Engulfing Candles Alert

21. Aug. 2022

This is a Engulfing Candle Indicator with Alerts.
This is not like any other Engulfing candle indicator present on TV. There are some special rules that are being used to identify specific engulfing candles.
Also, the user can choose if they like nice body engulfing or they want to ignore them.


The indicator have the following highlights:

1) Ability to choose the color of the engulfing candle body.
2) Ability to choose a different color for the Liq (liquidity) swap engulfing candle body.
Bullish Engulfing after Liq Swap

Bearish Engulfing after Liq Swap

3) With above 2 options, you can get the desired information without plotting any extra information on the chart.
4) You can put the alerts for getting notified when these patterns forms on the chart.
5) Ability to choose between getting notified or not on the chart if the engulfing candle body is less than 40% of the whole candle size. This is useful in order to identify if the engulfing is really powerful or not.

After selecting the option to ignore such engulfing

6) Ability to choose between getting notified or not on the chart if the engulfed candle body is really small. This is in particular useful for avoiding the engulfing of Doji which in turn might not be that powerful.

After selecting the option to ignore such engulfing



We will keep on making the improvements/Enhancements over the time (Check the changelog for such features)


NOTE: The indicator is of best use if you have a defined & back tested strategy which relies on this type of candlestick pattern.

27. Dez. 2022

Versionshinweise

Update:
1) Option added to define engulfing look back period in settings. Now user can choose to define the # of candles for checking the lowest low before identifying the bullish engulfing and highest high in case of bearish engulfing.
2) Compare Body Average size of engulfing defined by a user defined % value for identifying engulfing candle. Helps to ignore the engulfing candles with relatively small body as compared to total candle size.
3) Compare Body Size of engulfed candle defined by a % value for identifying engulfing candle. Helps to ignore dojis type of candles if engulfed.
4) Compare the wick size before identifying a candle as engulfing. Help to check if engulfing candle has not retraced back more than normal (depending on the defined multiplier) and hence may be considered as weak engulfing.

5. Feb. 2023

Versionshinweise

Update:
1) Option added to detect engulfing based on body plus wick i.e. if the engulfing candle engulfs both body & wick of the previous candle.
2) Option added for adding the single alert for both bullish and bearish engulfing candles.

3. Okt. 2024

Versionshinweise

Update:
1) Option added to detect ChOC in the chart by printing the line on the chart.
2) Color & transparency of ChOC line is customizable.
3) Alerts can be set for Bullish or Bearish ChOC.
4) Historical ChOC can be hide or displayed on the charts.