OPEN-SOURCE SCRIPT
PED
Very simple script that suggests entry points based on a Pivot Pullback structure. It's an entry tool, rather than a full strategy, giving a way to consistently use an Entry Pattern with a set Stop and Target.
It needs something else, whether mechanical or discretionary to decide if the market is actually set up for an entry, since this script will draw its markers in every market condition, including ones unsuited to this type of Pullback trading
Works by detecting a high point and then a 2+ candle PB, trading only Longs/Shorts Above/Below the MA.
It needs something else, whether mechanical or discretionary to decide if the market is actually set up for an entry, since this script will draw its markers in every market condition, including ones unsuited to this type of Pullback trading
Works by detecting a high point and then a 2+ candle PB, trading only Longs/Shorts Above/Below the MA.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.