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Name: Bullish engulfing pattern
The Bullish Engulfing Pattern is a reversal pattern during the transition from a bearish move to a bullish one. The Bullish Engulfing Pattern must meet the following three criteria: 1. The market must be patently bearish (even if the tendency is short-term). 2. The Bullish Engulfing Pattern is formed by two candlesticks. The second body must consume the first one (the shadows may remain intact). 3. The second body must be in color contrast with the first one. Therefore, if after an extended bearish move the small black body is consumed by the very big white body, this may signal a reversal at the bottom.

Syntax: o\1\>=c\1\ and o\1\o and o\1\<o\2\ and c\1\<c\2\ and c\2\<c\3\ and c<c\-1\

Download to import into Tradecision.

How to use this custom study in Tradecision:
  1. Click Download.
  2. Save this study in a safe location on your hard drive.
  3. Open Tradecision and in the Tools menu click the Study Builder.
  4. In the Study Builder dialog, click Import, locate the saved file and then click OK. Now you can insert the study directly into a price chart or modify it like any other study.
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