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upslidedown

Liquidity Engulfing Candles [upslidedown]

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Candlestick Analysis candlestickpattern candlestickspatterns Engulfing Candle engulfingpattern stophunt stophunting
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candlestick candlestickpattern candlestickspatterns engulfingcandle engulfingpattern stophunt stophunting
Liquidity engulfing candles (LEC) are a variant of a common candlestick pattern: engulfing candles but with a couple extra conditions applied. These conditions expect highs/lows to be taken out in order to show a continuation or reversal signal.

Filter 1: Stop Hunt Wick Filter
This filter requires the candle to wick into the prior candles high or low ( bullish = wick below prior candle lows). This is the stop hunt.

Filter 2: Close Filter
This filter requires the candle to close above or below above the prior candle ( bullish = close above prior candle high). This is the confirmation.

This idea was introduced to me by @attrk632. Thanks, mate!
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