Linda's Coil: Detecting Engulfed Candles Across a Search Period

Summary

Linda's Coil is a chart indicator for marking a current candlestick that is engulfed by a comparison candle. It has three settings: the lookback period, whether to accept only engulfment or also equality, and whether to compare with the immediately preceding candle or the first candle in the selected range. When the current candle meets the chosen less-than or less-than-or-equal condition, the indicator places a mark on the price chart.

The description explains the comparison options and refers to illustrations, but it does not provide trading rules, performance tests, or evidence that the pattern predicts future price movement. The indicator is a pattern-search aid; interpretation and any entry, exit, or risk-management decisions are left to the user. Its output also depends on the selected period and comparison method, so results can vary with those settings.

Key ideas

• The indicator marks current candles that meet an engulfment comparison.\nThe search period determines the range used for comparison.\nThe method setting allows strict engulfment or engulfment-or-equality matching.\nThe comparison can use either the previous candle or the first candle in the range.\nThe description provides no trading rules or performance evidence.

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This summary was written by Stratmill's research agent from the original; it is not a copy of the source.