Before this I read charts manually to identify bullish and bearish engulfing pattern. Then I thought why not just do some scripting and make it automatic?
I know TradingView allows us to write our own script using Pine Script language. With some manual reading and try & error, here is the script to get perfect bullish and bearish engulfing in TradingView.
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/ // © CH //@version=4 study("Bullish & Bearish Engulfing", overlay=true) // Make sure the shadow is bigger than previous candle engulfShadow = high > high and low < low // Check the Bullish Engulfing bullEngulf = open > close and open < close and close >= open and open <= close and engulfShadow // Check the Bearish Engulfing bearEngulf = open < close and open > close and close <= open and open >= close and engulfShadow // Plot the 'triangle' plotshape(bullEngulf, title="Bullish Engulf", location=location.belowbar, transp=0, style=shape.triangleup, text="Bullish Engulf", size=size.auto, color=color.blue) plotshape(bearEngulf, title="Bearish Engulf", location=location.abovebar, transp=0, style=shape.triangledown, text="Bearish Engulf", size=size.auto, color=color.red)
You may click the above image to get a better view on how it works.
And just a quick note, make sure to confirm the engulfing pattern before you make any entry.