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Pullback Viewer

5
Pullback Viewer is designed to show valid pullback points in a bearish or bullish trend.

What is considered a valid pullback?

A valid pullback needs to have a body close outside the previous candle high (in a bearish trend) or previous candle low (in a bullish trend). If the candle wicks out the previous candle, it's not a valid pullback.

Pullback must liquidate the previous candle with a clean candle body close.

When is this indicator useful?

It's useful to understand and spot potential key levels, where you can expect the reaction of the price.

Examples how you can use valid pullbacks:
  • Identify supply and demand zones
  • Spot key levels for support and resistance
  • Use as anchor points for trendlines
This indicator is a valuable guideline to spot the important swing points in trending markets.

Timeframes and symbols

Pullback viewer can be used regardless of the timeframe you are using, or symbol that you are trading.


Reviews 1
lywer
139
lywer 2022.11.10 18:15 
 

very usefull indicator.thank you very much.

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Daniel Stein
4.67 (33)
Get your daily market update with details and screenshots via our Morning Briefing  here on mql5  and  on Telegram ! Do you want to become a constantly profitable 5-star forex trader? Then  get our Stein Investments trading tools  and send us a screenshot to get your personal invitation to our exclusive trading chat with 500+ members. FX Volume is the FIRST and ONLY volume indicator that provides a REAL insight into the market sentiment from a broker's point of view. It provides awesome insig
33 USD
Introducing   Quantum Breakout PRO , the groundbreaking MQL5 Indicator that's transforming the way you trade Breakout Zones! Developed by a team of experienced traders with trading experience of over 13 years, Quantum Breakout PRO is designed to propel your trading journey to new heights with its innovative and dynamic breakout zone strategy. Promotional LAUNCH Price of only   50.00 USD   ! ***Buy Quantum Breakout PRO Indicator and you could get Quantum Trade EA for free !*** Quantum Brea
49.99 USD
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lywer
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lywer 2022.11.10 18:15 
 

very usefull indicator.thank you very much.

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Version 1.20 2022.11.10
Added a new condition to correctly display the pullback when the market gaps.
Version 1.10 2022.06.12
Corrected spelling mistake.