OPEN-SOURCE SCRIPT
3 EMA & Engulfing Candles Detector – Pawan Saini Strategy
Indicator Description
This indicator combines trend analysis using exponential moving averages (EMA) with the detection of Engulfing candlestick patterns, providing a complete tool for traders.
Key Features:
Exponential Moving Averages (EMAs):
EMA 10: Ideal for identifying short-term price movements.
EMA 50: Helps confirm intermediate trends.
EMA 200: Represents long-term trends and acts as a key support/resistance level.
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Engulfing Pattern Detection:
Bullish Engulfing: Detects bullish reversals, highlighted with green triangles or blue bars.
Bearish Engulfing: Identifies bearish reversals, marked with red triangles or purple bars.
Integrated Alerts: Receive real-time notifications when bullish or bearish engulfing patterns are detected.
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How to Use This Indicator?
EMAs: Evaluate overall trends and use them as dynamic support/resistance levels.
Engulfing Patterns: Spot key reversal points to confirm trade entries or exits.
Alerts: Configure notifications to avoid missing opportunities in volatile markets.
This indicator works with any asset and time frame, making it an essential tool for technical traders.
--------------------------------------------
Credits to the Creators
This indicator is the result of collaborative efforts from several members of the TradingView community:
hunganhnnguyen1193: Creator of the original 3 EMA indicator, a key component for trend analysis.
FinzenTrader: Adapted the script to Pine Script v6 and integrated it into a more advanced strategy.
Pawan Saini: Enhanced the strategy by combining EMAs with Engulfing pattern detection, optimizing the indicator for a comprehensive trading experience.
Daveatt: Provided inspiration for the engulfing candle detection logic through their work on the "Engulfing Candles Detector."
Seriffin: Contributed a structured base with their work on "Dante Bullish/Bearish Engulfing."
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Important Notes
The description and indicator have been crafted to comply with TradingView's Script Publishing Rules:
Originality: Combines established tools with unique detection logic and strategy integration.
Description: Fully detailed and explains both the functionality and usage of the script.
Language: Written entirely in English for global accessibility.
Feel free to provide feedback or ask for adjustments if necessary! 😊
This indicator combines trend analysis using exponential moving averages (EMA) with the detection of Engulfing candlestick patterns, providing a complete tool for traders.
Key Features:
Exponential Moving Averages (EMAs):
EMA 10: Ideal for identifying short-term price movements.
EMA 50: Helps confirm intermediate trends.
EMA 200: Represents long-term trends and acts as a key support/resistance level.
----------------------------------------
Engulfing Pattern Detection:
Bullish Engulfing: Detects bullish reversals, highlighted with green triangles or blue bars.
Bearish Engulfing: Identifies bearish reversals, marked with red triangles or purple bars.
Integrated Alerts: Receive real-time notifications when bullish or bearish engulfing patterns are detected.
-------------------------------------
How to Use This Indicator?
EMAs: Evaluate overall trends and use them as dynamic support/resistance levels.
Engulfing Patterns: Spot key reversal points to confirm trade entries or exits.
Alerts: Configure notifications to avoid missing opportunities in volatile markets.
This indicator works with any asset and time frame, making it an essential tool for technical traders.
--------------------------------------------
Credits to the Creators
This indicator is the result of collaborative efforts from several members of the TradingView community:
hunganhnnguyen1193: Creator of the original 3 EMA indicator, a key component for trend analysis.
FinzenTrader: Adapted the script to Pine Script v6 and integrated it into a more advanced strategy.
Pawan Saini: Enhanced the strategy by combining EMAs with Engulfing pattern detection, optimizing the indicator for a comprehensive trading experience.
Daveatt: Provided inspiration for the engulfing candle detection logic through their work on the "Engulfing Candles Detector."
Seriffin: Contributed a structured base with their work on "Dante Bullish/Bearish Engulfing."
----------------------------------
Important Notes
The description and indicator have been crafted to comply with TradingView's Script Publishing Rules:
Originality: Combines established tools with unique detection logic and strategy integration.
Description: Fully detailed and explains both the functionality and usage of the script.
Language: Written entirely in English for global accessibility.
Feel free to provide feedback or ask for adjustments if necessary! 😊
Skrypt open-source
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