OPEN-SOURCE SCRIPT
Svopex Pullback Level
Svopex Pullback Level
A pullback-break indicator that detects valid retracement levels using body-based pivot logic and confirms breakouts with higher-timeframe RSI momentum
confluence. Designed to mark the precise body extreme where a counter-trend move began — and signal when the original trend resumes.
What it does
When price makes a new N-bar low with a red body and the next bar closes green, the indicator walks back through the consecutive red candles and draws a
horizontal line at the highest body of that down-move — your short pullback level. The mirror logic plots a long pullback level at the lowest body of an
up-move that just printed a new N-bar high.
A break of the level (body close beyond it) closes the line and optionally triggers a confluence signal:
- Bullish break of a short level + HTF RSI ≥ HTF RSI-SMA → green dot below the bar + alert
- Bearish break of a long level + HTF RSI ≤ HTF RSI-SMA → red dot above the bar + alert
This filters out countertrend breakouts that happen against higher-timeframe momentum.
Why body extremes (not wicks)
Wick-based pivot levels are noisy — they reset on every false sweep. By tracking only candle bodies, the indicator captures the decision points where the move
actually consolidated, producing levels that act as cleaner support/resistance.
Inputs
Detection
- Lookback for new low/high (bars) — how many bars back must be cleared to qualify (default 20)
- Max bars for walk-back — cap on how far the body-walk searches for the move's origin (default 50)
- Detect short levels — toggle pullback levels from down-moves
- Detect long levels — toggle pullback levels from up-moves
Style
- Short level color / Long level color — independent color pickers
- Line width — 1 to 4
RSI confluence (HTF)
- Mark break + HTF RSI vs SMA filter — master toggle for the confluence dots and alerts
- HTF multiplier — higher timeframe = current TF × multiplier (default 2× — e.g., 1H chart → 2H RSI)
- RSI length — default 14
- RSI SMA length — default 14 (the trigger line)
- Bullish / Bearish confluence colors — independent
Outputs
- Horizontal lines at every pullback level until it breaks
- Green circles below the bar on bullish confluence breakouts
- Red circles above the bar on bearish confluence breakouts
- Alerts with full context: ticker, timeframe, break price, level price, HTF RSI value, HTF RSI-SMA value
How to use
1. Trend trading — wait for a confluence dot to appear at a key support/resistance level (use higher-timeframe structure or your own zones). The HTF RSI
filter ensures you're trading with momentum.
2. Trade management — un-broken pullback levels often act as targets for the next leg.
3. Pullback entries — when price retraces into a fresh pullback level on a lower timeframe, you have a defined invalidation (the level itself) and a defined
target (recent high/low).
Tips
- Tune lookback bars to your timeframe: shorter values (10–15) for scalping, longer (25–40) for swing.
- The HTF multiplier of 2× is a balanced default; increase to 3–5 for stricter momentum filtering, decrease to 1.5 to keep the filter close to the trading TF.
- Levels that get broken without confluence are still useful as price magnets — they just don't qualify as high-probability entries by this strategy.
Credits
Built by Svopex. Open source — fork and adapt.
A pullback-break indicator that detects valid retracement levels using body-based pivot logic and confirms breakouts with higher-timeframe RSI momentum
confluence. Designed to mark the precise body extreme where a counter-trend move began — and signal when the original trend resumes.
What it does
When price makes a new N-bar low with a red body and the next bar closes green, the indicator walks back through the consecutive red candles and draws a
horizontal line at the highest body of that down-move — your short pullback level. The mirror logic plots a long pullback level at the lowest body of an
up-move that just printed a new N-bar high.
A break of the level (body close beyond it) closes the line and optionally triggers a confluence signal:
- Bullish break of a short level + HTF RSI ≥ HTF RSI-SMA → green dot below the bar + alert
- Bearish break of a long level + HTF RSI ≤ HTF RSI-SMA → red dot above the bar + alert
This filters out countertrend breakouts that happen against higher-timeframe momentum.
Why body extremes (not wicks)
Wick-based pivot levels are noisy — they reset on every false sweep. By tracking only candle bodies, the indicator captures the decision points where the move
actually consolidated, producing levels that act as cleaner support/resistance.
Inputs
Detection
- Lookback for new low/high (bars) — how many bars back must be cleared to qualify (default 20)
- Max bars for walk-back — cap on how far the body-walk searches for the move's origin (default 50)
- Detect short levels — toggle pullback levels from down-moves
- Detect long levels — toggle pullback levels from up-moves
Style
- Short level color / Long level color — independent color pickers
- Line width — 1 to 4
RSI confluence (HTF)
- Mark break + HTF RSI vs SMA filter — master toggle for the confluence dots and alerts
- HTF multiplier — higher timeframe = current TF × multiplier (default 2× — e.g., 1H chart → 2H RSI)
- RSI length — default 14
- RSI SMA length — default 14 (the trigger line)
- Bullish / Bearish confluence colors — independent
Outputs
- Horizontal lines at every pullback level until it breaks
- Green circles below the bar on bullish confluence breakouts
- Red circles above the bar on bearish confluence breakouts
- Alerts with full context: ticker, timeframe, break price, level price, HTF RSI value, HTF RSI-SMA value
How to use
1. Trend trading — wait for a confluence dot to appear at a key support/resistance level (use higher-timeframe structure or your own zones). The HTF RSI
filter ensures you're trading with momentum.
2. Trade management — un-broken pullback levels often act as targets for the next leg.
3. Pullback entries — when price retraces into a fresh pullback level on a lower timeframe, you have a defined invalidation (the level itself) and a defined
target (recent high/low).
Tips
- Tune lookback bars to your timeframe: shorter values (10–15) for scalping, longer (25–40) for swing.
- The HTF multiplier of 2× is a balanced default; increase to 3–5 for stricter momentum filtering, decrease to 1.5 to keep the filter close to the trading TF.
- Levels that get broken without confluence are still useful as price magnets — they just don't qualify as high-probability entries by this strategy.
Credits
Built by Svopex. Open source — fork and adapt.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.