Engulfing Candles Detector Multi-Timeframe

Key Features
Multi-Timeframe Analysis
Simultaneously monitors engulfing patterns on current and higher timeframes

Helps identify confluence between different timeframes

Higher timeframe signals often carry more significance

No Repainting
Uses lookahead=barmerge.lookahead_on to ensure signals don't change after formation

Only uses completed bar data for pattern detection

User Customization
Adjustable higher timeframe via input settings

Clear visual distinction between current and higher timeframe signals

Comprehensive Display
Multiple visual cues (shapes, colors, table)

Real-time status monitoring

Non-intrusive overlay on price chart

Trading Applications
Bullish Engulfing: Potential buying opportunity or trend reversal signal

Bearish Engulfing: Potential selling opportunity or trend reversal signal

Multi-Timeframe Confirmation: Higher reliability when both timeframes show same pattern

Early Warning: Higher timeframe signals can anticipate moves on lower timeframes

This indicator serves as a comprehensive tool for traders who use engulfing patterns as part of their technical analysis strategy, with the added advantage of multi-timeframe confirmation for increased signal reliability.