Ultimate Pullback Strategy

4 Okt 2019

What is the Ultimate Pullback Strategy?

This strategy script is based on my Ultimate Pullback Indicator which detects pullback trading opportunities by analyzing price action in a very specific manner.

By combining simple trend filters with various advanced candlestick patterns it detects high-probability trend-continuation setups (and optional exits).

If you use this script to set alerts then you will never miss a pullback trading opportunity ever again!

I personally use this indicator to profitably trade pullback signals in the forex markets on multiple timeframes, from the 15-Minute chart to the 4-Hour and Daily chart.

Note: This strategy companion script is only available for subscribers of The Ultimate Pullback Indicator.

4 Okt 2019

Nota Keluaran

Fixed ATR multiplier not working.

2 Mei 2020

Nota Keluaran

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- Updated strategy script to match latest indicator script

11 Ogo 2020

Nota Keluaran

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- Fixed max rejection wick size setting bug
- Added option to ignore long or short setups

11 Ogo 2020

Nota Keluaran

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- Added option to change Moving Average types

12 Ogo 2020

Nota Keluaran

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- Fixed "Exit Reasons + Target" Bug
- Added "DEMA" Option
- Added Fixed Pip SL Option

I've also added a new setting - R:R To Trigger Exit.

Basically it works like this (for example) - if you set your regular R:R Target to 2:1, you set your Break-Even target to 1.5:1, and you set your R:R To Trigger Exit to 1:1, the script will perform like this:

- If price hits your stop loss it will be stopped out as per usual
- If price hits 1:1 it will begin searching for your selected exit reason(s)
- If price hits 1.5:1 it will move the theoretical stop loss to break-even
- If price hits 2:1 it will exit your trade for a profit regardless of the exit reason(s)

If you set R:R To Exit Trade to 0 it will disable that setting (it's disabled by default), and the script will only begin searching for an exit reason when your standard R:R under the Stops & Targets section is hit.

20 Ogo 2020

Nota Keluaran

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- A few bug fixes and minor improvements
- Added a whole bunch of alert customization for 3rd party APIs

2 Sep 2020

Nota Keluaran

- Added MA slope filter (won't take trades if MA has flattened)
- Added time-based filter (won't take trades during given time of day)

25 Nov 2020

Nota Keluaran

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- Improved hammers & shooting stars detection
- Added start date filter
- Separated all the various alert conditions

6 Apr 2021

Nota Keluaran

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- Better organized settings menu using latest Pine features
- Added trailing stop source option (high/low, close, open)
- Doji's are now detected based on % of bar size, not pips
- Removed slope filter as it wasn't working as intended
- Removed Stats Label as it has a display bug on the strategy version of this script for some reason
- Removed individual alert options from settings menu (they're now all listed under alert dialog)
- Added complete in-built AutoView automation functionality

To use AutoView alerts, make sure to set up the appropriate settings and then create an alert using "Any alert() function call". The script will then automate trade management based on however you've set up the script to behave.

For help with this, search "The Art Of Trading AutoView Guide" on YouTube. Enjoy :)

9 Jun 2021

Nota Keluaran

UPS Update:
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- Many minor fixes:
- Removed deprecated transp parameters
- Fixed "1234567" on time function (to include weekends in time filter)
- Fixed some out-of-scope function call warnings
- Added AutoView Disclaimer
- Added minimum hammer size compared to ATR to prevent detecting tiny hammers & stars
- Added lowest low/highest high lookback to hammers & stars
- Added option to round SL pips to remove decimals (on by default)
- Fixed SL label drawing over the top of Win label if both target & SL are hit on the same bar
- Removed "overwrite new trades" setting as it is not relevant for this script

9 Jun 2021

Nota Keluaran

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- Fixed minor mistake with trade label text

29 Jul 2021

Nota Keluaran

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- Fixed minor bug where script would take trades when ATR was null

20 Okt 2021

Nota Keluaran

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- Released v3.0 of the UPI.
- Updated code to v5 of Pine Script.
- Improved pullback detection accuracy.
- Added PineConnector functionality for auto-trading.
- Updated course material to better explain how to use this script to trade profitably (including my personal strategy rules).
- A few other minor changes - check out the settings guide on my website or YouTube channel (link in my profile).

21 Okt 2021

Nota Keluaran

- Fixed some typos in settings & removed some code that wasn't used

21 Okt 2021

Nota Keluaran

- Fixed a potential bug with automation code

27 Okt 2021

Nota Keluaran

- Fixed time session filter bug

2 Nov 2021

Nota Keluaran

- Fixed bug with AutoView code which caused long position sizes to be calculated incorrectly

4 Nov 2021

Nota Keluaran

- Improved pullback detection accuracy slightly

25 Nov 2021

Nota Keluaran

- Updated code to work with AutoView changes to break-even functionality

14 Dis 2021

Nota Keluaran

- v3.04
- Temporarily added max_bars_back=5000 parameter to attempt to hotfix issue with "Pine cannot determine the referencing length of a series" until I find the culprit variable
- Added warning labels for trades that hit their take-profit AND stop-loss on the same bar (outcome requires manual confirmation)

13 Jan 2022

Nota Keluaran

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- Updated ZenLibrary to v3
- Added option to select pips or price value for PineConnector entry limit order
- Added option to select pips or price value for PineConnector stops & targets
- Added debug option to display AutoView/PineConnector alert string

9 Mac 2022

Nota Keluaran

v3.06:
- Updated ZenLibrary to v5
- Updated code to be compatible with new PineConnector syntax
- Updated trailing stop to work with pips as well as price with PineConnector
- Added Spread Filter setting
- Added EAP SL Algorithm #2
- Truncated decimals on debug label for TP & SL price values

18 Jul 2022

Nota Keluaran

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- Fixed time filter not working properly
- Removed 'when' statements which are now deprecated

26 Jul 2022

Nota Keluaran

Added Stop Loss price source option (allows you to specify what price to use for calculating your stop loss - eg. high/low, open or close).

29 Nov 2022

Nota Keluaran

- Updated version to 3.09 to match UPI script to keep versions consistent (no actual code changes as UPI bugfix update was unrelated to UPS)

22 Dis 2022

Nota Keluaran

- Turned Bar Magnifier feature off by default as many users don't have a Premium plan which is currently required to use this feature, and we are getting a lot of support emails about it. But it is recommended to turn this ON in the Properties tab if you are a Premium user as it will increase the accuracy of your test results (not by a significant margin as it will only affect trades that hit their Take-Profit and Stop-Loss on the same bar which is a rare occurrence, but obviously when backtesting you want results to be as accurate as possible!)

26 Jan 2023

Nota Keluaran

- Added PineConnector symbol override option (settings tooltip explains what it does). Leave blank to disable.

8 Jul 2023

Nota Keluaran

- Cleaned up status bar user inputs and some plots using new display=display.none parameter
- Added (EXPERIMENTAL!) feature that makes the strategy tester calculate position size based on a % of your account balance. Only works on forex markets. The feature may not work on all markets (it was mainly tested using USD currency as the base broker currency and only on the major FX pairs), so use at your own risk and always take the time to ensure the numbers are accurate if you're trading more exotic instruments or base currencies.

22 Ogo 2023

Nota Keluaran

- Added "SL Rounding Fix" setting for non-FX markets that produce rounding errors for SL/TP pips (eg. stock indexes like NAS100)

8 Sep 2023

Nota Keluaran

Added multi-strategy support for PineConnector.

10 Okt 2023

Nota Keluaran

Added "minimum SL distance" - allows user to ignore trades with a stop loss below this number in pips, or override the stop loss to this pip distance if it's below it.

10 Okt 2023

Nota Keluaran

Forgot to update version number

12 Okt 2023

Nota Keluaran

Removed indicator status line display for new minimum SL input (forgot to do this on last update - purely cosmetic, makes chart less cluttered and in line with the rest of the inputs)

11 Jan 2024

Nota Keluaran

Fixed Max Candles Beyond EMA setting not applying correctly

1 Mei 2024

Nota Keluaran

Fixed minimum stop loss pip size override not working properly.

1 Ogo 2024

Nota Keluaran

Adapted alert syntax for PineConnector v3.
Added strategy performance table.
Added monthly performance table.
Added "close all trades at specific time" setting.
Improved fixed-fractional FX position sizing code.
Added Monte Carlo simulation code (trade skipping and/or random spread).

1 Ogo 2024

Nota Keluaran

Fixed PineConnector closeall() alert command being triggered for Exit Time even if PineConnector was disabled.

2 Ogo 2024

Nota Keluaran

Added new setting for overriding ticker ID sent to PineConnector alerts (Symbol Override).

4 Ogo 2024

Nota Keluaran

Added a minor improvement to Monthly Performance Table code.

8 Ogo 2024

Nota Keluaran

Fixed PineConnector sending too many decimal places with limit orders
Added Monte Carlo Cycle input to Backtester settings - does nothing to the script, it's just a way to auto-refresh strategy tester with new MCS randomness as whenever an input changes the script re-executes and runs the backtest again

25 Okt 2024

Nota Keluaran

Fixed PineConnector alerts generating double-alerts for market buy/sell orders
Fixed "Everyday" setting for the time of day to close trades not working

14 Nov 2024

Nota Keluaran

Added annual commission drag estimation to "Return" tooltip (this number is the minimum ROR to break-even after commissions, and is a rough estimate based on whatever commission pricing and starting balance you use with the strategy settings) - formula: Total Commission Costs / Initial Capital / Total Years in Test. I did not increase version number for this minor update so this is still v3.18.

14 Nov 2024

Nota Keluaran

Improved monthly performance table metrics accuracy with regards to commission drag

29 Nov 2024

Nota Keluaran

Updated to latest Pine Script version 6 syntax (no version change; no changes were necessary).

30 Nov 2024

Nota Keluaran

Updated Zen Library import to version 9.

11 Dis 2024

Nota Keluaran

Minor bugfix: trailing stop strategy comments were incorrectly displaying negative pips as the trailing stop was interpreted as a loss in the pip display calculation; strategy stats were not affected by this bug, only on-chart comments.

7 Jan

Nota Keluaran

Added a new setting to Backtester Settings: Ignore Compounding.

Enabling this setting will force the script to use initial equity for risk calculations instead of current equity. Used for fixed risk $ amount. eg. If you turn this on with a starting balance of 10,000 and 1% risk, then the script will only ever risk $100 per trade and will ignore compounding.

7 Jan

Nota Keluaran

Added a new setting to Backtester Settings: Ignore Compounding.

Enabling this setting will force the script to use initial equity for risk calculations instead of current equity. Used for fixed risk $ amount. eg. If you turn this on with a starting balance of 10,000 and 1% risk, then the script will only ever risk $100 per trade and will ignore compounding.

7 Jan

Nota Keluaran

Updated to v2 of PineConnector library which fixes a bug with some orders not parsing comment=/secret= correctly. Incremented version number to v3.19

7 Jan

Nota Keluaran

Updated to v2 of PineConnector library which fixes a bug with some orders not parsing comment=/secret= correctly. Incremented version number to v3.19

21 Jan

Nota Keluaran

Better clarified some setting tooltips

21 Jan

Nota Keluaran

Fixed trade's stop loss pip label accidentally displaying profit pips instead of loss pips on chart
Fixed break-even "Count As Win" setting not working properly when commission costs were used
Added tooltip to R:R to explain how that measurement is calculated (avg win $ ÷ avg loss $)
Incremented version number to v3.20 to reflect these important bugfixes