OPEN-SOURCE SCRIPT
Engulfing Strategy
This indicator has the following key features:
- Detects bullish and bearish engulfing candlestick patterns using a well-established price and body comparison logic.
- Incorporates a customizable moving average filter with multiple smoothing options to confirm trend direction.
- Highlights both the current and previous candles involved in the engulfing pattern by coloring them distinctly, improving visual clarity for reversal signals.
- Offers an interchangeable mode allowing the user to switch between a fully automated trading strategy (entries and exits) and a simple indicator mode (signal and color visualization only).
- Supports pyramiding positions and accounts for commissions and initial capital for realistic strategy testing.
- Uses modern Pine Script v5 functions and syntax for reliable and efficient execution.
- Provides clear visual bar colors for bullish (orange) and bearish (yellow) engulfing signals.
- Allows configuration of MA type and period, adapting to various trading styles and assets.
These features make it a versatile tool for traders seeking both visual confirmation and automated trade execution based on engulfing candle patterns combined with trend filtering.
by tumiza999
- Detects bullish and bearish engulfing candlestick patterns using a well-established price and body comparison logic.
- Incorporates a customizable moving average filter with multiple smoothing options to confirm trend direction.
- Highlights both the current and previous candles involved in the engulfing pattern by coloring them distinctly, improving visual clarity for reversal signals.
- Offers an interchangeable mode allowing the user to switch between a fully automated trading strategy (entries and exits) and a simple indicator mode (signal and color visualization only).
- Supports pyramiding positions and accounts for commissions and initial capital for realistic strategy testing.
- Uses modern Pine Script v5 functions and syntax for reliable and efficient execution.
- Provides clear visual bar colors for bullish (orange) and bearish (yellow) engulfing signals.
- Allows configuration of MA type and period, adapting to various trading styles and assets.
These features make it a versatile tool for traders seeking both visual confirmation and automated trade execution based on engulfing candle patterns combined with trend filtering.
by tumiza999
Script open-source
Dans l'esprit de TradingView, le créateur de ce script l'a rendu open-source, afin que les traders puissent examiner et vérifier sa fonctionnalité. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Script open-source
Dans l'esprit de TradingView, le créateur de ce script l'a rendu open-source, afin que les traders puissent examiner et vérifier sa fonctionnalité. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.