Engulfing Reversal Market Phase

Stay at the right side of the market.

This indicator detects bullish and bearish phase in the market based on recent reversal.

It is designed to help filter your trades.

Open only long trades if indicator shows green and open only short trades when indicator shows red.

This indicator will detect bullish and bearish engulfing reversal pattern on the chart.

Bullish engulfing occurs when current candle closes below the bars that created the high.

Bearish engulfing occurs when current candle closes below the bars that created the high.

The reversal pattern occurs not only on a trend change, but can be also be present as a trend continuation pattern or a breakout pattern.

The indicator is able to detect 3 candle patterns and multi candle patterns if detects inside bars in the pattern.

릴리즈 노트

오픈 소스 스크립트

In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

For quick access on a chart, add this script to your favorites — learn more here.