Buy The Retrace study
A trend-following strategy entering pullbacks
Simple but efficient
The components of the script:
-MTF ATR based Trend
-Fib based cloud to help determine the trend
-Oscillator which is based on the current close relative to the close-only high-low range over a given period of time
The signal frequency can be changed on:
- Period - Length of the period to look for - i.e 25 means, the last 25 candles
- Bullline - signals created if oscillator above this level
- Bearline - signals created if oscillator below this level
I'd recommend taking the first few signals once the trend has changed.
Alerts are available as:
- First long / short signal
- Long / short signal
- Take profit long / short signal
- HTF trend change any direction
- HTF trend change up / down
Does not repaint - however, wait for a candle to close before entering a signal.
Simple but efficient
The components of the script:
-MTF ATR based Trend
-Fib based cloud to help determine the trend
-Oscillator which is based on the current close relative to the close-only high-low range over a given period of time
The signal frequency can be changed on:
- Period - Length of the period to look for - i.e 25 means, the last 25 candles
- Bullline - signals created if oscillator above this level
- Bearline - signals created if oscillator below this level
I'd recommend taking the first few signals once the trend has changed.
Alerts are available as:
- First long / short signal
- Long / short signal
- Take profit long / short signal
- HTF trend change any direction
- HTF trend change up / down
Does not repaint - however, wait for a candle to close before entering a signal.