OPEN-SOURCE SCRIPT

Sweep Engulf 2 Candle

887
๐Ÿ” Overview:
This script identifies Bullish Engulfing and Bearish Engulfing candlestick patterns on the chart. These formations are widely used in technical analysis to spot potential reversals in price action. The indicator helps traders quickly identify these patterns by marking them directly on the chart with small arrows.

๐Ÿ“Œ Features:
โœ… Bullish Engulfing & Bearish Engulfing Detection
โœ… Customizable Display Options (Enable/Disable Bullish or Bearish signals)
โœ… Real-Time Alerts (Receive notifications when a pattern is formed)
โœ… Optimized Marker Size (Smaller icons for better chart visibility)

๐Ÿ“Š How It Works:
1. Bullish Engulfing Condition:
  • The second candle's low is lower than the first candle's low.
  • The second candle's close is higher than the first candle's open (if the first candle is bearish) OR higher than the first candle's close (if the first candle is bullish).

2. Bearish Engulfing Condition:
  • The second candle's high is higher than the first candle's high.
  • The second candle's close is lower than the first candle's close (if the first candle is bearish) OR lower than the first candle's open (if the first candle is bullish).


โš™๏ธ How to Use:
  1. Add the script to your TradingView chart.
  2. Adjust settings to enable/disable Bullish or Bearish Engulfing patterns.
  3. Enable alerts to receive real-time notifications when a pattern is detected.
  4. Use this indicator to support your technical analysis and trade decisions.


๐Ÿ“Œ Notes:
  • This indicator is best used in combination with other technical analysis tools like support & resistance levels, trendlines, or volume analysis.
  • It works on all timeframes and asset

Penafian

Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.