Example - MA-Cross Retracement Detection

JayRogers Updated   
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.


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