Bullish and Bearish Engulfing Strategy
I've been trying to put a stop loss in the High or Low of the last second bar after I open a position but in this example the only way to close it, is with the opposite action. Does anyone know how to put a stop loss and order with just stop loss and close when there is a bullish or bearish engulfing bar?
//@version=2
strategy("Super Envolvente", overlay=true)
secLast = 1
checkingHighsAndLows(position) =>
high >= high[position] and low <= low[position]
isBearishEngulfing(position) =>
checkingHighsAndLows(position) and open >= close[position] and open >= open[position] and close <= open[position] and close <= close[position]
isBullishEngulfing(position) =>
checkingHighsAndLows(position) and open <= close[position] and open <= open[position] and close >= open[position] and close >= close[position]
longCondition = isBullishEngulfing(1)
if (longCondition)
strategy.entry("Long Entry", strategy.long)
shortCondition = isBearishEngulfing(1)
if (shortCondition)
strategy.entry("Short Entry", strategy.short)