Pine Script [OUTDATED V4] Tutorial | Lesson 6 | Detecting Engulfing Candles

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Want to learn how to code in Pine Script but unsure of where to even start? Fear not! I have you covered.

In this video lesson series I'm going to teach you how to create your own scripts in TradingView's Pine Script programming language.

Today's lesson covers how to detect engulfing candles in Pine Script. By building on past lessons and including the RSI indicator as a filter, we create the beginnings of a strategy script or setup detection tool that you can customize for your own trading process.

Get ready to take your trading to the next level. I'm excited to share my knowledge with the trading community to help you guys enhance your edge and become the best traders you can possibly be!

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Disclaimer:
The content covered in this video is NOT investment advice and I am not a financial advisor. The material covered and the resources offered are for educational purposes only. Always do your own research and only execute trades based on your own personal judgment.

#PineScript #TradingView #Indicator

[avesmomin]

Well explained and to the point. No clutter. Gets the job done. And personally this video series is much more useful than the pinescript documentation tutorials.

[Pedrosantos-fsof]

Very, very helpful, it's difficult to find programming tutorial for pine script. here in Brazil for example there is nobody doing it, so anyone who wants to learn needs to speak english. And your method is step by step, any person who have a minimal programming experience can learn : - )

[khumofx]

Man oooh Man you just helped me break through one of my biggest challenges to filter my script. thank you thank you man. Big up.

[ocetir]

Thank you for the very clear and helpful instructions Matthew. My programming knowledge is very minimal and dated. Nevertheless your videos are easy to follow. I am inspired to take this a bit further. Cheers

[JungleRabbit]

Top marks mate for your work. I have just got into all of this and have been working on something similar to this and this has given me some amazing guidance. Please continue to make these fantastic videos.

[devdepijama]

Hi.. congratulations for this series of videos.. they have been much helpful for me and I'm pretty sure that for many other people as well...

I got a newbie question.. in order to detect the engulfing candle pattern you're using the close value of the next candle, right? If that's the case than shouldn't you place the BUY/SELL signal on the close of the candle you used to assert it was indeed a reverse of tendency? Otherwise it will give the impression that you entered earlier, when in reality you would have waited to the end of the next candle.

[jleoarsenault]

Great video. Have you coded TTM-LRC and the RSI into a strategy ??

[kianow]

Very good tutorial, you have a gift man. Subscribed

Have a quick question though, how about using a slower timeframe rsi with the candle patterns. You mentioned that multiple sources are possible in an early video. Thanks

[Sachin]

Very Good videos by you, Really Thanks for your valuable efforts...
I need ur help in how to put input as calander & time in pine script to retrieve data as an high & low of previous month or day at specific timeframe range...?
Plz reply
For example - need High & Low of any particular day from previous month or high & low from privious days any specific time period high & low ....
How to get that plz help

[AhmedVlogs]

Thank you very much ....your method of teaching is awesome... I want to develop Plotting of Demand and supply on chart through coding.... Have you already made a video on that?

[jakemckinnon]

youre a legend mate, thank you for these videos they are cracking!

[JimmyYaeger]

First of all...thanks for your tutorials series...its been really helpfull for creating own strategies...Is there a way to recode the tradesignal so that if it would be true, when the bullish or bearish EC occur either x bars before or after the overbought or oversold level is being reached? hope the question is somewhat understandable

[squidlings]

YES! You opened new corridors in my mind!

[Ginuwinz]

Just WOW! What a very interesting video. I really appreciate this. I have a question for you as well: Is it possible to make a specific candle indicator (for example: hammer) to only get labeled when it touched a self put in horizontal ray/line? I always search for support and resistance and place these with horizontal lines/rays. But i want to make a script where whenever a (in this case) hammer forms from that zone it will get a label. Is that possible sir?

[rolandoabraham]

Hey! MUCH THANKS! Really appreciate your videos! Is there a way to remove a bullish engulfing signal after a new low was made regardless of how long ago it was?

[buddhatheozorba]

Thats one quality tutorial right there mate...

[milonashisdas]

Hi Matthew, it's really helpful. Can you please write a code to detect a DOUBLE TOP AND DOUBLE BOTTOM instead of just engulfing candle ON THIS? Please..

[gapsickkim]

great vid, really helpful and high quality.

[nicolasrodrigo]

Aren't bullishEC and bearishEC already included in tradeSignal on lines 24 and 25? Thank you so much for this tutorial!

[russgo]

Thx for this awesome tutorials man. :)
Could you please do a video or explain, how i can describe a pinbar in pine script?
I really just need to detect pinbars for alert and backtesting my strategy but dont know how, because pinbars can have various forms.
Big or small Body, long or short tail.