Connors Rsi 2 Pullback

ConnorsRSI 2 Pullback MT5

Systematic Trend-Continuation and Short-Term Mean-Reversion Retracement Engine

The ConnorsRSI 2 Pullback indicator for MetaTrader 5 provides an objective analytical framework designed to identify high-probability trend-continuation entries at extreme short-term retracement levels. Active intraday traders and scalpers frequently encounter timing errors during corrective phases: entering prematurely before a pullback completes, suffering stop-outs from erratic boundary wicks around routine support tests, or hesitating during valid trend continuations only to chase overextended moves.

This software algorithmically pairs macro trend direction with dynamic multi-component momentum tests. By identifying when price reaches an extreme short-term stretched condition within a larger structural trend, rejects adverse pressure, and resumes directional flow, the indicator delivers structured on-chart validation strictly upon candle close, delivering fully non-repainting execution references.

Algorithmic Logic and Trade Validation

The calculation engine operates exclusively on closed bar data. Historical signal markers remain anchored to their respective price bars and do not recalculate, shift, or repaint over time.

Bullish Pullback Setup (BUY)

• Trend Baseline: The algorithm validates a confirmed upward structural trend.
• Extreme Retracement: Price action executes a sharp corrective pullback into an extreme oversold condition within the cyclical momentum structure.
• Momentum Resumption: A bullish expansion candle closes firmly, confirming the completion of the dip and resumption of upward momentum.
• Execution Reference: Confirmation is locked strictly at the setup candle close. The opening price of the immediate subsequent bar serves as the operational execution reference.

Bearish Pullback Setup (SELL)

• Trend Baseline: The algorithm validates a confirmed downward structural trend.
• Extreme Retracement: Price action executes a sharp corrective rally into an extreme overbought condition within the cyclical momentum structure.
• Momentum Resumption: A bearish expansion candle closes firmly lower, confirming the completion of the counter-move and resumption of downward momentum.
• Execution Reference: Confirmation is locked strictly at the setup candle close. The opening price of the immediate subsequent bar serves as the operational execution reference.

Integrated Risk Architecture and Target Ladder

Rather than providing isolated directional arrows, the indicator projects an end-to-end trade execution structure directly onto the active chart:

• Dynamic Structural Invalidation (Stop Loss): The Stop Loss reference is automatically positioned outside the recent structural swing extreme, incorporating a configurable volatility buffer to accommodate normal spread variations and short-term market noise.
• Standardized 4-Tier R-Multiple Targets: Profit objectives are mathematically projected based on the initial calculated risk distance (1R):
  • TP1 (0.5R): Initial objective configured for early partial scale-outs on immediate momentum resumption.
  • TP2 (0.8R): Intermediate target capturing standard continuation swings.
  • TP3 (1.2R): Extended target capturing broader trending impulse waves.
  • TP4 (2.0R): Full expansion runner target designed to capture extended trend movements.
• Lifecycle State Tracking: Each projected setup is tracked on-chart with dedicated real-time lifecycle states (Active, TP Hit, SL Hit).

Analytical Modules and Dashboard Capabilities

Multi-Symbol & Multi-Timeframe Scanner Dashboard

• Monitors multiple assets simultaneously across standard timeframes: M15, M30, H1, H4, and D1.
• Active Signal Discovery: Scans and displays active BUY and SELL setups across all monitored symbols from a single workspace.
• Signal Status Tracking: Displays real-time progress of active setups (active, approaching TP, approaching SL).
• Higher Timeframe Confluence: Validates directional alignment between lower-timeframe execution triggers and higher-timeframe trends.
• Market Bias Summary: Provides an integrated directional reading (UP, DOWN, or FLAT) derived from the indicator's trend filter.
• One-Click Chart Navigation: Clicking any dashboard cell immediately switches the active chart to the selected symbol and timeframe.

Whipsaw Mitigation Engine (Signal Brake)

• Suppresses rapid, alternating BUY/SELL flip-flopping within tight consolidation ranges.
• Restricts redundant same-direction signals while a prior setup remains active.
• Enforces a minimum structural R-distance before a new setup in the same direction can trigger.

On-Chart Historical Backtest Panel

• Summarizes historical performance metrics for the currently applied settings directly on the chart:
• Historical hit-rate breakdown across TP1, TP2, TP3, and TP4.
• Sample size display over the configured historical lookback period.
• Highlights the historically optimal target tier for the active configuration.
• Integrated sample-size indicator to assist in judging statistical relevance.

Statistical Notice: Historical distribution figures reflect past price data under specific settings. Past results do not guarantee future performance.

Multi-Channel Alert Architecture

• MetaTrader 5 desktop pop-up notifications.
• Audible sound alerts (.wav).
• Instant push notifications sent to mobile devices via MetaQuotes ID.

Non-Intrusive Graphic Interface

• Three size presets: Small (S), Medium (M), and Large (L).
• One-click minimize and expand toggle.
• Draggable control panel that preserves custom chart coordinates across timeframe changes.

Operational Specifications

• Recommended Assets: Highly liquid symbols including major currency pairs, spot commodities, and major stock indices during active sessions.
• Recommended Timeframes: M15, M30, and H1 provide balanced structural clarity and clean cyclical retracement definition.
• Broker Environment: Compatible with both Netting and Hedging accounts. Low-spread ECN/Raw trading accounts are recommended to maximize target realization fidelity.

Support and Free Demo

• A free demo version can be evaluated directly in the Strategy Tester and on demo charts through the standard MQL5 Market demo feature.
• For setup questions or technical support, please send a message through the author's MQL5 profile.