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Bearish Engulfing

FREE

Published: 11 March 2022

Current version: 1.0

Bearish Engulfing

Name: Bearish Engulfing
Author: Zaky Hamdoun

Indicators
Zaky Hamdoun
Version: 1.0

Introduction and Description

The indicator displays an arrow whenever a "Bearish Engulfing" is detected. The latter usually indicates the beginning of a downward trend. A bearish engulfing pattern is a technical chart pattern that signals lower prices to come. The pattern consists of an up candlestick followed by a large down candlestick that eclipses or "engulfs" the smaller up candle. The pattern can be important because it shows sellers have overtaken the buyers and are pushing the price more aggressively down (down candle) than the buyers were able to push it up (up candle). The indicator does not take into consideration the current trend, and is only based on the candlesticks pattern.

The color, size and type of the arrow can be selected in the inputs.

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Reply from developer Zaky Hamdoun 2022.03.24 16:24 #

Hi! It will be added very soon! Most probably by today or tomorrow.
I'm creating an individual indicator for each famous candlestick pattern.
The engulfings are going to be merged together in another indicator with both.
All of the indicators are going to be free, except for the big version with ALL indicators merged together and many customization possible! Thanks for the review!