OPEN-SOURCE SCRIPT
Pullback Marker (Inside Bars Ignored) by Shadow Quant Trader
Pullback Marker (Inside Bars Ignored)
This indicator is designed to identify pullback highs and pullback lows while completely ignoring inside bars.
How it works:
Every inside bar is skipped from the counting logic.
If multiple candles remain inside the range of the mother candle, all of them are ignored until a real breakout candle appears.
The indicator then evaluates only the real candles, not the inside bars.
Pullback high logic:
A pullback high is marked when the middle real candle forms the highest high compared to the candles before and after it.
If the next candle has the same high, the indicator waits.
If a later real candle then forms a lower high, the first candle of that equal-high sequence is marked as the pullback high.
Pullback low logic:
A pullback low is marked when the middle real candle forms the lowest low compared to the candles before and after it.
If the next candle has the same low, the indicator waits.
If a later real candle then forms a higher low, the first candle of that equal-low sequence is marked as the pullback low.
Features:
Ignores all inside bars in a mother-candle chain
Marks only valid pullback highs and lows
Handles equal-high and equal-low cases correctly
Uses arrows placed close to candles for clear chart reading
This indicator is designed to identify pullback highs and pullback lows while completely ignoring inside bars.
How it works:
Every inside bar is skipped from the counting logic.
If multiple candles remain inside the range of the mother candle, all of them are ignored until a real breakout candle appears.
The indicator then evaluates only the real candles, not the inside bars.
Pullback high logic:
A pullback high is marked when the middle real candle forms the highest high compared to the candles before and after it.
If the next candle has the same high, the indicator waits.
If a later real candle then forms a lower high, the first candle of that equal-high sequence is marked as the pullback high.
Pullback low logic:
A pullback low is marked when the middle real candle forms the lowest low compared to the candles before and after it.
If the next candle has the same low, the indicator waits.
If a later real candle then forms a higher low, the first candle of that equal-low sequence is marked as the pullback low.
Features:
Ignores all inside bars in a mother-candle chain
Marks only valid pullback highs and lows
Handles equal-high and equal-low cases correctly
Uses arrows placed close to candles for clear chart reading
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que cualquier republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que cualquier republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.