PROTECTED SOURCE SCRIPT
Pullback Viewer by emka
Updated
Pullback Viewer is designed to show valid pullback points in a bearish or bullish trend.
What is considered a valid pullback?
A valid pullback needs to have a body close outside the previous candle high (in a bearish trend) or previous candle low (in a bullish trend). If the candle wicks out the previous candle, it's not a valid pullback.
Pullback must liquidate the previous candle with a clean candle body close.
When this indicator is useful?
It's useful to understand and spot potential key levels, where you can expect the reaction of the price.
Examples how you can use valid pullbacks:
This indicator is a valuable guideline to spot the important swing points in trending market.
Timeframes and symbols
Pullback viewer can be used regardless of the timeframe you are using, or symbol that you are trading.
What is considered a valid pullback?
A valid pullback needs to have a body close outside the previous candle high (in a bearish trend) or previous candle low (in a bullish trend). If the candle wicks out the previous candle, it's not a valid pullback.
Pullback must liquidate the previous candle with a clean candle body close.
When this indicator is useful?
It's useful to understand and spot potential key levels, where you can expect the reaction of the price.
Examples how you can use valid pullbacks:
- Identify supply and demand zones
- Spot key levels for support and resistance
- Use as anchor points for trendlines
This indicator is a valuable guideline to spot the important swing points in trending market.
Timeframes and symbols
Pullback viewer can be used regardless of the timeframe you are using, or symbol that you are trading.
Release Notes
Pullback Viewer is designed to show valid pullback points in a bearish or bullish trend .What is considered a valid pullback?
A valid pullback needs to have a body close outside the previous candle high (in a bearish trend ) or previous candle low (in a bullish trend ). If the candle wicks out the previous candle, it's not a valid pullback.
Pullback must liquidate the previous candle with a clean candle body close.
When this indicator is useful?
It's useful to understand and spot potential key levels, where you can expect the reaction of the price.
Examples how you can use valid pullbacks:
- Identify supply and demand zones
- Spot key levels for support and resistance
- Use as anchor points for trendlines
This indicator is a valuable guideline to spot the important swing points in trending market.
Timeframes and symbols
Pullback viewer can be used regardless of the timeframe you are using, or symbol that you are trading.
Release Notes
Added bullish and bearish labels for shapes.Release Notes
Added the ability to create alerts for bullish and bearish pullbacks.Code was provided by Clerith#2216 (Discord) ❤️
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1. Click ALERT at the top of the chart (or right click the chart, and click create alert)
2. Select "Condition" to be "Pullback Viewer"
3. Select whether you want "Bearish Pullback" or "Bullish Pullback"
4. Select how often you want the alert to be shown
5. Enjoy
Release Notes
Updated the code to show the pullbacks when the market creates gaps.Release Notes
Added the ability to select whether you want to display every pullback point, or just the last pullback point of its type in the range.Inside of the settings you can select the type of the pullbacks you want to see.
Every pullback
Structure pullbacks
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Please note - the style of the pullbacks are slightly different. The structural pullbacks are represented as arrows. This is the smallest size they can be displayed in.
Release Notes
- Published a better chart imageProtected script
This script is published closed-source and you may privately use it freely.
Want to use this script on a chart?
Disclaimer
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