C BullEng BearEng
Revision as of 15:25, 6 October 2021 by Svetlana MultiCharts (talk | contribs) (Created page with "The indicator displays a plot corresponding to '''Bullish Engulfing''' and '''Bearish Engulfing''' candlestick patterns.<br> '''Bullish Engulfing''' is defined as: * The body...")
The indicator displays a plot corresponding to Bullish Engulfing and Bearish Engulfing candlestick patterns.
Bullish Engulfing is defined as:
- The body of a green candle is larger and engulfs both the open and close of a red candle on the previous bar
- The price trend is declining
- The body of the green candle is greater than the average body
Bearish Engulfing is defined as:
- The body of a red candle is larger and engulfs both the open and close of a green candle on the previous bar
- The price trend is advancing
- The body of the red candle is greater than the average body
Default Inputs
Length (14) sets the length used to calculate the average body.