Engulfing Line Bear

This formation consists of two candlesticks.

The first candlestick is white the second is black. The second candlestick's open is higher than the first but then closes below the first's open. The real body of the second candlestick engulfs that of the first. This indicates the bulls to force the market higher but failed.

Engulfing Line Bear

Parameters:

BarsBack BarsBack must be greater than MinBars.

The candlestick formation will be scanned this many bars back in the timeframe.

MinBars 1(Fixed)

The value of MinBars will be one less than the number of bars in the candlestick formation.