OPEN-SOURCE SCRIPT
EMA Touch True Engulfing
### Overview
This script is a premium technical analysis tool that combines **Multi-EMA Touch Alerts** with a highly strict **"True Engulfing"** price action filter.
Unlike standard engulfing indicators that only look at the candle body, this version requires the current candle to engulf the **entire range (including wicks)** of the previous candle. This ensures you only see the most powerful reversal signals near key dynamic support and resistance.
### Key Features
* **Strict "True Engulfing" Logic**: Signals only appear when the current candle's body completely swallows the previous candle's High and Low.
* **4-Layer EMA Setup**: Tracks 4 customizable EMAs (Default: 10, 20, 40, 80) for trend context.
* **Minimalist Visuals**: Uses the Japanese character **"包"** (meaning "Engulf") for a clean, non-intrusive chart layout.
* **Green Label**: High-probability Bullish Engulfing.
* **Red Label**: High-probability Bearish Engulfing.
* **Combo Alerts**: Built-in alert conditions for EMA touches, True Engulfing patterns, and a "Combo Alert" for when both happen simultaneously.
### How to Trade
1. **Trend Context**: Identify the primary trend using the EMAs.
2. **The Retest**: Wait for the price to pull back to an EMA.
3. **The Confirmation**: Look for the **"包"** label. This indicates that the market has completely rejected the EMA level by overpowering the previous candle's entire range.
This script is a premium technical analysis tool that combines **Multi-EMA Touch Alerts** with a highly strict **"True Engulfing"** price action filter.
Unlike standard engulfing indicators that only look at the candle body, this version requires the current candle to engulf the **entire range (including wicks)** of the previous candle. This ensures you only see the most powerful reversal signals near key dynamic support and resistance.
### Key Features
* **Strict "True Engulfing" Logic**: Signals only appear when the current candle's body completely swallows the previous candle's High and Low.
* **4-Layer EMA Setup**: Tracks 4 customizable EMAs (Default: 10, 20, 40, 80) for trend context.
* **Minimalist Visuals**: Uses the Japanese character **"包"** (meaning "Engulf") for a clean, non-intrusive chart layout.
* **Green Label**: High-probability Bullish Engulfing.
* **Red Label**: High-probability Bearish Engulfing.
* **Combo Alerts**: Built-in alert conditions for EMA touches, True Engulfing patterns, and a "Combo Alert" for when both happen simultaneously.
### How to Trade
1. **Trend Context**: Identify the primary trend using the EMAs.
2. **The Retest**: Wait for the price to pull back to an EMA.
3. **The Confirmation**: Look for the **"包"** label. This indicates that the market has completely rejected the EMA level by overpowering the previous candle's entire range.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.