Pullback & Rally Checklist [Strategy] by crypto5555111
By crypto5555111
Performance Metrics
- Author: crypto5555111
- Symbol: BINANCEUS:BTCUSD
- Timeframe: 1 day
- Win Rate: 36.5%
- Profit Factor: 0.516
Description
Pullback & Rally Checklist [Confluence]OverviewThis tool turns two discretionary trading checklists — one for pullback (dip) buying in uptrends and one for rally (retracement) selling in downtrends — into an objective, rule-based indicator and strategy. Instead of subjectively judging whether a setup is valid, it scores each setup against a list of structural, trend, momentum, and volume conditions, and only flags a signal when enough conditions align (confluence).It is designed as an analytical and educational aid to help traders evaluate trend-continuation setups consistently. It is not an automated profit system.How it worksThe script evaluates two independent checklists on every confirmed bar.The Pullback-Long checklist (6 conditions) looks for: higher highs and higher lows, the prior swing low holding, price reacting at EMA20/EMA50 or the Ichimoku cloud, fading selling pressure (lower volume, lower wicks, or a reversal candle), a valid risk/reward, and a confirmed bounce rather than a falling-knife entry.The Rally-Short checklist (7 conditions) looks for: failure to make a new high, lower lows (continued bearish structure), EMA/cloud acting as resistance, weak volume on the bounce, selling into the retracement, a valid risk/reward, and intact bearish structure even when price rises.A signal is generated only when the number of satisfied conditions meets your chosen threshold. An on-chart table shows each condition's status in real time, so you can see exactly why a signal did or did not fire.Stop loss and take profitFor each signal, the script plots an entry, stop loss, and take profit with price labels and the resulting RR ratio. You can choose between Structure-based levels (stops placed beyond the most recent swing) or ATR-based levels (volatility-scaled distances).Key featuresThe indicator offers a dual confluence checklist for both long and short setups, a live condition table, configurable stop/target placement, an optional higher-trend filter so signals align with the dominant trend, alerts for both directions, and a strategy mode for backtesting in the Strategy Tester.Inputs you can adjustYou can tune the swing length, EMA and volume settings, Ichimoku parameters, the minimum number of conditions required for a signal, the RR minimum, and the stop/target method. Display elements (EMAs, cloud, table, levels, zones) can each be toggled to keep the chart clean.How to use itAdd it to any symbol and timeframe. Wait for a signal and use the condition table to understand the context. Treat the plotted SL/TP as a starting point and refine it against real support/resistance. Combine it with your own analysis rather than trading signals blindly.Important disclaimerThis script is provided for educational and informational purposes only. It is not financial advice and does not guarantee any results. The checklist conditions are mechanical interpretations of discretionary trading concepts and will not match every trader's judgment. Backtest results are based on historical data and do not predict future performance; optimizing parameters to fit past data can produce misleading results. Always do your own research and apply proper risk management. Trading involves substantial risk of loss.