Our Two Legged Pullback indicator for NinjaTrader is one of the most reliable price actions setups fur futures. When the Two Legged Pullback is found, it is drawn in the form of four arrows directly on the chart. Many traders like to use it as a second entry indicator for their daily trade. As a tool for technical analysis, it works great in conjunction with a EMA(20) which helps identify strong up and down swings. Our Two Legged Pullback Indicator version also supports additional alerts to notify you of important events.
The Two Legged Pullback indicator is a must-have for everyone trading with NinjaTrader. Beginners can use it to learn more about the market patterns, and trading pros use it as a reliable price action setup.
Download the Superior Two Legged Pullback Indicator today to gain better insights for your trading!
Our Superior Two Legged Pullback: Great Features for easy Trading
Devside Trading offers you a premium selection of the most popular and accurate Reversal Indicators for trading with NinjaTrader 8. The Two Legged Pullback Indicator comes with a variety of features to help you analyze the latest market trends. Be sure to check them out:
✅ Plot the Two Legged Pullback pattern
✅ Coloring of the arrows of the pattern
✅ Adds plot to candlestick charts
✅ For futures, forex & equities trading
✅ Fitting experienced & new traders
✅ Fully compatible with NinjaTrader 8
✅ Signals: Signal State = -1 for no pattern was found and Signal State = 1 for pattern was found.
✅ Sound Alerts: Set sound alerts for when the pattern is found
✅ Email Alerts: Receive alerts via Mail for when the pattern is found
✅ PopUp Alerts: Display alerts as popup window for when the pattern is found
✅ Plot smoothing: Select from 1 of top 9 moving averages to smooth the High and Low series the Two Legged Pullback uses for pattern detection
✅ Bar coloring: Enables bar coloring for the legs and entries of the Two Legged Pullback
As part of their trading routines, traders spend a good amount of time on technical analysis of candlestick charts. The Two Legged Pullback Indicator is an entry indicator that helps speed the routine up by visualizing the right time for actions.
Following a significant upward price movement for an asset, pullbacks are sometimes viewed as entries or buying opportunities. For instance, after a strong earnings report, a stock may see a big surge, followed by a decline when traders with open positions take the profit. The Indicator helps reduce the risk of identifying the wrong entry points.
Trading with the Two Legged Pullback Indicator
Let's first learn the fundamentals of counting legs. Every bar that rises over the one before it starts a new leg up. Every bar that drops below the one before it begins a new leg downward. The indicator plots the pattern and indicates it with arrows, so that it is easy to find changes in the market. It automatically plots the “legs” which amplify a two legged pullback and therefore identifies second entries.
The majority of pullbacks include a security's price moving to a technical support level, such as a moving average, before continuing its upward trend. A collapse from these important levels of support might indicate a reversal rather than a pullback, so traders should keep a close eye on them with the entry indicator.
The Volume Delta Profile Indicator, which offers more in-depth research, is one of our favorite Volume Indicators. The TLPB Indicator is a great addition to this tool, when you trade futures or forex.
Additionally, you can combine it with one of our Momentum Indicators, such as the Stochastic Oscillator Superior indicator, to obtain a more accurate prediction of how long a price shift will persist.
Devside Trading: Get the best NinjaTrader Indicators for your strategies
With the Two Legged Pullback Indicator download you are using one of the most reliable trend reversal patterns, but be sure to check out our other Reversal Indicators:
- Head and Shoulders: The pattern of the head and shoulders indicator is sometimes employed to identify market reversals. As a result, you can utilize the pattern on the lower periods to find the conclusion of a reversal and a change in the main trend's direction if you are particularly interested in trading opportunities in that direction.
Inside Bar: With this indicator, you can locate the two-bar price action trading approach known as an "inside bar pattern". It is one in which the inner bar is smaller and falls inside the high to low range of the preceding bar. Its location in relation to the previous bar may be at the top, middle, or bottom.
DEVSIDE TRADING SUPPORT
To get all the advantages of the Two Legged Pullback Superior, such as trend shifts and notifications, add it to your shopping basket. After your purchase, a confirmation email with an activation code will be sent to you, enabling you to safely download the Two Legged Pullback Indicator.
If you need any help using the Two Legged Pullback Superior Indicator, with our App or activating your purchased downloads: Be sure to check out our helpful activating your product guide!
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