Candle Pressure & Response (JMA) evaluates price action dynamics by calculating bidirectional candle pressure, upper and lower wick rejection fractions, body efficiency, and range expansion metrics relative to ATR. Each output series is smoothed using a Jurik
Indicator · Pine Script v5 · Own pane
Engulf Indicator
The Engulf Indicator calculates a custom candlestick metric in a separate pane by evaluating the ratio of candle body size to total candle range, comparing it with the previous bar's body size, and normalizing the result with the Average True Range (ATR).
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code20
Settings3inputs
LicenceNone statedfile: MPL-2.0
Last update2 years ago31 Oct 2023
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
20 lines of Pine Script v5 from engulf_indicator.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © theomgdev
//@version=5
indicator("Engulf Indicator")
//atr Length
atrLength = input.int(14, "ATR Length", minval=1)
upperBand = input.int(1, "Upper Band")
lowerBand = input.int(-1, "Lower Band")
atr = ta.atr(atrLength)
getEngulf(atrLen)=>
needleRatio = math.abs(close-open)/math.abs(high-low)
sizeRatio = math.abs(close-open)-math.abs(close[1]-open[1])
atrFiltered = (needleRatio*sizeRatio)/ta.atr(atrLen)
engulf = atrFiltered-atrFiltered[1]
plot(getEngulf(atrLength), "Engulf", color=color.green, linewidth=2, style=plot.style_area, transp=50)
hline(upperBand, "Engulf Upper Band", color=color.blue)
hline(lowerBand, "Engulf Lower Band", color=color.blue)
Overview
Engulf Indicator plots the rate of change of this metric as an area chart along with upper and lower horizontal threshold lines. Crossings above or below these bands indicate potential engulfing price action and potential trend reversals. Users can adjust the ATR length and threshold band levels.
- ATR-normalized engulfing metric calculation
- Custom upper and lower threshold levels
- Area chart visualization in separate pane
Details
Published by
theomgdev on GitHub
Type
Indicator, Pine Script v5
Draws
Separate pane below the chart
Category
Candlestick patterns, Volatility & bands, Oscillators & momentum
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Repository
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| ATR Length | int | 14 | atrLength |
| Upper Band | int | 1 | upperBand |
| Lower Band | int | -1 | lowerBand |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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