Reverse Engulfing Indicator

[Dap]

Hi All,

I have searched the community for examples to draw upon, but have come up empty. I'm hoping that someone can help me out.

I am looking for an indicator that will draw a horizontal line at the high of each engulfing candle found in the given timeframe. I would like to find the engulfing candles starting from the most recent candle and working backwards (to the left). It would be great if the indicator supported an input for the minimum candles engulfed. It would also be ideal if the indicator erased previous horizontal lines that no longer qualify due to more recent price action.

Thank you.

 

[autolox]

I can start you with an easy identifier for engulfing candles/bars.

I'm sure there are more elegant ways to set up the price coloring but I did include price shading for inside bars as well because there are times that inside and engulfing bars run together. I set the last two lines of the code intentionally so that you can "choose" your price color choice by simply moving the "#" to one line or the other depending on your wish at any given time.

input timeframe = aggregationperiod.day;

def h = high(period=aggregationperiod.day);
def l = low(period=aggregationperiod.day);

def engulf = (h > h[1]) and (l < l[1]);
def inside = (h < h[1]) and (l > l[1]);

## COLORING OF ENGULFING BARS ONLY ##

AssignPriceColor(if engulf then color.magenta else color.gray);

## COLORING OF ENGULFING AND INSIDE BARS ONLY ##

#AssignPriceColor(if engulf then color.magenta else if inside color.yellow else color.gray);

 

[Cwparker23]

Try this

https://usethinkscript.com/threads/...ith-various-quantities-of-smaller-bars.15055/

 

[halcyonguy]

Hi All,

I have searched the community for examples to draw upon, but have come up empty. I'm hoping that someone can help me out.

I am looking for an indicator that will draw a horizontal line at the high of each engulfing candle found in the given timeframe. I would like to find the engulfing candles starting from the most recent candle and working backwards (to the left). It would be great if the indicator supported an input for the minimum candles engulfed. It would also be ideal if the indicator erased previous horizontal lines that no longer qualify due to more recent price action.

Thank you.

i modified my engulfing to,
..choose to show all engulfing or just the last one
..show high/low lines extending from the last engulf
see it here:
https://usethinkscript.com/threads/...ith-various-quantities-of-smaller-bars.15055/

thanks @Cwparker23 for the link. i don't always remember what i did in the past.

 

[Dap]

Thank you all for your help. I unfortunately misused the word "engulfing" in my description of the indicator. I apologize.

What I meant to say is that I am looking for an indicator that will draw a horizontal line at the high of a candle if that high takes out (is greater than) one or more candle highs that precedes it in a given timeframe. I would like to begin the process starting from the last candle printed and work backwards (to the left). It would be great if the indicator also supported an input for the minimum candles taken out. It would also be ideal if the indicator erased previous horizontal lines that no longer qualify due to more recent price action.

I hope this is clear. I have included a screenshot to show what I mean. The lines are numbered in the order that they were found when reading price action from the last candle printed working backwards.

Thank you for any help that you can provide.

 

[halcyonguy]

Thank you all for your help. I unfortunately misused the word "engulfing" in my description of the indicator. I apologize.

What I meant to say is that I am looking for an indicator that will draw a horizontal line at the high of a candle if that high takes out (is greater than) one or more candle highs that precedes it in a given timeframe. I would like to begin the process starting from the last candle printed and work backwards (to the left). It would be great if the indicator also supported an input for the minimum candles taken out. It would also be ideal if the indicator erased previous horizontal lines that no longer qualify due to more recent price action.

I hope this is clear. I have included a screenshot to show what I mean. The lines are numbered in the order that they were found when reading price action from the last candle printed working backwards.

Thank you for any help that you can provide.

@Dap ,

'taken out' is too vague. write out what actually has to happen for a line to appear, using candle terms, high, low, close, open, > , < , ....

what does 'in a given timeframe' mean?
what does 'no longer qualify due to more recent price action' mean? price action means nothing. think about what has to happen.

posting a picture with no explanation, doesn't help
i marked it up. why aren't there lines where i added yellow lines?

if you can clearly define what has to happen, me or someone might be able to make it.