Swing Engulfing – Bearish Pattern

Developed by Definedge.

A bearish engulfing candle is one where the current price completely engulfs the body of the previous bearish candle. With Renko charts, we plot a series of bricks which show price swings. When a swing move completely retraces the previous move, which was a swing breakout, then it is known as a Swing Engulfing.

Bearish swing engulfing:

Prashant Shah introduced this pattern in his book on Renko Charts.

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This pattern can be plotted on the chart by adding it from the Add study menu in TradePoint & Patterns in RZone. The pattern is also available in the System Builder section. By combining this pattern with other patterns and indicators, you can create your own trading strategies. For any group of stocks and market segments, you can scan and backtest stocks based on those strategies.

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