The Nelogica Pullback Finder indicator was, fittingly, developed by Nelogica to help identify pullbacks and entry points during an active market trend.
Its formula combines price levels with asset speed indications, generating significant pullback signals in any time frame. Note that pullbacks are the most favorable points to buy or sell along with the trend.
Trading with the Nelogica Pullback Finder
The Nelogica Pullback Finder enables the analysis of the progression between trend establishment and pullback identification.
To add it, right-click the chart, select Add Indicator and type Nelogica Pullback Finder.
Green bars indicate an uptrend, while red bars, below level 0,00, indicate a downtrend.
In this example, we see an ongoing uptrend:
Identifying a pullback: The alert is given when the indicator line moves away from level 0,00. When it returns, the pullback is likely confirmed.
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