OPEN-SOURCE SCRIPT
Updated Engulfing Pinbar [serkany88]
This is an experimental candlestick pattern that combines pinbars and engulfing patterns as my own implementation. These signals can be used as a possible reversal points based on timeframe used or set wick size. Of course these signals should never be used on their own but rather can be used as another confluence of possible entry signal.
Functional and Manual alerts provided with simple and clean code.
TLDR: Use as a possible reversal point for your entries in combination with your trend and volatility filters. Green means possible bullish move, Red means possible bearish move.
Functional and Manual alerts provided with simple and clean code.
TLDR: Use as a possible reversal point for your entries in combination with your trend and volatility filters. Green means possible bullish move, Red means possible bearish move.
Release Notes
- Added opposite wick filter as a modifyable input. Next update will most likely be MTF functionality with alerts.Release Notes
Added HTF functionality that draws the candle on lower timeframe if an EP pattern is found. Alerts also adapted according to it. Happy hunting.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.
For quick access on a chart, add this script to your favorites — learn more here.
One does not simply win every trade.
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.
For quick access on a chart, add this script to your favorites — learn more here.
One does not simply win every trade.
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.