Trend Finder Using Pull Back Method {Darkoexe}

This indicator predicts trends using pull backs structure to predict the trend direction. It builds off the flag pattern concept but it uses precise precise measurements to determine trend direction.

A pull back occurs every time the price direction switches then closes either below or above the open of the previous candle depending on the type of pull back, bullish or bearish.

For an up trend to be a defined, when a bullish pull back occurs and does not go below the previous low, if the price then passes above the start of the pull back, an up trend signal will be printed. Only bullish pull backs will be displayed during an up trend.

For a down trend to be defined, when a bearish pull back occurs and does not go above the previous high, if the price then passes below the start of the pull back, a down trend signal will be printed. Only bearish pull backs will be displayed during a down trend.

If the conditions for an up trend or down trend are not met, no trend will be printed. Both bearish and bullish pull backs will be displayed during a no trend.

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//Darkoexe