| Name: |
MAPullback |
| Description: |
Identifies those bars that meet the moving average pullback criteria, invented by Steve Palmquist and described in TASC magazine (April, 2005).
|
| Syntax: |
var
RisingCloses := false;
NotBelowPullbackMA := false;
CloseToPullbackMA := false;
end_var
{ is in an uptrend }
RisingCloses := Lowest(Close, 5) > Close\20\;
{ verify stock has not been below the 30ma in last 30 trading sessions }
NotBelowPullbackMA := CountIf( Close < SMA(Close, 30), 30) < 1;
{ look if the stock pulled back to within 1.5% of the 30ma }
CloseToPullbackMA := Close - SMA(Close, 30) < 0.015 * Close;
{ MA pullback setup if uptrend and hasn't been below the 30ma but it has pulled back to within 1.5% of the 30ma }
return RisingCloses and NotBelowPullbackMA and CloseToPullbackMA; |
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