Pullback Candle will signal when price is at the end of a pullback and entering a balance phase in the market (works on all markets)

Also we can expect a Pullback Candle during flash crashes as the theory of this script is when there is a turning point in momentum – this candle will appear and we can look long from this signal.

This candle will only work in Swing Low areas and appear when below an moving average which can be changed in the settings.

This candle will work on all timeframes – HTF provided very good rexpectancy whereas the LTF has a slightly less expectancy.

This candle can be alerted to signal the Pullback Candle when the bar is confirmed and not during.

The way i trade this candle is

1) Candle signal must be in probably area to increase efficiency.
2) Enter on the second candle after candle IS CONFIRMED
3) Set stop loss below Pullback Candle or use ATR value
4) Trade with the trend ie only bullish price action
5) This candle can catch falling knifes – we had one on LUNA before the rally to $7.50
6) Trading with a confluence along with the Pullback is better than solely trading this candle

Please leave a comment.

If we get to 100 likes i will publish the script.

Have a good weekend 🙂