by 
This indicator overlays up to five higher-timeframe candlestick groups on the price chart. For each enabled timeframe it requests open, high, low, and close and can show up to five candles, offset by a spacing setting. The main inputs set the candle count, the
Indicator · Pine Script v5 · On the chart
Engulfing Candle Micro-Gaps
The Engulfing Candle Micro-Gaps indicator identifies bullish and bearish engulfing candlestick patterns filtered by recent swing highs and swing lows.
GitHub stars2on the repository
Pine versionv5runs as is
Lines of code37
Settings3inputs
LicenceNone stated
Last update2 years ago13 Sep 2024
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 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
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Engulfing Candle Micro-Gaps introduces a configurable point allowance setting that accommodates minor price gaps between adjacent bars, ensuring engulfing setups are recognized even with slight discrepancies. When a bullish engulfing pattern occurs at a swing low or a bearish engulfing pattern occurs at a swing high, the script highlights the signal directly on the main price chart using color-coded shapes and background overlays.
- Micro-gap allowance for engulfing pattern detection
- Swing high and swing low context filters
- Color-coded plot shapes and chart background overlays
- Adjustable lookback and point tolerance settings
Details
Published by
Web3Degenerate on GitHub
Type
Indicator, Pine Script v5
Draws
On the price chart
Category
Candlestick patterns, Support & resistance
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.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Swing High Lookback | int | 10 | swingHighBarsBack |
| Swing Low Lookback | int | 10 | swingLowBarsBack |
| Point Allowance | int | 0 | pointAllowance |
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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