Example - MA-Cross Retracement Detection — Indicator by JayRogers

supportandresistance ema example tutorial trend retracement

The retracement tracker function(s) in this script outline how to:

Track conditions using "toggle" booleans.
Use multiple coinciding conditions to trigger an event just once.

What is a retracement?

"Retracements are temporary price reversals that take place within a
larger trend. The key here is that these price reversals are temporary
and do not indicate a change in the larger trend."

Quote Source: https://www.investopedia.com

Release Notes:

Typo fix.

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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