Simple script to identify pullbacks in an uptrend. Indicator will add yellow flags if ideal conditions are met. Additionally plots SMA20, SMA50 and SMA200. Use this indicator in combination with observed price action and your own strategy. Do no trade blindly on this indicator.
Conditions: Price above 200MA 50MA above 200MA 20MA near 50MA RSI reset below 55 Price delta is close to delta between 20MA and 50MA (trying to filter out volatile moves) Closed price is near 20MA (setting up again for a move)
Notes de version
Added both Long and Short Pullback flags Added adjustable moving averages in Settings of indicator, Default: SMA 20, 50, 200 Fixed Settings inputs
Notes de version
Updates: - flag pullback when price closes below the 20MA. - flag allowing 50MA to be slightly below 200MA (within 5%)
Notes de version
Improvements to pullback indicator:
1. Added two flags for Long pullback indicator Yellow diamond when previous low is still above the 50MA (default settings) Yellow up-arrow when previous low went below the 50MA (default settings) - best possible pullback 2. Added RSI reset as input parameter (default setting at 55)
Summary: Pay attention when seeing the diamond. Best entry is when you see the Up-arrow.
Enjoy!
Notes de version
Fixed titles for the Long flags - you can use these when setting your alerts in TradingView
Ce script est publié en code source fermé et vous pouvez l'utiliser librement. Vous pouvez le préférer pour l'utiliser sur un graphique. Vous ne pouvez pas visualiser ou modifier son code source.
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.