OPEN-SOURCE SCRIPT
Liquidity Sweep Weak/Strong Engulfing
The Liquidity Sweep Weak/Strong Engulfing Indicator identifies liquidity grabs followed by engulfing patterns in the market.
First, a candle sweeps the previous candle’s high/low (liquidity hunt)
Then, based on the closing position, it classifies the signal:
🔹 Strong Engulfing
Close is above/below the entire previous candle (high/low)
Indicates strong momentum and a high-probability reversal
🔹 Weak Engulfing
Close is outside the previous candle’s body, but not a full breakout
Indicates moderate strength, needs confirmation
First, a candle sweeps the previous candle’s high/low (liquidity hunt)
Then, based on the closing position, it classifies the signal:
🔹 Strong Engulfing
Close is above/below the entire previous candle (high/low)
Indicates strong momentum and a high-probability reversal
🔹 Weak Engulfing
Close is outside the previous candle’s body, but not a full breakout
Indicates moderate strength, needs confirmation
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.