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  • Engulfing Pattern v2

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    daniel nyamandi
    30 views2 pages
    This document defines an indicator for identifying bullish and bearish engulfing candlestick patterns within a specified trading time frame. It includes inputs to define the start and end hours of the trading day and functions to check for the engulfing pattern conditions. The indicator then plots shapes on the chart to mark periods where an engulfing pattern occurred during the trading time frame.

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    engulfing pattern v2

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    This document defines an indicator for identifying bullish and bearish engulfing candlestick patterns within a specified trading time frame. It includes inputs to define the start and end hours of the trading day and functions to check for the engulfing pattern conditions. The indicator then plots shapes on the chart to mark periods where an engulfing pattern occurred during the trading time frame.

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    © All Rights Reserved
    Download as RTF, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    30 views2 pages

    Engulfing Pattern v2

    Uploaded by

    daniel nyamandi
    This document defines an indicator for identifying bullish and bearish engulfing candlestick patterns within a specified trading time frame. It includes inputs to define the start and end hours of the trading day and functions to check for the engulfing pattern conditions. The indicator then plots shapes on the chart to mark periods where an engulfing pattern occurred during the trading time frame.

    Copyright:

    © All Rights Reserved
    Download as RTF, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 2

    //@version=5

    indicator("Engulfing Pattern with Time Filter", shorttitle="Engulfing Time Filter", overlay=true)

    // Trading Time Filter

    tradingStartHour = input(8, title="Trading Start Hour (Local Time)", minval=0, maxval=23)

    tradingStartMin = input(0, title="Trading Start Minute", minval=0, maxval=59)

    tradingEndHour = input(18, title="Trading End Hour (Local Time)", minval=0, maxval=23)

    tradingEndMin = input(0, title="Trading End Minute", minval=0, maxval=59)

    // Function to check for bullish engulfing pattern

    isBullishEngulfing() =>

    open_prev = request.security(syminfo.tickerid, "D", open[1])

    close_prev = request.security(syminfo.tickerid, "D", close[1])

    open_curr = open

    close_curr = close

    bullish_engulfing = (close_curr > open_curr) and

    (open_curr <= open_prev) and

    (close_curr >= close_prev)

    // Function to check for bearish engulfing pattern

    isBearishEngulfing() =>

    open_prev = request.security(syminfo.tickerid, "D", open[1])

    close_prev = request.security(syminfo.tickerid, "D", close[1])

    open_curr = open
    close_curr = close

    bearish_engulfing = (close_curr < open_curr) and

    (open_curr >= open_prev) and

    (close_curr <= close_prev)

    // Trading Time Filter Condition

    trading_time_filter = (time >= timestamp(syminfo.timezone, tradingStartHour, tradingStartMin)) and

    (time <= timestamp(syminfo.timezone, tradingEndHour, tradingEndMin))

    // Plotting the patterns

    plotshape(isBullishEngulfing() and trading_time_filter, style=shape.labelup, location=location.belowbar,


    color=color.green, size=size.small, title="Bullish Engulfing")

    plotshape(isBearishEngulfing() and trading_time_filter, style=shape.labeldown,


    location=location.abovebar, color=color.red, size=size.small, title="Bearish Engulfing")

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