Allows to specify the high and low look-back period for both Bullish and Bearish engulfing candles. In essence, it is an extension of the classical engulf pattern. By default lookback period is set to 3. Can be used on any time-frame and any instrument. Previous candle is irrelevent.
An engulfing candle is defined as follows: Bullish: Must trade BELOW prior candle LOW and close ABOVE prior candle HIGH Bullish: Must trade ABOVE prior candle HIGH and close BELOW prior candle LOW