OPEN-SOURCE SCRIPT
Swing Momentum Pullback Strategy + Checklist
Swing Momentum Pullback Strategy + Checklist
This indicator is a complete swing trading system designed to help traders identify
trend breakouts and low-risk momentum pullbacks, optimized for the Daily Timeframe.
The script combines a long-term trend filter, automated resistance detection, and
specific entry triggers into a single chart overlay, along with a real-time Strategy
Checklist Dashboard that confirms setups at a glance.
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🎯 CORE COMPONENTS
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▸ Trend Filter (Purple Line)
200-period Simple Moving Average (SMA). Acts as the long-term trend filter.
Long setups are only considered when price is above this line.
▸ Momentum Guide (Orange Line)
8-period Exponential Moving Average (EMA). Tracks short-term momentum.
In strong trends, price tends to "ride" this line. Entries are sought when
price pulls back to test this area.
▸ Multi-Month Resistance Line (Orange Horizontal)
Automatically plots the highest price over a user-defined lookback period (in months).
Instantly visualizes the key resistance level a stock must break out above.
▸ Strategy Checklist Dashboard
A real-time table that evaluates Trend, Resistance, and Momentum conditions to
display a clear ✅ ENTER, 🚀 GAP UP, or ⏳ WAIT signal.
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🛠 HOW IT WORKS — TWO SETUPS
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1. The Daily Gap Up ("GAP" Label)
Fires when a stock gaps up with strong overnight momentum.
• Open is at least X% above the prior day's Close (adjustable, default 3%)
• Open is above the prior day's High
• Price must be above the 200 SMA
→ Marked with a green "GAP" label on the chart
2. The Trend Pullback ("ENTER" Signal)
A trend-following entry to join an existing move at lower risk.
• Stock is in an uptrend (above 200 SMA)
• Price dips down to touch or test the 8 EMA
• Candle shows a pullback (red candle or lower close) — confirms we're buying
a dip, not chasing a top
→ Dashboard "Action Signal" turns orange and displays ✅ ENTER
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📋 CHECKLIST DASHBOARD — READINGS
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Trend (> 200 SMA):
🟢 Bullish — Price is in an uptrend. Safe to look for entries.
🔴 Bearish — Price is below the 200 SMA. Stay out.
Above Resistance?:
🟢 Breakout — Price has cleared the multi-month resistance line.
⚪ --- — Price is currently below the key breakout level.
Near 8 EMA?:
🟢 Yes — Price is near the value zone for a potential pullback entry.
Action Signal:
🚀 GAP UP — Strong momentum gap detected.
✅ ENTER — Valid pullback entry confirmed.
⏳ WAIT — No qualifying setup on the current bar.
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⚙️ SETTINGS
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- Momentum EMA Length — Default: 8. Controls pullback line sensitivity.
- Trend SMA Length — Default: 200. Long-term trend filter period.
- Gap Up % Threshold — Default: 3.0%. Minimum overnight gap to trigger signal.
- Resistance Lookback (Mo.) — Default: 3. Months used to find the key resistance level.
- Table Position — Move the checklist dashboard to any corner of your chart.
─────────────────────────────────
⚠️ DISCLAIMER
─────────────────────────────────
For educational purposes only. Not financial advice.
Always manage your risk and use a stop loss.
This indicator is a complete swing trading system designed to help traders identify
trend breakouts and low-risk momentum pullbacks, optimized for the Daily Timeframe.
The script combines a long-term trend filter, automated resistance detection, and
specific entry triggers into a single chart overlay, along with a real-time Strategy
Checklist Dashboard that confirms setups at a glance.
─────────────────────────────────
🎯 CORE COMPONENTS
─────────────────────────────────
▸ Trend Filter (Purple Line)
200-period Simple Moving Average (SMA). Acts as the long-term trend filter.
Long setups are only considered when price is above this line.
▸ Momentum Guide (Orange Line)
8-period Exponential Moving Average (EMA). Tracks short-term momentum.
In strong trends, price tends to "ride" this line. Entries are sought when
price pulls back to test this area.
▸ Multi-Month Resistance Line (Orange Horizontal)
Automatically plots the highest price over a user-defined lookback period (in months).
Instantly visualizes the key resistance level a stock must break out above.
▸ Strategy Checklist Dashboard
A real-time table that evaluates Trend, Resistance, and Momentum conditions to
display a clear ✅ ENTER, 🚀 GAP UP, or ⏳ WAIT signal.
─────────────────────────────────
🛠 HOW IT WORKS — TWO SETUPS
─────────────────────────────────
1. The Daily Gap Up ("GAP" Label)
Fires when a stock gaps up with strong overnight momentum.
• Open is at least X% above the prior day's Close (adjustable, default 3%)
• Open is above the prior day's High
• Price must be above the 200 SMA
→ Marked with a green "GAP" label on the chart
2. The Trend Pullback ("ENTER" Signal)
A trend-following entry to join an existing move at lower risk.
• Stock is in an uptrend (above 200 SMA)
• Price dips down to touch or test the 8 EMA
• Candle shows a pullback (red candle or lower close) — confirms we're buying
a dip, not chasing a top
→ Dashboard "Action Signal" turns orange and displays ✅ ENTER
─────────────────────────────────
📋 CHECKLIST DASHBOARD — READINGS
─────────────────────────────────
Trend (> 200 SMA):
🟢 Bullish — Price is in an uptrend. Safe to look for entries.
🔴 Bearish — Price is below the 200 SMA. Stay out.
Above Resistance?:
🟢 Breakout — Price has cleared the multi-month resistance line.
⚪ --- — Price is currently below the key breakout level.
Near 8 EMA?:
🟢 Yes — Price is near the value zone for a potential pullback entry.
Action Signal:
🚀 GAP UP — Strong momentum gap detected.
✅ ENTER — Valid pullback entry confirmed.
⏳ WAIT — No qualifying setup on the current bar.
─────────────────────────────────
⚙️ SETTINGS
─────────────────────────────────
- Momentum EMA Length — Default: 8. Controls pullback line sensitivity.
- Trend SMA Length — Default: 200. Long-term trend filter period.
- Gap Up % Threshold — Default: 3.0%. Minimum overnight gap to trigger signal.
- Resistance Lookback (Mo.) — Default: 3. Months used to find the key resistance level.
- Table Position — Move the checklist dashboard to any corner of your chart.
─────────────────────────────────
⚠️ DISCLAIMER
─────────────────────────────────
For educational purposes only. Not financial advice.
Always manage your risk and use a stop loss.
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.