Indicator for two legged pullback

[tboxer854]

Does anyone know any indicators that will help you identify two legged pullbacks? I have a hard time recognizing them and I saw someone posted a version for Ninjatrade but curious if anything exists for TOS?

Thanks.

 

[TradeUp]

I found the zigzag indicator helps see the two legged pullbacks. You need to change the "at rreversal" to 1.0 and the "at rlength" to 1 in the input section to tighten the zigzag so you can the price movements and pullbacks.

https://usethinkscript.com/threads/zigzag-high-low-stats-for-thinkorswim.1073/#post-19479

 

[tboxer854]

I found the zigzag indicator helps see the two legged pullbacks. You need to change the "at rreversal" to 1.0 and the "at rlength" to 1 in the input section to tighten the zigzag so you can the price movements and pullbacks.

https://usethinkscript.com/threads/zigzag-high-low-stats-for-thinkorswim.1073/#post-19479

Thanks!!

 

[TradeUp]

You can also try a 1 period exponential moving average. I found that also helps.