NakInvest - Bullish Candles

bullish-candles.pine

//@version=5
indicator("NakInvest - Bullish Candlestick Patterns", overlay=true)

// Function to identify a Hammer pattern
isHammer() =>
    lowerShadow = low < close - (high - low) * 0.5
    upperShadow = high - close < (high - low) * 0.1
    bodySize = math.abs(close - open)
    bodySize < (high - low) * 0.3 and lowerShadow and upperShadow

// Function to identify a Bullish Engulfing pattern
// Function to identify a Bullish Engulfing pattern considering wicks
isBullishEngulfing() =>
    prevOpen = open[1]
    prevClose = close[1]
    prevHigh = high[1]
    prevLow = low[1]
    currOpen = open
    currClose = close
    currHigh = high
    currLow = low
    // Previous candle is bearish
    prevBearish = prevClose < prevOpen
    // Current candle is bullish
    currBullish = currClose > currOpen
    // Current candle engulfs previous candle's range including wicks
    engulfsWicks = currHigh >= prevHigh and currLow <= prevLow
    prevBearish and currBullish and engulfsWicks


// Function to identify a Bullish Abandoned Baby pattern
isBullishAbandonedBaby() =>
    prevGap = low > high[1]
    nextGap = low[1] > high[2]
    doji = math.abs(open[1] - close[1]) <= (high[1] - low[1]) * 0.1
    prevGap and nextGap and doji

// Identify patterns
hammer = isHammer()
bullishEngulfing = isBullishEngulfing()
bullishAbandonedBaby = isBullishAbandonedBaby()

// Plot signals
plotshape(hammer, title="Hammer", location=location.belowbar, color=color.green, style=shape.labelup, text="Hammer")
plotshape(bullishAbandonedBaby, title="Bullish Abandoned Baby", location=location.belowbar, color=color.purple, style=shape.labelup, text="Abandoned Baby")
plotshape(bullishEngulfing, title="Bullish Engulfing", location=location.belowbar, color=color.yellow, style=shape.labelup, text="Engulfing")