C BullEng BearEng: Difference between revisions
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The indicator displays a plot corresponding to '''Bullish Engulfing''' and '''Bearish Engulfing''' candlestick patterns.<br> | The indicator displays a plot corresponding to '''Bullish Engulfing''' and '''Bearish Engulfing''' candlestick patterns. | ||
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== Description == | |||
'''Bullish Engulfing''' is defined as: | '''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 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 price trend is declining | ||
* The body of the green candle is greater than the average body | * The body of the green candle is greater than the average body | ||
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'''Bearish Engulfing''' is defined as: | '''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 body of a red candle is larger and engulfs both the open and close of a green candle on the previous bar | ||
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* The body of the red candle is greater than the average body | * The body of the red candle is greater than the average body | ||
== Default Inputs == | == Default Inputs == | ||
'''Length (14)''' sets the length used to calculate the average body. | '''Length( 14 )''' sets the length used to calculate the average body. | ||
[[Category:Pre-built Indicators]] | [[Category:Pre-built Indicators]] | ||
Latest revision as of 14:41, 19 September 2024
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.
