Engulfing Pinbar [serkany88]This is an experimental candlestick pattern that combines pinbars and engulfing patterns as my own implementation. These signals can be used as a possible reversal points based on timeframe used or set wick size. Of course these signals should never be used on their own but rather can be used as another confluence of possible entry signal.
Functional and Manual alerts provided with simple and clean code.
TLDR: Use as a possible reversal point for your entries in combination with your trend and volatility filters. Green means possible bullish move, Red means possible bearish move.
Yutan Mum
The Candle Hunter Candlestick Pattern - by Karoshi TradingThe Candle Hunter Indicator - by Karoshi Trading
The Candle Hunter Indicator is based on specific Candlesticks and Patterns.
Activating this indicator will mark all specific Bullish & Bearish Candles on the Chart.
Depending on your settings, not all candles will be displayed on the chart.
The goal of this indicator is, to highlight all the important trending candles and ignore all ranging candles.
This can be helpful for rejecting/bouncing zones or S&R Levels. Or even if you like to trade reversals, you do not want to trade it on low volume ranging candles.
This indicator should only be used as a supplementary tool while trading, not as a stand alone.
Which Candles & Pattern will be marked on the chart?
1# Pinbar / Hammer (multiple Variations)
2# Marubozu Candles (multiple Variations)
3# Engulfing Candles (Multiple Variations)
How does this indicator works?
First of all, the indicator has to calculate 3 different parameters, before marking one of the given candle. To do so, we will need the average volume, average candle size and the specific candles.
1st Parameter: Defining the needed Candles
First of all, the indicator will calculate, based on the opening & closing price and also the wick (range of each candle). If one of the calculation is a match, for the mentioned candles above, we come to step 2.
2nd Parameter: Average Candle Size
The next one is the size of each candle, compared to the average candle on the chart.
You can customize the settings, but in this example, we want the specific candle be at least 1.5 times the size of the average last 14 candles.
3rd Parameter: Average Volume
The indicator will now calculate the average volume of the last selected candles period (default settings = 14) and compare it to the current candle. In this example, the current candle should be at least 1.5 times the average volume.
The indicator provides two possibilities to calculate the average volume:
1# Volume MA = Volume Moving Average
2# Volume SA = Volume Simple Average
Result: Colorizing the given Candle
After all parameters were met, the indicator will colorize and mark with a label + name all the candles on the chart.
Special Settings:
1st The Engulfing Candles, have 3 different options:
1# Classic = Only the body of the previous candle has to be engulfed by the current candle
2# Reinforced = The full candle + wick of the previous candle has to be engulfed
3# Multiple Candles = Minimum 3 previous candles has to be engulfed to be marked on the chart
The numbers of candles are changeable and you can have all 3 options simultaneously active.
That means, that the code will check all 3 options to see if there is a match.
2nd Marubozu Candle
You can set the ratio between body compared to wick in the settings. Depends if you want full marubozu candles or also the variations of it.
3rd Hammer Wick
You can decide how much bigger the wick should be, compared to the body of the candle. The default settings are set on 1.5 times.
You can also set the position of the body. As example if the settings are set on 30%, the body of the hammer should be on the upper half of a bullish hammer or the lower 30% of the candle if bearish.
FOREX MASTER PATTERN Companion ToolWhat This Indicator Does
The Forex Master Pattern uses candlesticks, which provide more information than line, OHLC or area charts. For this reason, candlestick patterns are a useful tool for gauging price movements on all time frames. While there are many candlestick patterns, there is one which is particularly useful...
The Engulfing Pattern
An engulfing pattern provides an excellent trading opportunity because it can be easily spotted and the price action indicates a strong and immediate change in direction. In a downtrend, an up candle real body will completely engulf the prior down candle real body (bullish engulfing). In an uptrend a down candle real body will completely engulf the prior up candle real body (bearish engulfing).
Used in conjunction with the FOREX Master Pattern value line, the Engulfing Pattern can assist the trader with reversal timing or trend confirmation during the expansion and trend phases.
As shown in the screenshot below. Engulfing Candles usually precede a sharp move in price in the direction of the engulfing candle.
As shown in the screenshot below, when the Show Lines option is ON while using the indicator, both red and green lines are drawn on the chart automatically when engulfing candles form. These lines are projected forward 100 bars and tend to be reliable support and resistance areas. These areas are typically hidden from view.
In addition to the Show Lines option, the indicator (by default) creates boxes around trading zones that are created when an engulfing candle is formed. (There is an option to hide these from view if desired).
As seen in the screenshot below, these areas / zones are wider than a line and encompass a resistance / support zone rather than a specific price. Liquidity is usually high in these areas and a lot of selling / buying occurs here. These zones are drawn in advance out into the future giving the trader an idea of where price will revert to eventually.
A combination of LINES and AREAS can be used giving the user a better idea of where within the zone price will go.
As seen on the screenshot below, this combination provides a pretty accurate indication of the reversal point well in advance.
As seen in the screenshot below, when a ZONE / AREA has been fully breached (crossed) by price, the area is deactivated an no longer continues forward on the chart. Until price breaches an area, it remains valid and continues on the chart until and only if it is breached by price.
The Indicator is fully customizable.
The use can change the color of the engulfing candles, the color of the zones, transparency etc. You can turn OFF or ON any of the features such as lines, zones, bar coloring, and plotted arrows.
I really hope you get value from this indicator and... HAPPY TRADING!!
AI-EngulfingCandleThis script is the combination of RSI and Engulfing Pattern
How it works
1. when RSI > 70 and form the bullish engulfing pattern . it gives sell signal
2. when RSI < 30 and form the bearish engulfing pattern . it gives buy signal
settings:
basic setting for RSI has been enabled in the script to set the levels accordingly to your trades
Engulfing Candles (Bullish and Bearish) + Trend | by Octopu$⛳ Engulfing Candles (Bullish and Bearish ) with Trend Recognition | by Octopu$
This Indicator identifies and plots Engulfing Candlestick Patterns.
Engulfing Candles are a combination of two bars on a price chart.
They are used to indicate/anticipate a market reversal.
The second candlestick must be bigger than the first, so it 'engulfs' the previous bar.
This indicator identifies both Price Movements:
Bullish stands for Upside
Bearish stands for Downside
These are NOT entry/exit signals to buy or sell securities*
(*The combination of your understanding and analysis as well as other Indicators and Factors as Confluence, you can improve your Charting Analysis.)
www.tradingview.com
SPY
ANY Ticker. ANY Timeframe.
( SPY 5m as an example only.)
Features:
• Engulfing Candles
• Bullish Setups
• Bearish Setups
• Symbol Signals
Options:
• Color Picker
• Symbol Selector
• Toggle On/Off
• Show name
• Trend Direction
Notes:
v1.0
Indicator release.
Changes and updates can come in the future for additional functionalities or per requests. Follow and Stay Tuned!
Did you like it? Please Support and Shoot me a message! I'd appreciate if you dropped by to say thanks! Thank you.
- Octopu$
🐙
Liquidity Engulfing Candles [upslidedown]Liquidity engulfing candles (LEC) are a variant of a common candlestick pattern: engulfing candles but with a couple extra conditions applied. These conditions expect highs/lows to be taken out in order to show a continuation or reversal signal.
Filter 1: Stop Hunt Wick Filter
This filter requires the candle to wick into the prior candles high or low ( bullish = wick below prior candle lows). This is the stop hunt.
Filter 2: Close Filter
This filter requires the candle to close above or below above the prior candle ( bullish = close above prior candle high). This is the confirmation.
This idea was introduced to me by @attrk632. Thanks, mate!
Candlestick Channels [LuxAlgo]Candlestick Channels return channels whose extremities converge towards the price when a corresponding candlestick pattern is detected. This allows for us to obtain more reactive extremities in the presence of a cluster of candlestick patterns.
The detected candlestick patterns are also highlighted with labels on your chart automatically.
Settings
Trend Length: Period of the stochastic oscillator used to determine trend sentiment; this sentiment is used to detect certain candlestick patterns.
Convergence: Convergence percentage of the channel extremities used during the occurrence of a candlestick pattern. A lower value will return extremities converging more slowly toward the price.
Smooth: Determines the degree of smoothness of the channel extremities.
Patterns
This category determines which patterns are detected by the indicator. Patterns toggled off will not be detected and won't affect the channels.
Usage
Candlesticks patterns are commonly used by traders to detect potential reversals or continuation periods in the price. It can be of interest to use them as core elements in the calculation of more classical indicators, this can allow us to filter out potential false signals returned by candlestick patterns by shifting the source of interpretation towards the channel extremities instead.
In this indicator extremities converge towards the price when a corresponding pattern is detected. As such bullish patterns will make the upper extremity converge towards the price, facilitating a cross with price. Using a lower convergence percentage will require a greater number of patterns to make the extremity converge closer towards the price.
Users can use the channel like most indicators returning extremities, with an uptrend being detected when price cross over the upper extremity and a downtrend being detected when price cross under the lower extremity.
An approach solely making use of crosses between the price and the average line can be used but the user should expect further whipsaws signals.
Users can eventually use the candlestick patterns as entries and use the extremities for confirmation. For example, users can follow a candlestick pattern return an indication in accordance with the detected trend by the channels.
This approach would lead to the following of bullish patterns when they occur in an uptrend, that is when the price is above the average line (in orange). The same logic applies to bearish patterns.
The chart above highlights the candlesticks patterns in accordance with a detected trend.
Notes
- Bullish/Bearish engulfing patterns are turned off by default due their more frequent appearance.
- Candlestick patterns relying on gaps were not included, since they would be more uncommon in cryptocurrencies, thus leading to a disparity between the indicator performance on the cryptocurrency and stock market.
Engulfing Candles AlertThis is a Engulfing Candle Indicator with Alerts.
This is not like any other Engulfing candle indicator present on TV. There are some special rules that are being used to identify specific engulfing candles.
Also, the user can choose if they like nice body engulfing or they want to ignore them.
The indicator have the following highlights:
1) Ability to choose the color of the engulfing candle body.
2) Ability to choose a different color for the Liq (liquidity) swap engulfing candle body.
Bullish Engulfing after Liq Swap
Bearish Engulfing after Liq Swap
3) With above 2 options, you can get the desired information without plotting any extra information on the chart.
4) You can put the alerts for getting notified when these patterns forms on the chart.
5) Ability to choose between getting notified or not on the chart if the engulfing candle body is less than 40% of the whole candle size. This is useful in order to identify if the engulfing is really powerful or not.
After selecting the option to ignore such engulfing
6) Ability to choose between getting notified or not on the chart if the engulfed candle body is really small. This is in particular useful for avoiding the engulfing of Doji which in turn might not be that powerful.
After selecting the option to ignore such engulfing
We will keep on making the improvements/Enhancements over the time (Check the changelog for such features)
NOTE: The indicator is of best use if you have a defined & back tested strategy which relies on this type of candlestick pattern.
Bullish Engulfing AlertThis is a Bullish Engulfing Candle Indicator with Alerts.
This is not like any other Bullish Engulfing candle indicator present on TV. There are some special rules that are being used to identify specific engulfing candles.
Also, the user can choose if they like nice body engulfing or they want to ignore them.
The indicator have the following highlights:
1) Ability to choose the color of the engulfing candle body.
2) Ability to choose a different color for the Liq (liquidity) swap engulfing candle body.
3) With above 2 options, you can get the desired information without plotting any extra information on the chart.
4) You can put the alerts for getting notified when these patterns forms on the chart.
5) Ability to choose between getting notified or not on the chart if the engulfing candle body is less than 40% of the whole candle size. This is useful in order to identify if the engulfing is really powerful or not.
6) Ability to choose between getting notified or not on the chart if the engulfed candle body is really small. This is in particular useful for avoiding the engulfing of Doji which in turn might not be that powerful.
We will keep on making the improvements/Enhancements over the time (Check the changelog for such features)
NOTE: The indicator is of best use if you have a defined & back tested strategy which relies on this type of candlestick pattern.
Bearish Engulfing AlertThis is a Bearish Engulfing Candle Indicator with Alerts.
This is not like any other Bearish Engulfing candle indicator present on TV. There are some special rules that are being used to identify specific engulfing candles.
Also, the user can choose if they like nice body engulfing or they want to ignore them.
The indicator have the following highlights:
1) Ability to choose the color of the engulfing candle body.
2) Ability to choose a different color for the Liq (liquidity) swap engulfing candle body.
3) With above 2 options, you can get the desired information without plotting any extra information on the chart.
4) You can put the alerts for getting notified when these patterns forms on the chart.
5) Ability to choose between getting notified or not on the chart if the engulfing candle body is less than 40% of the whole candle size. This is useful in order to identify if the engulfing is really powerful or not.
6) Ability to choose between getting notified or not on the chart if the engulfed candle body is really small. This is in particular useful for avoiding the engulfing of Doji which in turn might not be that powerful.
We will keep on making the improvements/Enhancements over the time (Check the changelog for such features)
NOTE: The indicator is of best use if you have a defined & back tested strategy which relies on this type of candlestick pattern.
Bullish & Bearish EngulfingA simple script to filter out bullish and bearish engulfing candles. Size of candles can be filtered.
Engulfing Candle Marker (Full Candle)A simple indicator that marks FULL CANDLE engulfing candles...
current high > previous high
current low < previous low
bullish: close > open (triangle below)
bearish: close < open (triangle above)
A lot of the engulfing indicators available are body only. I created a FULL CANDLE indicator because that's what I prefer using.
Can be useful for spotting both reversal and continuation price action. Always have a complete trading plan and backtest it for yourself, engulfing candles in themselves to not guarantee a profit.
You are more powerful than you know...keep expanding!
Watchlist Screening Hammer & Engulfing Strategies [By MUQWISHI]A trading strategy screener is an idea of a visual alert for those who're trading particular strategies and facing a lack of capability of monitoring many symbols simultaneously, so this kind of tool could be more efficient to keep managing trading plans smoothly and quickly. I developed this screener as an idea more than providing legend strategies.
This screener indicator performs scanning 4 different strategies with customizable 10 symbols inputs, and 5 min is the preferable timeframe.
Strategies
1. Hammer at Low of the day.
2. Shooting Star at High of the day.
3. Bull Engulfing at Low of the day.
4. Bear Engulfing at High of the day.
Screener Overview
Disclaimer
I'm an amateur, and I'm not a qualified licensed investment advisor.
I don't recommend the use of showing signals as a sole means of trading decisions.
3 Line Strike [TTF]This indicator is a spin-off of the popular TMA Overlay indicator made by request of the original author that narrows down the scope to simply identifying a couple of key candlestick patterns - Engulfing candles and 3 Line Strikes.
In addition to being a far more tailored and purpose-specific indicator, we have also update the indicator code to the latest version of Pinescript and added some enhanced alerts.
Dante Bullish/Bearish EngulfingBearish and Bullish engulfings as taught by Tom Dante Piccin. Different from other bullish/bearish engulfing indicators because other indicators only want the body of the current candle to engulf the previous body.
This indicator needs the low and high of the current candle to engulf the previous one and also in the example of a bullish engulfing close above the previous candle high or in a bearish engulfing example close below the low of the previous candle.
Neo's Divergence FractalsDivergence Fractals combine divergence candlestick patterns with concepts pioneered by Bill Williams and George Lane to create a precise trend following tool that responds very well to the FX market. This indicator is built off of my Neo Fractal data set, which unlike traditional Williams fractals, track highest and lowest closes instead of higher highs and lower lows. Through my own research, I've found Neo Fractals to be a much more accurate way of pinpointing %K and RSI extremes than Williams fractals, especially in scenarios where markets make higher highs or lower lows, but fail to close higher or lower. This can lead to false divergence signals because the stochastic and RSI values aren't referenced at their highest or lowest point.
If divergence is detected between the previous close and the closest fractal above or below the close, the script then waits for a close above (bullish), or below (bearish) the close where divergence was present, at which point, an up (bullish) or down (bearish) fractal will appear on the chart. Divergence signals followed by engulfing candles are also colored, so they're easy to spot. These are the highest quality reversal or in some cases trend continuation signals! Divergence Fractals can be a great entry tool, but can also be great for managing and closing active trades as well. This indicator was designed to work in tandem with my %K as well as my proprietary Lucky7 indicator, mainly on the 1HR chart.
Volume Impulse & Candlestick Patterns - FontiramisuIndicator showing volume impulse & engulfing candlestick pattern.
You can set up multiple parameter for both events.
Volume Impulse :
Volume Period : Lenght of the average volume calculated.
Volume Multiplier : Factor to compare actual volume with average volume.
Engulfing Pattern :
VS avg body : Let you chose to compare body candle to average body of the last few candles (define with parameter : lenghtSizeAvgBody ), otherwise it will be compared to the last body candle.
Engulfing Multiplier : Factor to compare and validate the pattern.
Glow Node EngulfingThis indicator show's you when you have a three line strike engulfing candle,
Showing you easily by changing the colour of the candle and displaying a diamond above or below to indicate whether it was a bulling or bearish signal.
How To Use
Simply add to your screen and allow the indicator do its thing
Click the three dots to the side of the indicator and bring visual order to front to ensure candle colour can chane.
Titans Engulfing Retracement ZonesThe Titan Engulfing Retracement Zones indicator detects Engulfing Candlesticks on a higher user defined timeframe, and uses that event to plot retracement and extension levels on the chart for ease of users' chart reading and trade execution. The four retracement levels, two of which delimit the target entry zone, and another two delimiting the target exit zone, are also user defined.
The user of this indicator is advised that the default levels provided are unoptimized. The user of this indicator is advised to use this indicator at his or her own risk.
To further filter out the results of Engulfing Candlestick detection, a long wick condition has been included into the detection mechanics.
Smarter Pullback + Candlestick Pattern (Steven Hart)Built with love "Smarter Pullback + Candlestick Pattern"
This indiator will help you to find a Pullback + Candlestick Pattern, inspirated by Steven Hart
You can combine with your own strategy, or use this purely
DISCLAIMER :
Measure the risk first before use it in real market
Backtest The Strategy was very important, so you know the probability
Fundamentally Logical :
Pullback (Some Previous candle is Red for Bull Pullback vice versa)
the Entry candle must be a Candlestick Pattern
Features :
1. Engulfing
2. Hammer & Shooting Star
3. Doji
How to use it :
1. Adjust the Pullback Period
2. Check and Uncheck the Pattern you want to see
3. Adjust the style to your favourite
Regards,
Hanabil
Smart Patterns Lite - Engulf EditionHi Traders! Welcome to Smart Patterns Lite - Engulf Edition
This lite version of Smart Patterns script specifically focuses on different Engulfing Pattern approaches, and tracks their performance and success rate over time.
Key Features
This edition includes TradingView's Engulfing Pattern as well as two custom ones: Engulf (Trend) and Engulfing (Advanced)
When a Pattern reaches the Min. Target % within the Candles Range selected, it is then considered valid. Please remember that doesn't take into account possible draw-downs or stop-losses.
Patterns are constantly evaluated inside the script; when a pattern's overall score (Success Rate %) is below the required minimum, the signal won't be triggered. However, the script will keep monitoring it in the background, and trigger a signal again when its score comes back above the minimum Success Rate.
The Patterns' signals can be filtered by Success Rate, Minimum Patterns detected and candle size (calculated via ATR).
The Data Panel will show individual statistics for Enabled Patterns as well as final statistics for Triggered Patterns.
Tooltips in the settings panel will further explain available options.
Alerts: simple alerts can be added by selecting "any alert() function call" when adding an Alert. Customizable alerts can also be created through dropdown menu ( Bullish \ Bearish Patterns Detected).
Notes and Recommendations
Always be realistic when tweaking settings, making sure the output makes sense in a normal trading environment. Statistics are helpful but shouldn't be the only factor to base your decisions on - even if a pattern reaches 100% Success Rate, it doesn't mean it will keep being profitable.
Since the script crunches quite some data it may give output errors especially if settings are not properly tweaked - or if the filters are too liberal (e.g. Min Target % set to 0.1) - hence triggering lots of signals. Please adjust the settings or enable only the Patterns you are trading.
If the script gives the error "Too many drawings, cannot clean oldest" it means your settings give too many signals and that is usually not a good sign - it's recommended to double-check your settings as mentioned above.
Credits
Trading View for built-in patterns
Special thanks go to PineCoders community for their incredible efforts and learning material to help mastering PineScript!
Smart PatternsHi Traders, and welcome to Smart Patterns.
Patterns can be very profitable, yet hard to trade, even when combined with other indicators and techniques. This script aims to increase the accuracy of signals by adding a statistical approach to candle patterns, along with tools to filter them.
For example, if the Success Rate is above a certain threshold, it means that the pattern has resulted in a higher ratio of profitable trades and hence it has a higher likelihood of succeeding in the current market conditions. However, should that pattern fall below the desired Success Rate, the script will "hide" it and won't trigger a signal, but still keeping track of its performance to start firing it again when coming back above the Success Rate.
Key Features
The script features custom patterns as well as some of TradingView's built-in patterns. Not all patterns can be added of course, but let me know if I missed other interesting ones and I will do my best to add them in future updates.
When a Pattern reaches the Min. Target % within the Candles Range selected, it is then considered valid. Please remember that doesn't take into account possible draw-downs or stop-losses.
Patterns are constantly evaluated inside the script; when a pattern's overall score (Success Rate %) is below the required minimum, the signal won't be triggered. However, the script will keep monitoring it in the background, and trigger a signal again when its score comes back above the minimum Success Rate.
The Patterns' signals can be filtered by Success Rate, Minimum Patterns detected and candle size (calculated via ATR).
The Data Panel will show individual statistics for Enabled Patterns as well as final statistics for Triggered Patterns.
Tooltips in the settings panel will further explain available options.
Alerts: simple alerts can be added by selecting "any alert() function call" when adding an Alert. Customizable alerts can also be created through dropdown menu ( Bullish \ Bearish Patterns Detected).
Fully customizable to adapt to light and dark themes
Notes and Recommendations
Always be realistic when tweaking settings, making sure the output makes sense in a normal trading environment. Statistics are helpful but shouldn't be the only factor to base your decisions on - even if a pattern reaches 100% Success Rate, it doesn't mean it will keep being profitable.
Since the script crunches quite some data it may give output errors especially if settings are not properly tweaked - or if the filters are too liberal (e.g. Min Target % set to 0.1) - hence triggering lots of signals. Please adjust the settings or enable only the Patterns you are trading.
If the script gives the error "Too many drawings, cannot clean oldest" it means your settings give too many signals and that is usually not a good sign - it's recommended to double-check your settings as mentioned above.
Credits
Trading View for built-in patterns
Special thanks go to PineCoders community for their incredible efforts and learning material to help mastering PineScript!
Next-Gen Engulfing Retracement█ OVERVIEW
If you follow my work closely, you know my obsession with OrderBlocks and Retracements. We will reuse the same logic,
but using candle engulfments and candle engulfment reversals. It is the latter that we will interpret as OrderBlocks, and candle engulfments as
buy or sell signals.Instead of using the price and the average of the candles, here we prefer to use 4 exponential moving averages over 4 different
periods with a true range for detecting volatility and determining if a candle should be considered engulfed or not.
(note : if you know the principle of candle engulfment you should know that a bullish engulfment does not necessarily mean a buy signal).
█ HOW TO INTERPRET?
1 • We use last detected 'Bearish/Bullish Reversal Engulfing Candle' as an Retracement Level.
(Keep in mind Historical Retracements with extended lines is still useful and can still have an impact on the actual trend).
2 • We use 'Bearish/Bullish Candle' as confirmation of entry point.
3 • You can play with the 'Maximum Volatility' value or the 'True Range' Multiplier value to filter detected engulfing as you want.
4 • HTF and Auto HTF option available.
5 • Everything is customizable in settings (show inputs, colors, lines size etc...)
6 • Alerts is available for Engulfing Candle and Crossing Lines.
█ NOTES
- This script is not beginner's Level and is intended for Traders with advanced knowledge of Candlestick Patterns and the work of Michael j. Huddleston on the OrderBlocks.
Good Trade everyone and remember, risk management remains the most important!
