Candle Engulfing Detector

Engulfing Candle:
An engulfing candle is a candlestick pattern that signals a potential reversal in the market. It occurs when the body of the current candle completely “engulfs” the body of the previous candle, ignoring the wicks. This pattern indicates a strong shift in momentum.

Bullish Engulfing | Bull.E:

• The current candle is bullish (close > open) and fully engulfs the body of the previous bearish candle (open > close).
  
• Signals potential upward reversal.
  
• Stronger if formed near support levels or after a prolonged downtrend.
  

Bearish Engulfing | Bear.E:

• The current candle is bearish (close < open) and fully engulfs the body of the previous bullish candle (close > open).
  
• Signals potential downward reversal.
  
• Stronger if formed near resistance levels or after a prolonged uptrend.
  

Feature:
This indicator improves the detection of this pattern by:

1. Automatically identifying engulfing candles on the chart.
   
2. Allowing the user to select how many engulfing patterns should be displayed, which helps avoid chart clutter and focus on recent or relevant signals.