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Programmatically Recognize Pullbacks

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    Programmatically Recognize Pullbacks

    How would you program an indicator to recognize a pullback?

    Here are some scenarios:
    1a) Recognize a pullback from the high of the day.
    1b) Recognize a pullback from the low of the day.

    2a) Recognize a pullback where the price action went above the Opening Range's High then went below the Opening Range's High.
    2b) Recognize a pullback where the price action went below the Opening Range's Low then went above the Opening Range's Low.

    Any ideas?

    #2
    Here is one idea...

    1a) Check for a recent HOD using the MAX() method and check if the high was recent, lets say the last 10 bars. Then check the currrent price against that high to see if its lower by some % of the session range and if yes, you have your pullback...
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