Pullback Finder Auto

Pullback Finder Auto — Intraday Momentum Cooling Detector

Pullback Finder Auto is designed to find stocks that have made a strong intraday run from the open and are now cooling off while still positive — the classic pullback zone where continuation entries often form.

It automatically measures the percentage change from today’s open and highlights bars where:

the stock has already run at least a chosen amount (for example +10 % above its open), and
the current price is still up but within a defined pullback range (for example between +3 % and +8 % above the open).
When those two conditions are met, you’ll see green graphics on your chart:

Green triangle markers under the candle.
Optionally, small green PB labels such as “PB 5.2 %” showing the exact percentage from open when the setup occurs.
A green highlight in the sub‑window or line plot if you left the “Change from Open %” plot active.
These are your visual cues that a pullback has formed — a stock that previously ran and is now pulling back while holding strength.

How it works

The script continuously monitors:
• High % from Open = (high − open) / open × 100
• Current % from Open = (close − open) / open × 100

A “Pullback” condition triggers only if:

the high % is greater than or equal to your minimum run threshold, and
the current % sits between your minimum and maximum pullback percentages.
When both are true, the indicator plots the green triangle and optional label.

Default parameters

Min Run % = 10
Min Current % = 3
Max Current % = 8
Session Start = 09:30 – 16:00 US Eastern

All can be changed to fit different volatility levels.
Lower values catch smaller moves; higher values restrict signals to explosive runners.

Using it in real time

During live trading, Pullback Finder Auto updates with each candle.
When a bar first enters the target zone, a green triangle and PB label will appear immediately under that candle.
These are dynamic: if price moves out of the valid zone on the same bar, the marker may disappear.
You can create an alert on “Pullback Finder Auto – Pullback Candidate” to be notified whenever new triangles appear across your active symbols.
This works on any timeframe:

use shorter timeframes such as 1‑minute or 5‑minute charts for fast, intraday detection,
use longer timeframes for a broader view of the day’s market structure.
Using it on past data (scanning backwards)

When you scroll back through history, past green triangles remain visible at every bar where the condition was true at that time.
The PB labels next to those candles show exactly how far above the open the stock was trading during the historical setup.
Use this for visual back‑testing: study how price reacted after these pullback points, adjust the thresholds, and refine your criteria for different markets.
The grey or teal line under the chart (if enabled) shows the percent‑from‑open curve so you can see the full run‑and‑cool pattern leading into each triangle signal.

If you convert the indicator into a strategy, the same condition becomes historical entry points you can test with the Strategy Tester.

Summary

1. Pullback Finder Auto paints green triangles and PB labels whenever an intraday pullback fits your criteria.
2. It runs dynamically in real‑time and also preserves markers for historical review.
3. Adjust the thresholds to match volatility or timeframe.
4. Ideal for visual scanning, watchlist alerts, or integration into a lightweight screening strategy.