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Pullback Viewer: Pullback Viewer is designed to show valid pullback points in a bearish or bullish trend. What is considered a valid pullback? A valid pullback - English

Download the 'Pullback Viewer' Technical Indicator for MetaTrader 4 in MetaTrader Market

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 this indicator is useful?

It's useful to understand and spot potential …