Ultimate Pullback Indicator

High-Quality Pullback Alerts & Trading Signals!

This script is designed to be used only on TradingView.

TradingView Username:

47 USD / month


This low price includes priority support, several video lessons on how to use it, and my own personal trading strategy rules that I’ve used to extract profits out of the markets for 3+ years!


This is the annual equivalent of 2.8% of a $20k account. If you’re an active trader then this script literally pays for itself!

Join My Mailing List for a 30-Day FREE TRIAL!



This Is For Traders Who Value Their Time.

Our most valuable resource as traders is not capital – it’s time.

You can always make more money. You can’t buy more time.

Or can you?

There are many reasons why this indicator is worth buying, but the main ones that come to mind are:

— Save time with your analysis & reduce screen-time by using alerts
— Save time backtesting by identifying signals, stops & targets quickly
— Save time by stealing my strategy rules which took years to optimize
— Save time executing & managing trades using the script’s inbuilt tools
— Potential to make more money from this information than you spent!

Free Trial

I’m an experienced trader myself and so I know you might be skeptical that this pullback indicator is worth your time and money.

But I put a lot of work into this script over the past few years to ensure it’s the best it can possibly be, and I’m confident you’ll love it.

That’s why I’m offering a free one month trial of the indicator. All you need to do to initiate your trial is Join My Mailing List!

Once you’ve subscribed to the list I’ll receive an email notifying me of your interest. As soon as I can, I’ll log in to TradingView and grant you access to the indicator and send you an email containing detailed instructions on how to get started.

Make sure to include your TradingView username so that I can find your profile to add to the list of authenticated users. And rest assured I will never send you spam or give your email out to anyone.

I’ve created several detailed video guides on how to use the indicator, but if you have any questions during (or after) your trial you can contact me any time or leave a comment below.

I look forward to hearing from you!

Monthly Subscription

If you’re happy with the Ultimate Pullback Indicator once your trial has finished, you can purchase access to it indefinitely for a monthly fee of 47 USD by filling out your TradingView username and clicking the button below:

TradingView Username:


This price includes lifetime updates and support for so long as you remain a subscriber.

It also comes with several exclusive video lessons explaining in great detail how to backtest and trade the script using my profitable trading strategy rules – including a 1-target approach for day trading and a 2-target trailing stop trend-following approach for higher timeframes.

I intentionally priced the script at the yearly equivalent of around just 2.8% of a $20,000USD account.

If you’re a serious trader, then this subscription price is a serious bargain! The script literally pays for itself over the long-term – assuming you apply it properly.

Now legally I’m not allowed to make any income guarantees, and there are many risks associated with forex trading. All of these numbers are theoretical. Your success will always depend on your personal ability as a trader no matter how good the tools at your disposal are.

There’s no “quick fix” or shortcut to success and you’re responsible for your own financial destiny and the work required to achieve your desired results.

But if you’re risking 2% per trade or less (which is advised), then this price equates to just a single losing trade per year. And if you use this script as it’s designed and taught to be used, you should theoretically be able to make far more than +2% on your average winner!

The risk:reward is clearly in your favor:

Example of my optimized 4HR portfolio’s backtesting results

Plus, if you run into any issues with the indicator whatsoever then I will personally help you resolve them for as long as I’m alive, you’re subscribed, and TradingView continues to operate.

You get a priority direct line straight to me.

I’ll also continue to release new advanced instructional videos from time to time designed to help you get the most out of the indicator, hence the monthly subscription.

I really can’t charge any less than this without feeling like I’m ripping myself off given the amount of time I spend optimizing this strategy, improving the script and helping all of the traders who use it.

If you support me, I’ll support you!

Note: Because I offer a 30-day free trial to all of my scripts I do not offer refunds.


Lifetime Access

Alternatively, if you have a high degree of confidence in my work and you would like to support my efforts in exchange for lifetime access to all of my premium indicators (including any I make in the future), you can purchase a lifetime access license below for a one-time payment of $997:

TradingView Username:


Strategy Rules

I’ve spent the last 3+ years customizing my trading mentor Steven Hart’s wildly successful Pullback Strategy and adapting it for intraday timeframes for momentum and day trading in addition to higher timeframes for trend-following.

The script includes everything his original pullback strategy has to offer – and much more!

If you’re brand new to trading then you may want to take his course before buying this script, but if you’re already experienced or you don’t have $197 per month or $997 to spend on a lifetime membership, then this product is for you!

For paid members, you will get access to my written rules in the form of 2 PDF files, my backtesting spreadsheets for proving that the script works on historical data, and several detailed video lessons explaining exactly how to use the script to its fullest potential:

Feedback From Traders

What is the Ultimate Pullback Indicator?

I personally use this script to trade pullbacks in the forex markets and it saves me a significant amount of time in both my backtesting and live trading process.

This indicator is designed to detect high-probability pullback trading opportunities by analyzing price action in a very specific manner. I designed it for application in the forex markets, but it can be used profitably in all markets with the appropriate adaptation of rules.

By combining simple trend filters with various advanced candlestick patterns it detects high-probability trend-continuation setups (and optional exits).

If you use this script to set alerts then you will never miss a pullback trading opportunity ever again!

I personally use this indicator to profitably trade pullback signals in the forex markets on multiple timeframes, from the 15-Minute chart to the 4-Hour and Daily chart. I also included an option that will draw your stop loss size (in pips) directly to your chart above each setup which I’ve found to be extremely helpful for speeding up my backtesting and trade management process.

There are many different variations of rules you can use with this indicator to create consistently profitable strategies including many I haven’t even thought of, so I don’t want to limit your imagination – but you can view the performance of my personal strategy in my forex trading journal.

This pullback indicator has proven its value to myself and many of my trading friends who use it in their own trading. If you want to learn the specific rules that I use to trade profitably with this indicator, check out my trading mentor’s website.

Please note that this indicator is not intended to be used to automate your trade execution and management. Through the use of 3rd Party APIs this may be possible, but that is not the purpose of this script and so I provide minimal support for that functionality.

I currently use this script to manually trade the forex markets, but I’m also constantly testing and improving it. Therefore this is a constant work-in-progress and I’m always taking meticulous care to make it better and improve the strategy it’s based on.

That’s why this is a premium script that requires payment to access. Charging money gives me a strong incentive to continue this effort for my customers. The other advantage of charging for it is that it retains exclusivity to only a select few dedicated traders who want to enhance their edge.

If you don’t want to pay for this script then I completely understand and I have plenty of other free scripts that you might be interested in!

How It Works

I created this script because I wanted to be alerted to high-probability trend-continuation and momentum setups.

It’s inspired by Steven Hart’s pullback strategy which is the first profitable forex trading strategy I ever learned. The accuracy of the script is fairly high now which is why I decided to release it publicly.

Basically, it works as follows:

When price is above the 50-EMA the script will wait for a pullback of at least two red candles. Once we have that condition met, it begins searching for advanced entry patterns.

The opposite is true for short trades – price must be below the 50-EMA and must pull back by at least two green candles before it will begin searching for entry reasons.

Once it detects a valid entry reason it will draw a green arrow (for longs) or a red arrow (for shorts) and your stop loss and target price (the red and green lines).

But these settings can be customized however you like. You can change the EMA to any period you want, you can adjust your stop loss distance, you can enable or disable the entry and exit reasons as you wish, and you can adjust the rules for some of the patterns.

For example, you can make hammer and shooting star candles require a wick that is 3x the size of the candle body in order to be considered valid.


Bullish Pullback Signals

  • Price must be above the EMA
  • Price must pull back by at least 2 red candles
  • Price must put in an advanced candlestick entry pattern


Bearish Pullback Signals

  • Price must be below the EMA
  • Price must pull back by at least 2 green candles
  • Price must put in an advanced candlestick entry pattern


Candlestick Entry Patterns

Bullish Entry Signals

Ultimate Pullback Indicator - Bullish Engulfing Candle Example
SWING-LOW ENGULFING
Ultimate Pullback Indicator - Bullish Doji Example
SWING-LOW DOJI
HAMMER
SWING COLOR CHANGE
SWING-LOW ENGULFING
SWING-LOW DOJI
Ultimate Pullback Indicator - Bullish Hammer Candle Example
HAMMER
SWING COLOR CHANGE

Bearish Entry Signals

SWING-HIGH ENGULFING
Ultimate Pullback Indicator - Bearish Doji Example
SWING-HIGH DOJI
Ultimate Pullback Indicator - Bearish Shooting Star Example
SHOOTING STAR
SWING COLOR CHANGE
SWING-HIGH ENGULFING
SWING-HIGH DOJI
SHOOTING STAR
SWING COLOR CHANGE

I’ll be adding more entry patterns as I identify more that work well with this strategy.
Feel free to email me any suggestions!


Exit Reasons

The script also comes with some inbuilt exit signals which I use for my own personal testing and trading.

HHHC/LLLC

The first exit reason is a higher-high higher-close / lower-low lower-close.

This signal is generated when price exceeds the profit target and then prints a higher-high higher-close candle (for short exits) or a lower-low lower-close (for long exits).

Ultimate Pullback Indicator - Higher High Higher Close Exit Reason Example
Higher-High Higher-Close
Lower-Low Lower-Close

The second exit reason is the same as above, but it requires two higher-high higher-close or lower-low lower-close candles in a row.

This exit reason can keep you in trending moves longer which may make more money in the long-term, but can also sacrifice profits on your average winning trade which might increase your max drawdown – so one is not better than the other.

EMA Breach

The third exit reason is a break and close above or below the EMA.

If you’re in a short trade, the script will generate an alert when price closes above the EMA. If you’re in a long trade, then the alert will occur when price closes below the EMA.

Pretty simple, but very effective.

Bearish EMA Breach
Bullish EMA Breach

Be mindful that this method will sacrifice profits on your average winning trade which might increase your max drawdown.

So even though it can capture massive moves in the market, it still requires skilled discretion to know when to use it and when not to use it in order to execute it profitably over the long term.

For beginner traders and more conservative traders, I recommend sticking to either a fixed target or a simple HHHC/LLLC exit.

Fixed Target

Fixed Target

Alternatively, you could use a fixed target – simply set a take-profit order at the green line whenever a signal is generated (and a stop loss order at the red line).

This isn’t the most ideal way of trading because it limits your profit potential, which is never a great idea. But if you struggle with self-discipline and consistency issues with your trading, then this is a very effective way to train yourself to stick to the plan.

I used this method to trade profitably for over six months before I began employing more advanced exit methods, and I had a handful of months where I gained 10%+ while risking only 1% per trade – so never underestimate the power of fixed targets when you have a highly accurate entry strategy!

RSI Engulfing / RSI Exhaustion

The RSI Engulfing Exit searches for an engulfing candle in the opposite direction of the trade after the RSI has gone overbought/oversold.

The RSI Exhaustion Exit does exactly the same thing, except instead of searching specifically for an engulfing candle, it searches for any candle of an opposite color.

Trailing Stop

ATR Trailing Stop Loss
ATR Trailing Stop Loss Example

The final method I recommend using with this script is a basic trailing stop loss.

This method requires a thorough understanding of how to read trend, but it’s extremely effective and ridiculously simple to execute so I highly recommend testing your strategies with it.

As of v2 of the UPI, I have added an inbuilt ATR trailing stop feature:

Inbuilt ATR Trailing Stop

I also created a free ATR trailing stop loss indicator designed to help with this:

And if you’re unsure of how to objectively define a trending market, I wrote an article that explains in detail how I personally analyze trends (taught to me by my trading mentor Steven Hart) – click here to read it.

I also have an article explaining how I use the EMA and the ATR indicator in order to create profitable trading strategies which you might find helpful – click here to read that.

That should be enough to get you started, but I encourage you to think up and backtest your own exit reasons.

Entering a trade is half the battle, and this script will do a good job of identifying great entry points. It’s up to you to manage the position profitably according to your personal preferences and edge.

I’ll be adding more exit reasons as I identify more that work well with this strategy.
Feel free to email me any suggestions!


Strategy Tester

I created a companion script to go along with this indicator called the Ultimate Pullback Strategy script.

This script can be used with TradingView’s automatic backtesting system to scan through currency pairs to find which ones perform best with this strategy on whichever timeframe you want to trade it on.

Keep in mind that this strategy script is not 100% accurate and should not be used to make trading decisions indiscriminately. Although I did my best to make it as accurate as possible, nothing compares to the power of the human eye and a talented trader’s discretion. Even the best coders in the world can’t get their scripts to see the markets the way you can.

So rather than blindly trading the signals based on whichever pairs win the most, I recommend using this script to prioritize which pairs you plan to manually backtest based on the win rate (“Percent Profitable”). The higher the win rate, the higher the likelihood that it will perform well with extra rules and trading filters.

I recommend backtesting a minimum of at least 100 trades per currency pair and timeframe, but the more you test the more confidence you’ll have. There is no limit to how many trades constitutes a “good” backtest – just test it until you’re certain it’s going to work.

Obviously there’s no guarantee that a strategy will continue to perform based on its backtesting results, but other than forward-testing and demo trading it (which I also recommend if you struggle with self-discipline), it’s the best we have – so it is wise to take advantage of that information.

If you need help with developing a rules-based trading plan to backtest then you might find this video I made helpful. If you’re inexperienced at trading and have no idea what I’m talking about then I highly recommend signing up to my trading mentor’s training program before you buy this script.

This strategy performs best when combined with basic trend filters, so it is important that you know how to read price action. By only taking signals that are in confluence with the underlying trend you can potentially increase the accuracy of this indicator to above 60% on some pairs (depending on your risk-reward ratio).

In the above example, this indicator has a 57% win rate with a 1:1 risk-reward ratio on CAD/CHF’s 4-Hour chart with the default settings. If you were to backtest this pair with a trading plan designed to filter out sub-optimal setups then you could potentially increase that win rate to well over 60%.

If you get creative with multiple or extended targets and exit management, then with some tweaking and testing you can get this strategy to perform however you prefer it to with whatever win rate you feel comfortable with.

This companion script is a work-in-progress. I’m working on implementing all of the advanced exit reasons. For now the strategy script only supports testing of fixed targets.


Settings: Video Guide

Here’s a video I created explaining what the various options and settings functions do so that you can use them to their fullest potential.

These settings will allow you to adapt the indicator to your personal preference:

Adding the indicator to your chart is easy once you’ve been approved for a free trial (or purchased access). All you need to do is search for the indicator in your Indicators & Strategies list and click on it, like so:


How To Set Alerts

If you have any trouble setting alerts, try reading this article where I explain in detail how TradingView’s alert system works.

For a more detailed explanation of the various alert options, watch this short instructional video:


Risks Associated With Forex Trading

Trading foreign currencies can be a challenging and potentially
profitable opportunity for investors. However, before deciding
to participate in the forex market, you should carefully consider
your investment objectives, level of experience, and risk
appetite. Most importantly, do not invest money you cannot
afford to lose.

There is considerable exposure to risk in any foreign exchange
transaction. Any transaction involving currencies involves risks
including, but not limited to, the potential for changing political
and/or economic conditions that may substantially affect the
price or liquidity of a currency, investments in foreign exchange
speculation may also be susceptible to sharp rises and falls
as the relevant market values fluctuate.

The leveraged nature of forex trading means that any market
movement will have an equally proportional effect on your
deposited funds. This may work against you as well as for you.
Not only may investors get back less than they invested, but
in the case of higher risk strategies, investors may lose the
entirety of their investment. It is for this reason that when
speculating in such markets it is advisable to use only
risk capital.

Trading foreign exchange on margin carries a high level of risk,
and may not be suitable for all investors. Past performance is
not indicative of future results. The possibility exists that you
could sustain a loss of some or all of your initial investment
and therefore you should not invest money that you cannot
afford to lose. You should be aware of all the risks associated
with foreign exchange trading, and seek advice from an
independent financial advisor if you have any doubts.


Updates / Change Log

Strategy Tester

Added Strategy Tester script for TradingView’s automatic backtesting system. Subscribers and Free Trial members can access this companion script by clicking here.

v1.1:

Added option to draw Stop Loss distance (in pips) directly onto the chart as a label. Helps a LOT with backtesting!

115 Pips = Stop Loss Distance

Settings

Draw SL Labels On Chart:
If this is enabled then the indicator will draw the stop loss size (in pips) for each setup directly onto your chart.

Round SL To Whole Number:
This will round your stop loss size to the nearest round number. Great for backtesting.

SL Label Offset:
Increasing this value moves the labels to the left. This is useful if the labels cover up your stop loss line.

v1.2:

  • Added option to change RSI values
  • Fixed EAP SL drawing to chart (purple line bug)
  • Fixed gaps being detected as engulfing candles
  • Added {{ticker}} tag to alerts message

v1.3:

  • Added option to separate Long & Short alerts
  • Added option to use 2nd EMA
    • Eg. 50 EMA must be > 100 EMA to detect setups

v2.0

  • Re-wrote entire source code from scratch
  • Functionality is mostly the same, but accuracy has been vastly improved
  • Many new cosmetic and settings features added
  • Script now shows trade stats visually like win rate, R:R etc.

v2.01

  • Fixed rejection wick setting bug
  • Added option to ignore long or short setups
  • Added option to change Moving Average types (HMA, DEMA, VWAP etc)
  • Fixed “Exit Reasons + Target” bug
  • Added fixed pip SL option
  • Added new setting – R:R To Trigger Exit

v2.02

  • Added time session filter
  • Added moving average angle filter
  • Added forex account balance + risk management (for AutoView)
  • Fixed JPY pairs displaying incorrect stop loss sizes

v2.03

  • Improved hammers & shooting stars detection
  • Added start date filter
  • Separated all the various alert conditions


Source Code

The source code to this script is private and proprietary. As it took me a long time to create this indicator I’ve decided to keep this project’s source code hidden.

Currently the only way to access the source code is to sign up to my Pine Script Mentorship Program.

If you are a Pine Script coder and you’re curious about the formula behind this script then you can check out the source code to my free Aggressive Pullback Indicator which is very similar.

Last Updated: 25th November, 2020


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ken choi
ken choi
3 months ago

I’m wondering if the indicator works for swing trading for stocks?

racom
racom
Reply to  ken choi
1 month ago

That’s what I look forward to try it on – after backtesting.

Jacob
Jacob
1 month ago

Hi Fellow Queenslander, I doing the EAP Course and my first thought when learning about Steven’s Pullback strategy was to program this as an indicator. When I was looking for existing indicator I came across your UPI. Seems you’ve done the hard yards already! Solid piece of work as far as I can assess, Matt. I’ve signed up for a trail and will do a bit of testing on the demo account. What I’ve seen in the videos is that there are quite a number of variables. Some just for aesthetics but others that determine the entry/exit logic. Is it… Read more »

THOMAS MARLOW
THOMAS MARLOW
17 days ago

Hey Matthew, I hope you are well! Was wondering the best way to get in touch regarding a pine script setup, was wondering if you could point me in the right direction. Much appreciated! Thomas