Bullish Engulfing [UE]

Descripton

Rules:
1. The first candlestick is a short red candlestick.
2. The second candlestick is a green candlestick which opens below the body range of the first candlestick and closes above the body range of the first candlestick.

Pattern Type:
Bullish Reversal.

Variables

Type	Identifier	Description
Integer	_symbolIndex	Use for the underlying symbol index on which to calculate the Bullish Engulfing.
Number	_minCandleSize	Use for the minimum percentage change (open to close) that a candlestick must change in order to be considered a long candlestick. [Default 2]
Number	_maxShortCandleSize	Use for the maximum percentage change (open to close) that a candlestick can change in order to be considered a short candlestick.

OnInitialize

Function Parameters
Type	Identifier	Description
Symbol	symbolIndex	Use for the underlying symbol index on which to calculate the Bullish Engulfing.
Number	minCandleSize	Use for the minimum percentage change (open to close) that a candlestick must change in order to be considered a long candlestick. [Default 1]
Number	maxShortCandleSize	Use for the maximum percentage change (open to close) that a candlestick can change in order to be considered a short candlestick. [Default 1]
Implementation
' Assign the parameters to script variables. _symbolIndex = symbolIndex _minCandleSize = minCandleSize _maxShortCandleSize = maxShortCandleSize

OnPattern

Function Parameters
Type	Identifier	Description
Integer	barIndex
Implementation
' Get the opening prices of the symbol, indexed by bar index. Define open() As Number = BarOpen(_symbolIndex, barIndex, 2) ' Get the closing prices of the symbol, indexed by bar index. Define close() As Number = BarClose(_symbolIndex, barIndex, 2) ' Check whether the first candlestick matches. If (open(1) > close(1) And _ -100 * (close(1) - open(1)) / open(1) < _maxShortCandleSize) Then ' Check whether the second candlestick matches. If (open(0) < close(0) And _ open(0) < close(1) And _ close(0) > open(1) And _ 100 * (close(0) - open(0)) / open(0) > _minCandleSize) Then Return 2 End If End If Return 0