OPEN-SOURCE SCRIPT
5M Displacement Pullback Indicator
5M Displacement Pullback Indicator,
Using 5M timeframe, wait for a strong displacement candle. When that happens you will wait for pullback into 50% of the displacement and enter. Stop goes under the displacement and shoot for 2:1 R:1
Using 5M timeframe, wait for a strong displacement candle. When that happens you will wait for pullback into 50% of the displacement and enter. Stop goes under the displacement and shoot for 2:1 R:1
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.