TC2000 Bullish Engulfing Candlestick Scan

Description

The TC2000 bullish engulfing scan will return to you stocks that fit the essence of this classic candlestick reversal pattern definition.

How does it work

There are lots of variations and interpretations of what makes up a bullish engulfing pattern, so let’s be clear about what The Trade Risk’s looks for:

• 2-bar bullish reversal pattern.
• The second candle completely engulfs the real body of the first.
• Occurs only after experiencing a short-term pullback.
• The first candle is a small red body followed by a second large range green candle.
• The second candle has small wick relative to the body and its range is greater than average.

Features

• Purchase includes exact PCF code and setup instructions.
• Purchase includes additional recommended scan criteria:
  • Average daily volume filter.
  • Complimentary trend filter.
• Can be used on all versions of TC2000.
• Can be used on any time-frame.
• Can be combined with other criteria to improve accuracy.
• Stack the odds in your favor by using this scan against our weekly curated TR150 watchlist.

BUNDLE OFFER

Get a discount when you purchase this Bullish Engulfing Candlestick Pattern Scan and its bearish version equivalent in the Engulfing Candlestick Scans Bundle package.

Any questions? Contact us.