PROTECTED SOURCE SCRIPT
Engulfing 3x Pattern
Description:
The "Engulfing 3x Pattern" indicator identifies bullish and bearish engulfing candlestick patterns where the engulfing candle's body is at least three times larger than the body of the previous candle. This highlights significant momentum shifts in the market, focusing solely on body size (open to close), ignoring wicks.
Bullish Engulfing: A bearish candle (close below open) is followed by a larger bullish candle (close above open) that fully engulfs the prior candle’s body and has a body at least 3x larger. Marked with a green triangle below the bar.
Bearish Engulfing: A bullish candle (close above open) is followed by a larger bearish candle (close below open) that engulfs the prior candle’s body and has a body at least 3x larger. Marked with a red triangle above the bar.
How It Works:
This indicator scans for engulfing patterns and applies a size filter to ensure the engulfing candle demonstrates strong conviction. It’s useful for traders looking for potential reversals or continuation signals backed by significant price movement. The 3x multiplier can be adjusted in the code (e.g., to 2x or 5x) for customization.
Usage Tips:
Best used with confirmation from support/resistance levels, trends, or other indicators.
More reliable on higher timeframes (e.g., daily, 4-hour).
Signals are purely price-based; consider volume or momentum indicators for additional context.
The "Engulfing 3x Pattern" indicator identifies bullish and bearish engulfing candlestick patterns where the engulfing candle's body is at least three times larger than the body of the previous candle. This highlights significant momentum shifts in the market, focusing solely on body size (open to close), ignoring wicks.
Bullish Engulfing: A bearish candle (close below open) is followed by a larger bullish candle (close above open) that fully engulfs the prior candle’s body and has a body at least 3x larger. Marked with a green triangle below the bar.
Bearish Engulfing: A bullish candle (close above open) is followed by a larger bearish candle (close below open) that engulfs the prior candle’s body and has a body at least 3x larger. Marked with a red triangle above the bar.
How It Works:
This indicator scans for engulfing patterns and applies a size filter to ensure the engulfing candle demonstrates strong conviction. It’s useful for traders looking for potential reversals or continuation signals backed by significant price movement. The 3x multiplier can be adjusted in the code (e.g., to 2x or 5x) for customization.
Usage Tips:
Best used with confirmation from support/resistance levels, trends, or other indicators.
More reliable on higher timeframes (e.g., daily, 4-hour).
Signals are purely price-based; consider volume or momentum indicators for additional context.
受保护脚本
此脚本以闭源形式发布。 但是，您可以自由使用，没有任何限制 — 了解更多信息这里。
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。
受保护脚本
此脚本以闭源形式发布。 但是，您可以自由使用，没有任何限制 — 了解更多信息这里。
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。