C BullEng BearEng
From MultiCharts
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.