OPEN-SOURCE SCRIPT
Telah dikemas kini Pullback Indicator
The Pullback Indicator is a technical analysis tool designed to identify pullbacks in the price action of a financial instrument. It is based on the concept that price tends to retrace to a previous level of support or resistance before continuing in the direction of the trend.
The indicator is plotted as a series of triangles above or below the price bars, depending on the type of pullback detected. A green triangle is displayed when a bullish pullback is detected, while a red triangle is displayed for a bearish pullback.
The Pullback Indicator uses Inside Bar Range, this number is a user-defined input that specifies the number of bars to look back for the highest high and lowest low.
The indicator classifies four types of pullbacks:
The Pullback Indicator is best used in conjunction with other technical analysis tools to confirm the direction of the trend and to identify potential entry and exit points.
The indicator is plotted as a series of triangles above or below the price bars, depending on the type of pullback detected. A green triangle is displayed when a bullish pullback is detected, while a red triangle is displayed for a bearish pullback.
The Pullback Indicator uses Inside Bar Range, this number is a user-defined input that specifies the number of bars to look back for the highest high and lowest low.
The indicator classifies four types of pullbacks:
- Swing Low - When the price forms a lower low and a higher low than the previous bar.
- Swing High - When the price forms a higher high and a lower high than the previous bar.
- High Low Sweep and close below - When the price forms a lower low and a higher low than the previous bar, but the close is below the previous high.
- High Low Sweep and close above - When the price forms a higher high and a lower high than the previous bar, but the close is above the previous low.
The Pullback Indicator is best used in conjunction with other technical analysis tools to confirm the direction of the trend and to identify potential entry and exit points.
Nota Keluaran
Made changes to the script to identify minor pullbacks. If needed you can change the style as per your requirementNota Keluaran
Update: Checked equal conditionNota Keluaran
Fixed some errorsNota Keluaran
Checked equal conditions and updated inside bar rangeNota Keluaran
Updated Inside bar RangeNota Keluaran
Few bug fixesNota Keluaran
Changes in codeNota Keluaran
Few bug fixesNota Keluaran
Updated Inside bar candles with different colorsSkrip sumber terbuka
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Penafian
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Skrip sumber terbuka
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Penafian
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.