The Nelogica Pullback Finder is an exclusive Nelogica indicator designed to identify pullbacks or buy and sell entry points along a trend.
The formula used in the indicator was developed by computing price levels combined with the instrument's velocity metrics, generating significant pullback points across any timeframe. Pullbacks are noted as the most favorable buy or sell points when trading in the direction of the trend.
The Nelogica Pullback Finder allows you to analyze the progression between trend identification and pullback identification.
To add the indicator, right-click on the chart and select the Add Indicator option:
Search for the indicator and click in the button "Add New Window":
Identifying Trends
Green bars indicate an uptrend, while red bars below the Zero Level indicate a downtrend.
In this example, we have an uptrend:
To identify the pullback: When the line moves away from the zero level, an alert signal is triggered. When it returns to the zero level, we get a probabilistic confirmation of the pullback.
In the example above, we had a buy pullback.
Below, we see the same signal inverted (with a red histogram) to generate a sell pullback:
The Nelogica Pullback Finder allows traders to trade in harmony with the market, generating buy opportunities in an uptrend and sell signals in a downtrend.
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