This indicator will show on the graph all the bullish end/or bearish engulfing candles with :

• Light green arrow under bullish engulfing
• Light red arrow above bearish engulfing

Can be used on all timeframe from the smallest to the largest.

The criteria, characteristics, of the engulfings candles are adjustables in a very simple way and without having to modify any line of the code. Just click on “Configure” 🔧 to  change many settings.

The configurables criterias are :

• BullishEngulfing = Enabling bullish engulfings, Checked = Activated / Unchecked = Disactivated. When this setting is disactivated bullish engulfings won’t be displayed.
• BearishEngulfing = Enabling bearish engulfings, Checked = Activated / Unchecked = Disactivated. When this setting is disactivated bearish engulfings won’t be displayed.
• WicksIncluded = filtering to display engulfings only if they engulf the entire previous candle, wicks included. Checked = Activated / Unchecked = Disactivated,
• Last3ClosingsInTrend = because engulfing candles are reversal signal, we can activate / desactivate this filtering to display the engulfings only if they appear after e trend of minimum 3 closings in a trend opposite to the engulfing : the 3 closings before a bullish engulfing must be bearish, end vice versa. Checked = Activated / Unchecked = Disactivated,
• VolumeIncreaseFactor = minimum volume increase factor on the engulfing. It’s a filtering to display engulfings only if its volume is at least equal to X times the volume of the previous candle. Where X is the volume increase factor. For example : if you want the engulfing to have at least 1,5 times the volume of the previous candle, just set VolumeIncreaseFactor = 1.5.

• ConfirmationCandle = the indicator will only display the engulfing if it has had a confirmation candle following it. So a candle closing higher than the bullish engulfing close and vice versa. Note that the arrow remains on the engulfing candle, not on the confirmation candle. Checked = Activated / Unchecked = Disactivated.

The values shown above are given as examples and do not constitute an optimal or recommended setting, everyone should find his own settings.

🇫🇷 Englobante / 🇮🇹 Engulfing / 🇩🇪 Verschlingen / 🇪🇸 Envolvente