HPotter

Bullish Engulfing automatic finding script

Hi
Let me introduce my Bullish Engulfing automatic finding script.
This is a bullish reversal pattern formed by two candlesticks . Following a downtrend,
the first candlestick is a down candlestick which is followed by an up candlestick
which has a long real body that engulfs or contains the real body of the prior bar.
The Engulfing pattern is the reverse of the Harami pattern.

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Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

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////////////////////////////////////////////////////////////
//  Copyright by HPotter v1.0 01/04/2014
//
//    This is a bullish reversal pattern formed by two candlesticks. Following a downtrend, 
//    the first candlestick is a down candlestick which is followed by an up candlestick 
//    which has a long real body that engulfs or contains the real body of the prior bar. 
//    The Engulfing pattern is the reverse of the Harami pattern. 
////////////////////////////////////////////////////////////

study(title = "Bullish Engulfing", overlay = true)
barcolor(open[1] > close[1] ? close > open ? close >= open[1] ? close[1] >= open ? close - open > open[1] - close[1] ? yellow :na :na : na : na : na)