Introducing Pullback Master: A Free Indicator That Counts and Grades Pullbacks
Pullback Master is a new free, open-source TradingView indicator. It finds the trend, counts every pullback that holds inside it, and tells you how deep each one went.
Introducing Pullback Master: A Free Indicator That Counts and Grades Pullbacks
We just released Pullback Master, a free and open-source indicator on TradingView.
Every trend trader waits for the same thing: price coming back to the trend and lifting off again. The hard part is everything around it. Is there really a trend here? Is this the first pullback or the fifth? Did the last one hold cleanly, or did price close through the average and scrape back? Pullback Master answers all of that on the chart.
A trend average and a fan behind it
The trend average is price smoothed over 20 bars. Behind it, a fan of seven slower averages opens up when the market trends and folds together when it chops. A trend only counts when the trend average is rising or falling steeply enough, the fan has opened behind it, and price closes on the right side. If price has crossed the average more than twice in the last 20 bars, the market is choppy and the script stands aside.
Every pullback, counted
Each time price comes back to the trend average and then closes back on the trend side with a candle in the trend's direction, that's a pullback that held. The script counts it, measures how far past the average it went in ATRs, and notes whether it closed through the average on the way.
The ribbon tells you the count
There are no labels on the chart. The ribbon itself shows where you are in the trend: it charges up with each pullback that holds, is brightest around the second and third, and fades again as the trend gets old. While price is at the average the ribbon glows, and the glow dies away over the next bars, so every pullback leaves a soft mark behind it.
The panel says it in words
The corner panel shows the trend and how many bars it has run, how many pullbacks have held (and whether they are getting deeper or shallower), how the last pullback went, where price sits against the 200 average, and the last event.
Alerts cover a new uptrend or downtrend, any pullback that held, the trend ending, and one pullback number of your choice, so you can be told about only the second or third pullback of a trend. Everything is decided on closed bars.
Get it
Pullback Master is free for everyone, no membership needed. Add it on TradingView, or see it with the rest of our free and premium indicators.
Want every setting, the panel and the alerts explained? Read the full Pullback Master guide in the docs.
SimpleAlgo provides educational tools and chart analysis. Nothing here is financial advice. Trading involves substantial risk of loss, and past performance does not guarantee future results.
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Written by
Nikolas MetreveliFounder of SimpleAlgo
Nikolas wrote his first real code at 12 and freelanced software tools and websites for small businesses before finding the markets at 15. He builds and maintains every SimpleAlgo indicator and writes these guides from hands-on use of the tools.
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