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OPEN-SOURCE SCRIPT

Aggressive Pullback Indicator

By ZenAndTheArtOfTrading
Updated
This indicator is designed to be used with the rules of Steven Hart's Aggressive Pullback Strategy. It is intended for use on the 4-hour timeframe of certain currency pairs, but will work on all timeframes and instruments. The rules are customizable, but the default settings are designed to reflect the rules of Steven's pullback strategy as closely as possible.

To enable alerts: Add the indicator to the chart and create a new alert with the settings Condition: API , Frequency: Once Per Bar (on Close).

Feel free to message me if you have any questions :)

- Matt.
Release Notes

- Added fractal option for entries to improve signal "quality" (entry candle must be a 3-point fractal)
- Improved signal validity when price is hovering around EMA (according to the strategy rules)
- Implemented optional ATR stop loss algorithm for making stops and targets slightly tighter while still adjusting for volatility.

ATR Stop Loss Algorithm:

If ATR is under 30 then stop loss = 20 pips
If ATR is over 30 but under 50 then stop loss = 30 pips
If ATR is over 50 but under 100 then stop loss = 50 pips
If ATR is over 100 then stop loss = 100 pips
Release Notes
- Added coloured EMA (optional).
Release Notes
- Changed alert message for easier editing.
Release Notes
Changed stops and targets to plot as lines.
Release Notes
Minor text fixes
Release Notes
Added 5-decimal precision setting to indicator for better target/SL accuracy.
Release Notes
Minor improvements
Release Notes
-

Cleaned up the code and simplified the settings interface.

I will be releasing a new-and-improved premium version of this indicator soon with more options and features (the one I use in my own personal trading).

Check my website for more information - zenandtheartoftrading.com/indicators
Release Notes
Converted to Pine Script version 4 and optimized code
Release Notes
Updated to Pine Script v5
aggressiveAverage True Range (ATR)Candlestick AnalysisExponential Moving Average (EMA)HARTMoving Averagespullbackstevenstrategythetradingchannel

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.

Want to use this script on a chart?

ZenAndTheArtOfTrading
My Resources Hub: theartoftrading.com
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