Engulfing Pattern

eng_sig

Function Name: eng_sig

Tags: None

Category: Candlestick

A bullish engulfing pattern occurs when, in a downtrend, you find a solid candle immediately followed by a hollow candle. The body of the hollow candle has to enclose he body of the solid candle, in other words the Open of the hollow candle has to be lower than the Close of the solid candle and the Close of the hollow candle has to be higher than the Open of the solid candle. The Bullish Engulfing study marks a bar if a bullish engulfing pattern occurs. A bearish engulfing pattern occurs when, in an uptrend, you find a hollow candle immediately followed by a solid candle. The body of the solid candle has to enclose the body of the hollow candle, in other words the Close of the solid candle has to be lower than the Open of the hollow candle and the Open of the solid candle has to be higher than the Close of the hollow candle. The Bearish Engulfing study marks a bar if a bearish engulfing pattern occurs.

 

Links:     http://www.investopedia.com/terms/b/bearishengulfingp.asp, http://www.investopedia.com/terms/b/bullishengulfingpattern.asp

 

Parameters

Period

 

Default Value: 5  |  Minimum: 1  |  Maximum: 9999

 

Type: Numeric

NBars

 

Default Value: 1  |  Minimum: 0  |  Maximum: 100

 

Type: Numeric

ShowTraderBar

 

Default Value: -1

 

Type: Boolean

ShowTraderMark

 

Default Value: -1

 

Type: Boolean

UseBullishSignals

 

Default Value: -1

 

Type: Boolean

UseBearishSignals

 

Default Value: -1

 

Type: Boolean