OPEN-SOURCE SCRIPT
Updated Actually Engulfing Candlesticks
This thing attempts to find price reversals with actually engulfing candlesticks with volume spikes and RSI values as confirmation. It works well on mean reverting assets I guess.
Green dots below bars = bullish reversal
Fuchsia dots above bars = bearish reversal
Have fun!
Green dots below bars = bullish reversal
Fuchsia dots above bars = bearish reversal
Have fun!
Release Notes
Add toggles to turn on and off bullish and bearish engulfing signals. The toggles also affect the alert conditions.Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.