Bullish and Bearish Engulfing
Indicator that changes the bar's color to green if there is a Bullish Engulfing or Red if there a Bearish Engulfing Patterns.
//@version=2
study("Bullish and Bearish Engulfing")
checkingHighsAndLows(position) =>
high >= high[position] and low <= low[position]
isBearishEngulfing(position) =>
checkingHighsAndLows(position) and open >= close[position] and open >= open[position] and close <= open[position] and close <= close[position]
isBullishEngulfing(position) =>
checkingHighsAndLows(position) and open <= close[position] and open <= open[position] and close >= open[position] and close >= close[position]
secLast = 1
barcolor(isBearishEngulfing(secLast)? #F70317: na)
barcolor(isBullishEngulfing(secLast)? #008600: na)