OPEN-SOURCE SCRIPT

Trend & Pullback Cycle

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How to use.

Trend Identification:

Green Columns: The cycle is above 50. Look for Longs.

Red Columns: The cycle is below 50. Look for Shorts.

Pullback Detection:

I added a Colour Change feature. If the Green bars turn Dark Green, it means momentum is fading (a pullback is happening). This is your signal to get ready to enter or add to a position once it turns Bright Green again.

The Yellow Line:

This is your trigger. In the screenshot, you see the bars cross the yellow line.

Entry Signal: When the Histogram crosses above the Yellow line (while generally green) or crosses below it (while generally red).

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