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
Fractal Engulfing Candles
The Fractal Engulfing Candles indicator identifies bullish and bearish engulfing candlestick patterns occurring near 10-period swing highs or swing lows.
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code17
Settings1inputs
LicenceNone statedfile: MPL-2.0
Last update2 years ago3 Oct 2024
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
17 lines of Pine Script v5 from 05. Candlestick Patterns/04. Engulfing Candle Micro-Gaps.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
// This Pine Script™ code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © cmoutafidis
//@version=5
indicator(title="Fractal enculfing Caldles", overlay = true)
pointAllowance = input.int(defval = 0)
swingHigh = high == ta.highest(high, 10) or high[1] == ta.highest(high, 10)
swingLow = low == ta.lowest(low, 10) or low[1] == ta.lowest(low, 10)
// previus bar is bearish, the current bar opened lower than prev close, current bar closed higher than prev open, and swing low/high
var allowance = syminfo.mintick * pointAllowance
bullEc = close[1] < open[1] and open <= (close[1] + pointAllowance) and close >= open[1] and swingLow
bearEc = close[1] > open[1] and open >= (close[1] - pointAllowance) and close <= open[1] and swingHigh
plotshape(bullEc, style = shape.triangleup, location = location.belowbar, color = color.green, size = size.small)
plotshape(bearEc, style = shape.triangledown, location = location.abovebar, color = color.red, size = size.small)
Overview
Fractal Engulfing Candles plots green upward triangles below bullish engulfing bars at swing lows and red downward triangles above bearish engulfing bars at swing highs directly on the price chart. Users can adjust a point allowance setting to account for price gaps or micro-gaps between the previous bar's close and the current bar's open when detecting engulfing conditions.
- Detects bullish and bearish engulfing patterns
- Filters patterns using 10-bar swing highs and lows
- Configurable point allowance for micro-gaps
- On-chart shape plots for trade signals
Details
Published by
fiji-solutions on GitHub
Code credit
cmoutafidis, as written in the script's header
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 |
|---|---|---|---|
| pointAllowance | 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.
Similar Pine Scripts
This indicator plots optional candlestick pattern signals on the price chart. It detects engulfing bars, inside bars, HOLP and LOHP, kicker patterns, body-mass extremes, higher highs and lower lows, ATR warnings, and four-bar fractals. Optional pivot marks use
The Strat Assistant indicator identifies candlestick patterns from the STRAT methodology on the price chart. It detects inside bars, 2-candle directional bars, 3-candle outside bars, and sequences like 212 and 222 for continuations and reversals. Shapes such a
This overlay indicator highlights candles with a body smaller than 50% of their total range by coloring them white on the price chart. Simultaneously, it calculates and plots horizontal lines for open prices across multiple higher timeframes, such as daily, we
This Pine Script indicator identifies liquidity sweeps and confirms signals using a close-back candle pattern directly on the price chart. It tracks recent swing highs and lows over a customizable lookback period. A bullish signal forms when a prior bar sweeps
This overlay indicator draws 80/20 price levels and optional 40-point zone bands on the price chart. It marks repairs, cross sections, and forks with optional letter labels, and can highlight confluence when those marks sit near a level. Separate options shade
Trade Your Charts With a Regulated Broker
Compare brokers that connect to TradingView, with spreads, minimum deposits and leverage side by side.
Compare brokers