The bullish Engulfing is a pattern of two candlesticks. The first is a red bearish candlestick which is followed by a long green bullish candlestick. This one must have a body that encloses the previous one. When the bullish Engulfing forms in a bearish trend it indicates a change in market psychology and thus marks a probability of a bullish reversal. A rise in volumes on the second candlestick will give more strength to the signal, as will a second candlestick that encloses the first candle wicks inclusive.
On the opposite, the bearish Engulfing is a pattern of two candlesticks. The first is a green bullish candlestick which is followed by a long red bearish candlestick. This one must have a body that encloses the previous one. When the bearish Engulfing forms in an bullish trend it indicates a change in market psychology and thus marks a probability of a bearish reversal. A rise in volumes on the second candlestick will give more strength to the signal, as will a second candle that encloses the first candle wicks inclusive.
The Engulfing screener scans the market to find Engulfings. Our Engulfing Indicator is provided with the screener to view spotted figure directly on chart.
Results are sorted according to whether the Engulfing found is bullish or bearish.
A general filtering, in daily timeframe, based on the stock price, as well as on the volume of exchanges, makes it possible to choose the desired level of liquidity.
Many parameters are adjustables so you find only the Engulfings that meet your own criteria. Settings are made without modifying any word of the code, in a very simple way in the screener's "variables" menu :
Adjustable validation criteria :
Available filters :
General filter :
Video user guide (english subtitles available) :
Details of available settings :
Disclaimer
Our proposed tools (indicators and screeners) are not investment advices but tools allowing everyone to find specific graphic configurations.
Investing in the financial markets involves risks up to and including the total loss of capital.
The user of the proposed tools understands and accepts that the use of these tools is under his sole and entire responsibility. P2C Trading declines all responsibility in the use of the tools and the consequences that would result.
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