Engulfing Pattern Detector + Optional Filters

13 saat önce

Description

This indicator highlights bullish and bearish engulfing candle patterns with optional confirmation filters for volume, momentum, and volatility.
It is designed as a technical analysis and educational tool, allowing users to study price behavior across different markets and timeframes.

Why This Indicator Is Different

Many engulfing indicators mark every textbook pattern, which can result in excessive chart noise.
This script adds optional filters that allow users to focus on engulfing candles occurring under more relevant market conditions, such as increased activity, directional momentum, or sufficient volatility.

All filters are fully optional and disabled by default, so users can start with pure price-action patterns and progressively add context based on their analysis style.

Key Features

• Bullish & bearish engulfing pattern detection
  
• Optional volume, RSI, MACD, and ATR filters
  
• Higher-timeframe momentum context
  
• Customizable inputs for flexibility
  
• Visual chart markers and optional alerts
  

Inputs Overview

• Engulfing body size and ratio settings
  
• Volume confirmation options
  
• Higher-timeframe RSI & MACD settings
  
• ATR-based volatility filter
  

All filters are disabled by default and can be enabled as needed.

How to Use

1. Add the indicator to your chart
   
2. Observe raw engulfing patterns
   
3. Enable filters for additional context
   
4. Use alongside other technical analysis tools
   

**Disclaimer**

This indicator is provided strictly for educational and informational purposes. It does not constitute financial, investment, trading, or other professional advice.

All calculations, visualizations, and signals produced by this indicator are derived solely from historical price data. No representation is made that the indicator can predict future market behavior or outcomes. Any interpretations drawn from its output are the sole responsibility of the user.

Trading and investing involve substantial risk, including the possible loss of all or more than the initial capital. Market conditions can change rapidly, and past market behavior, patterns, or indicator performance do not guarantee similar results in the future.

The informational markers, alerts, dashboard readings, and histogram values generated by this indicator are not trade recommendations and should not be used as the sole basis for making trading decisions. Users are encouraged to combine this tool with their own analysis, risk management, and confirmation methods.

The author assumes no responsibility or liability for any trading decisions, losses, or damages resulting directly or indirectly from the use of this indicator. By using this script, you acknowledge that you are solely responsible for your trading decisions and outcomes.

Use at your own risk.

13 saat önce

Sürüm Notları

updated chart preview