Analysis Techniques & Strategies

$image\insert_showme.gif$ C_BullEng_BearEng (ShowMe)


Bullish Engulfing	Bearish Engulfing

C_BullEng_BearEng displays a ShowMe for two Japanese candlestick patterns; Bullish Engulfing and Bearish Engulfing.

Bullish Engulfing is defined as:

The body of a green candle is larger and engulfs both the open and close of a red candle on the previous bar
The price trend is declining
The body of the green candle is greater than the average body

Bearish Engulfing is defined as:

The body of a red candle is larger and engulfs both the open and close of a green candle on the previous bar
The price trend is advancing
The body of the red candle is greater than the average body

Input Information

Name	Default	Description
Length	14	Length used to calculate the average body

Bullish Engulfing may be considered a bullish reversal pattern, and the Low may be used as support level.

Bearish Engulfing may be considered a bearish reversal pattern, and the High may be used as a resistance level.

Bullish Engulfing plots on the High when true for the current bar.

Bearish Engulfing plots on the Low when true for the current bar.