VWAP + Engulfing Candles

Here’s a clear breakdown of what your merged Pine Script does:

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### 📌 **Indicator Name: VWAP + Engulfing Candles**

* This custom TradingView indicator **plots VWAP (Volume Weighted Average Price)** along with **up to 3 dynamic bands** around it.
* It also **detects Bullish and Bearish Engulfing Candlestick Patterns**, displaying visual markers and triggering alerts.

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## 🔹 **1. VWAP Section**

### ➤ **Main Features:**

* Calculates VWAP anchored to a **customizable time period**:

* Options: Session, Week, Month, Quarter, Year, Decade, Century, Earnings, Dividends, Splits.
* Optional **hiding of VWAP on Daily/Weekly/Monthly charts** to reduce clutter.

### ➤ **Bands Around VWAP:**

* Up to **3 bands** can be plotted above and below the VWAP.
* Bands can be based on either:

* **Standard Deviation** of the price from VWAP (volatility-based), or
* **Percentage** deviation from VWAP (fixed range).
* You can control:

* Whether each band is shown
* Band width via multiplier (e.g., 1x, 2x, 3x)

### ➤ **Plot Colors:**

* VWAP: Blue
* Bands: Green (1x), Olive (2x), Teal (3x)
* Band fill areas are semi-transparent.

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## 🔹 **2. Engulfing Candlestick Pattern Detector**

### ➤ **Bullish Engulfing Criteria:**

* Current candle opens **below** or **equal to** the close of the previous candle.
* Current candle opens **below** the previous candle's open.
* Current candle closes **above** the previous candle’s open.

### ➤ **Bearish Engulfing Criteria:**

* Current candle opens **above** or **equal to** the close of the previous candle.
* Current candle opens **above** the previous candle’s open.
* Current candle closes **below** the previous candle’s open.

### ➤ **Visual Signals:**

* 🔼 Green triangle **below bar** for **Bullish Engulfing**
* 🔽 Red triangle **above bar** for **Bearish Engulfing**

### ➤ **Alerts:**

* The script includes two alert conditions:

* One for Bullish Engulfing
* One for Bearish Engulfing

These alerts can be used to automate notifications for potential reversal points.

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## 🛠️ **Use Cases**

* **Trend following or reversal spotting**: VWAP helps identify the average trading price; engulfing patterns often signal reversals.
* **Intraday and swing trading**: Works best on timeframes like 5m, 15m, 1h for intraday, or 4h, 1D for swing.
* **Mean reversion strategies**: Bands help spot overbought/oversold areas relative to VWAP.