C BullEng BearEng

The indicator displays a plot corresponding to bullish engulfing and bearish engulfing candlestick patterns.

Description

Bullish engulfing is defined as:

• The body of a green candle is larger and engulfs both the open and close of a red candle on the previous bar
• The price trend is declining
• The body of the green candle is greater than the average body

Bearish engulfing is defined as:

• The body of a red candle is larger and engulfs both the open and close of a green candle on the previous bar
• The price trend is advancing
• The body of the red candle is greater than the average body

Default Inputs

Length( 14 ) sets the length used to calculate the average body.