Engulfing Pattern Indicator

4.0
03/09/2025
224
Desktop

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! 🚀
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