OPEN-SOURCE SCRIPT

Micropullback Detector w/ Stop Buy & Exits (1 min)

**Micropullback Trading Strategy**

This strategy is designed for day traders on the 1-minute chart, identifying high-probability pullback entries within an upward trend. It starts with detecting a **large green candle** with **high relative volume** (based on a volume SMA and ATR filter) as the wave initiation point. The pullback phase follows, requiring shallow retracements (less than 50% of the move) with controlled volume (red candle volume below the largest green candle) and no more than 3 consecutive red candles. An **entry signal** is triggered when a green candle breaks above the high of the previous candle during the pullback.

Risk management includes a **stop-loss** set slightly (2 ticks) below the lowest point of the pullback and a **take-profit** at a 1:2 risk-to-reward ratio. The strategy dynamically tracks wave metrics such as start price, highest price, and largest green volume to ensure accurate pullback validation. Visual markers include blue diamonds for large green candles and green arrows for entry signals.

Leveraging 1-minute charts, the strategy provides granular insights and real-time alerts for timely execution. It’s perfect for intraday momentum traders looking for precise entries and disciplined risk management.
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Script open-source

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