C_BullEng_BearEng (Function)

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The C_BullEng_BearEng function identifies occurrences of 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

Syntax

C_BullEng_BearEng(Length, oBullishEngulfing, oBearishEngulfing)

Returns (Integer)

Each pattern is represented by an output parameter (oBullishEngulfing or oBearishEngulfing) that returns a positive one (1) when the matching candlestick pattern is found on the current bar or returns a zero (0) if the pattern is not found.  The C_BullEng_BearEng function itself returns a value of 1.   

Parameters

Name Type Description
Length Numeric Length used to calculate the average body.
oBullishEngulfing Numeric Output variable returns a 1 if the Bullish Engulfing candlestick pattern exists on the current bar, or 0 if the pattern does not exist.
oBearishEngulfing Numeric Output variable returns a 1 if the Bearish Engulfing candlestick pattern exists on the current bar, or 0 if the pattern does not exist.

Example

Plots a ShowMe on the Low of the current bar when a Bearish Engulfing candlestick pattern is found on the current bar based on a Length of 14:

Value1 = C_BullEng_BearEng(14, oBullishEngulfing, oBearishEngulfing)

if oBearishEngulfing = 1 then

 Plot1(Low, "BearishEngulfing");