overbought RSI (RSI ≥ 66, or was overbought in the last 2 candles).
Triggers a short (sell) trade.
📌 Trade Exit Logic:
Uses ATR-based dynamic stop loss and trailing stop:
Stop loss is set to 1.5 × ATR.
A trailing stop activates once the price moves 1.0 × ATR in profit, locking in gains.
📌 Visual and Alerts:
Plots green upward triangles below bullish trade bars.
Plots red downward triangles above bearish trade bars.
Sends alerts when bullish or bearish trade conditions are met, labeled as potential "Double Bottom" or "Double Top" setups.
📈 Use Case:
Best used in reversal conditions on any timeframe, especially after overbought/oversold RSI levels, with engulfing candles as the trigger. The ATR-based trailing mechanism aims to secure profits during volatility.
optimized for a specific asset or timeframe (e.g., NQ 3–5 min)
Script protetto
Questo script è pubblicato come codice protetto. Tuttavia, è possibile utilizzarlo liberamente e senza alcuna limitazione – per saperne di più clicca qui.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Script protetto
Questo script è pubblicato come codice protetto. Tuttavia, è possibile utilizzarlo liberamente e senza alcuna limitazione – per saperne di più clicca qui.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.