HP Engulfing Pattern Indicator
This is a very simple indicator that recognizes and displays a pattern “Uptake” on the chart by using the arrows.
Principle of operation:
- Indicator scans all the bars / candles on the chart. As soon as he finds a pattern of “absorption”, it displays it on a graph using the arrow keys.
- It works on all instruments.
- It works on all timeframes.
- Displays the arrows on the chart.
- The color and size of the arrows can be configured in the “Colors” in the input parameters of the indicator.
- The default setting is red and blue.
- The arrows also show bullish and bearish bars / candles.
- Red arrows show up bear bars.
- The blue arrows show down bull bars.
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