MHIDa Candle-Structure Pullback
Candle-Structure Pullback highlights classic bullish re-entry candles - the bullish engulfing and the hammer - but only when the market is in an underlying uptrend.
WHAT IT DOES
- Detects bullish engulfing candles: the previous bar is red, the current bar is green, and its body engulfs the previous red body (open <= previous close and close >= previous open).
- Detects hammers: a green candle with a small body (default <= 40% of the candle range), a long lower wick (default >= 2 times the body) and a short upper wick (default <= 35% of the range).
- Filters both through a trend gate: a pattern only counts while the close is above a slow EMA (default length 100, the "bull gate").
- Draws the gate EMA, shades the background lightly while price is above it, and marks valid re-entries below the bar (ENG = engulfing, HAM = hammer). Patterns that appear outside the bull are shown as small grey crosses so you can see they were ignored on purpose.
WHY THESE PIECES ARE COMBINED
Candle patterns alone appear everywhere and mean very little. A re-entry candle is only useful as "the dip is exhausting and buyers are responding", and that reading only makes sense inside an underlying uptrend. In a falling market the same candle is far more often a trap. The EMA gate is therefore not an extra: it is what gives the pattern its meaning.
HOW IT IS CALCULATED
All conditions are evaluated on closed bars only. The gate is ta.ema(close, length). Engulfing and hammer are pure comparisons of open, high, low and close of the current and previous bar. Nothing repaints.
HOW TO USE
Add it to a standard candlestick chart. Look at the markers as a prompt to study the pullback: check where price is relative to the gate, how deep the dip was and what the larger structure looks like. Adjust the EMA length and the hammer ratios to the symbol and timeframe you study; the defaults are a starting point, not a tested configuration. An optional alert fires when a valid re-entry appears inside the bull. Markers are drawn only on standard chart types (not Heikin Ashi, Renko, Kagi, Point and Figure or Range).
LIMITS
This is a context tool, not a signal and not financial advice. No trades are simulated and no performance is computed. Candlestick patterns taken blindly are not enough; even with the gate this is an aid to read the chart, and the decision is always yours.
WHAT IT DOES
- Detects bullish engulfing candles: the previous bar is red, the current bar is green, and its body engulfs the previous red body (open <= previous close and close >= previous open).
- Detects hammers: a green candle with a small body (default <= 40% of the candle range), a long lower wick (default >= 2 times the body) and a short upper wick (default <= 35% of the range).
- Filters both through a trend gate: a pattern only counts while the close is above a slow EMA (default length 100, the "bull gate").
- Draws the gate EMA, shades the background lightly while price is above it, and marks valid re-entries below the bar (ENG = engulfing, HAM = hammer). Patterns that appear outside the bull are shown as small grey crosses so you can see they were ignored on purpose.
WHY THESE PIECES ARE COMBINED
Candle patterns alone appear everywhere and mean very little. A re-entry candle is only useful as "the dip is exhausting and buyers are responding", and that reading only makes sense inside an underlying uptrend. In a falling market the same candle is far more often a trap. The EMA gate is therefore not an extra: it is what gives the pattern its meaning.
HOW IT IS CALCULATED
All conditions are evaluated on closed bars only. The gate is ta.ema(close, length). Engulfing and hammer are pure comparisons of open, high, low and close of the current and previous bar. Nothing repaints.
HOW TO USE
Add it to a standard candlestick chart. Look at the markers as a prompt to study the pullback: check where price is relative to the gate, how deep the dip was and what the larger structure looks like. Adjust the EMA length and the hammer ratios to the symbol and timeframe you study; the defaults are a starting point, not a tested configuration. An optional alert fires when a valid re-entry appears inside the bull. Markers are drawn only on standard chart types (not Heikin Ashi, Renko, Kagi, Point and Figure or Range).
LIMITS
This is a context tool, not a signal and not financial advice. No trades are simulated and no performance is computed. Candlestick patterns taken blindly are not enough; even with the gate this is an aid to read the chart, and the decision is always yours.
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน