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.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.