OPEN-SOURCE SCRIPT
Pullback and Throwback Candle [TrendX_]
Pullback and Throwback candles can help traders determine the the potential reversal points
USAGE
The indicator identifies pullback and throwback in overbought and oversold zones by measuring the distance between the price and its relative strength index.
A Pullback is an expected rebound in a downtrend (painted in green area), while a Throwback is a bounceback from an uptrend (painted in red area).
The strategy is useful for valuing reversal points. Accordingly, it can also be helpful for traders to use alongside other Technical Analysis indicators.
DISCLAIMER
This indicator is not financial advice, it can only help traders make better decisions.
There are many factors and uncertainties that can affect the outcome of any endeavor, and no one can guarantee or predict with certainty what will occur.
Therefore, one should always exercise caution and judgment when making decisions based on past performance.
USAGE
The indicator identifies pullback and throwback in overbought and oversold zones by measuring the distance between the price and its relative strength index.
A Pullback is an expected rebound in a downtrend (painted in green area), while a Throwback is a bounceback from an uptrend (painted in red area).
The strategy is useful for valuing reversal points. Accordingly, it can also be helpful for traders to use alongside other Technical Analysis indicators.
DISCLAIMER
This indicator is not financial advice, it can only help traders make better decisions.
There are many factors and uncertainties that can affect the outcome of any endeavor, and no one can guarantee or predict with certainty what will occur.
Therefore, one should always exercise caution and judgment when making decisions based on past performance.
Script open-source
Dans le plus pur esprit TradingView, l'auteur de ce script l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par nos Règles. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.
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Clause de non-responsabilité
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