Engulfing Pattern Indicator – Description

The Engulfing Pattern Indicator detects bullish and bearish engulfing candlestick patterns, which signal potential trend reversals.

How It Works

🔍 Bullish Engulfing:

• The previous candle is bearish (close < open).
• The current candle is bullish (close > open).
• The bullish candle engulfs the previous candle’s body (open < previous close & close > previous open).
• Green marker is plotted below the pattern.

🔍 Bearish Engulfing:

• The previous candle is bullish (close > open).
• The current candle is bearish (close < open).
• The bearish candle engulfs the previous candle’s body (open > previous close & close < previous open).
• Red marker is plotted above the pattern.

Key Features

✅ Identifies strong reversal signals in price action.
✅ Works on all timeframes and markets (Forex, Stocks, Crypto).
✅ Helps traders spot high-probability trade setups at key levels.

📌 Best Use: Combine with support/resistance and trend analysis for higher accuracy! 🚀