The "Engulfing Candle Finder ðïļ" indicator is designed to help traders identify both Bullish and Bearish Engulfing candlestick patterns on their charts. This indicator assists in recognizing potential market reversal trends. How to Use the Indicator
1. Installing the Indicator o Open the Trading View platform. o Go to the Chart page. o Click on the "Indicators" button in the top menu. o Select "Pine Script Editor". o Copy and paste the provided Pine Script code into the Pine Script Editor window. o Click the "Add to Chart" button to add the indicator to your chart.
2. Indicator Functionality o Bullish Engulfing Detection: ï§ Conditions: ï§ The previous candle must be bearish. ï§ The current candle must be bullish. ï§ The close of the current candle must be higher than the open of the previous candle. ï§ The open of the current candle must be lower than the close of the previous candle. ï§ Indicator Response: When a Bullish Engulfing pattern is detected, the indicator will draw a green circle below the corresponding candle with the text "BUN" in white. o Bearish Engulfing Detection: ï§ Conditions: ï§ The previous candle must be bullish. ï§ The current candle must be bearish. ï§ The close of the current candle must be lower than the open of the previous candle. ï§ The open of the current candle must be higher than the close of the previous candle. ï§ Indicator Response: When a Bearish Engulfing pattern is detected, the indicator will draw a red circle above the corresponding candle with the text "BEN" in white.
3. Using the Indicator for Trading o Use the indicator to identify potential market reversal trends: ï§ When a Bullish Engulfing pattern is detected, it may be a signal to consider entering a long position (buy). ï§ When a Bearish Engulfing pattern is detected, it may be a signal to consider entering a short position (sell). The "Engulfing Candle Finder ðïļ" indicator helps you to easily and quickly identify Engulfing candlestick patterns on your chart, supporting your decision-making in trading and enhancing your technical analysis. --------------------------------------------------------------------------------------------------- āļāļđāđāļĄāļ·āļāļāļēāļĢāđāļāđāļāļēāļ Indicator: Engulfing Candle Finder ðïļ
1. āļāļēāļĢāļāļīāļāļāļąāđāļāļāļīāļāļāļīāđāļāđāļāļāļĢāđ o āđāļāļīāļāđāļāļĨāļāļāļāļĢāđāļĄ Trading View o āđāļāļāļĩāđāļŦāļāđāļēāđāļāļāļ āļđāļĄāļī (Chart) o āļāļĨāļīāļāļāļĩāđāļāļļāđāļĄ "Indicators" (āļāļąāļ§āļāļĩāđāļ§āļąāļ) āļāļĩāđāđāļĄāļāļđāļāđāļēāļāļāļ o āđāļĨāļ·āļāļ "Pine Script Editor" (āļāļąāļ§āđāļāđāđāļāļŠāļāļĢāļīāļāļāđ Pine) o āļāļąāļāļĨāļāļāđāļĨāļ°āļ§āļēāļāđāļāđāļ Pine Script āļāļĩāđāđāļŦāđāļĄāļēāđāļāļŦāļāđāļēāļāđāļēāļ Pine Script Editor o āļāļĨāļīāļāļāļĩāđāļāļļāđāļĄ "Add to Chart" (āđāļāļīāđāļĄāļĨāļāđāļāļāļĢāļēāļ) āđāļāļ·āđāļāđāļāļīāđāļĄāļāļīāļāļāļīāđāļāđāļāļāļĢāđāļĨāļāđāļāļāļĢāļēāļāļāļāļāļāļļāļ
Questo script ÃĻ pubblicato con codice protetto, ma puoi comunque usarlo gratuitamente. Mettendolo tra i preferiti potrai applicarlo al grafico, senza perÃē la possibilità di visualizzare o modificare il codice sorgente.
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