Stochastic Pullback Above/Below Previous Week High/Low
This script was designed to help swing traders identify pullbacks on trending markets by generating long and short opportunities as explained below:
LONG OPPORTUNITIES: Oversold conditions on Stochastic (14) as long as the oversold candles are located completely above the previous week high.
SHORT OPPORTUNITIES: Overbought conditions on Stochastic (14) as long as the overbought candles are located completely below the previous week low.
Preferable TF: H1
LONG OPPORTUNITIES: Oversold conditions on Stochastic (14) as long as the oversold candles are located completely above the previous week high.
SHORT OPPORTUNITIES: Overbought conditions on Stochastic (14) as long as the overbought candles are located completely below the previous week low.
Preferable TF: H1