What exactly is this indicator?
Pullback Factor Dashboard is an all-new indicator for MT4 that scans multiple currency pairs and multiple time-frames for high-probability pullbacks. There's a great chance that these pullbacks are ending and the underlying trend will resume its original direction shortly.
Now, let's see this amazing market scanner in action:
Each yellow dot represents a pullback-based setup identified by Pullback Factor Dashboard.
Hold on, let me recap with you what Pullback is
A pullback is a pause or moderate drop in a pricing chart from recent peaks that occur within a continuing uptrend. The term pullback is usually applied to pricing drops that are relatively short in duration - for example, a few consecutive sessions - before the uptrend resumes.
Alternatively, the definition of pullback is also applied to a moderate rise from a recent downtrend before the downtrend continues.
However, there are drawbacks in trading Pullbacks
The biggest limitation of trading pullbacks is that a pullback could be the start of a true reversal. And that brings a dangerous risk to you. When witnessing the situation, you would not know whether it would be a pullback or a reversal.
In this case, it is so confusing to analyze the trend. Then, you have to add other indicators and fundamental data scans in order to increase your confidence in identifying pullbacks from true reversals. But that is so complicated and risky as hell.
Our Pullback Factor Indicator Solves This Problem For You...
Pullback Factor indicator uses our volatility-based algorithm to identify whether or not the current pullback is about to end. When the pullback ends, that means... price is ready to CONTINUE its original trend.
In fact, statistical testing shows that: When the Pullback Factor indicator gives a signal that a certain pullback is complete, there's a high probability the original trend will resume immediately afterward.
So you can be certain and confident placing a trade in the direction of the trend.
And we upgrade the Pullback Factor indicator to a scanner, called Pullback Factor Dashboard. You can use it to scan all pairs and all time-frames.
1. A beautiful dashboard on your chart where you can see exactly what trade setup has recently formed on EVERY pair, EVERY time-frame.
With just one look at the scanner, you'll instantly know all the information you need to make a good trading decision. You'll instantly know which trade setup appears on every time-frame (from 1-minute to monthly) and on every currency pair.
Remember, you can specify as many pairs as you like. You can also use it for indices, stocks, futures, and gold (any symbol your broker offers in Metatrader). Our Pullback Factor Dashboard takes care of it all.
2. Click on the symbol you want, and the indicator will open up that symbol's chart for deeper analysis