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3 Bar Pullback vs 123 Reversal


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3 Bar Pullback vs 123 Reversal

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  #1 (permalink)
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I am looking for an indicator that can plot 3 Bar pullback if there is one and don't see any that's in download or thread if I missed

I found this paid one which says 123 reversal and am sure that is diff from 3 Bar pullback.
https://www.indicatorwarehouse.com/images/bigcharts/Ross-Hook.jpg

Title should have been 3 Bar pullback and not 123 Pullback

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Hi emini_Holy_Grail

Someone else has asked for there, here is the link



Sorry, jsut saw you posted there too.

Sorry

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Emini,

I have not heard the term "3 bar pullback" before can you explain what to look for?

Thanks,
gulabv

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We start our count at the first reversal bar (a reversal bar is simply a bar that closes in the opposite direction of the previous bar)—in an up-moving market, this would be the next bar that closes down.

The reversal bar becomes “Bar 1.” We then count each additional bar in the pullback until the prices close back in the original trending direction, Bar2 abd Bar3 are explained by itself in the chart attached in post#1

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So you are not looking to break the swing high/low in this pattern?

Does it have to be 3 consecutive bars for this pattern to be valid?

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gulabv View Post
So you are not looking to break the swing high/low in this pattern?

Does it have to be 3 consecutive bars for this pattern to be valid?

There are systems that trade the 3+ bar pullbacks by not waiting for the pullback to turn around and break the swing high/low, but rather enter on a break of a previous pullback bar high/low. You can get great early entries with that type of entry method, and most of the time will make your first target before the swing high/low is even hit.

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so do they have to be 3 green bars and then a red for a continue play on a short trend or can they be green and red -

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bizman70 View Post
so do they have to be 3 green bars and then a red for a continue play on a short trend or can they be green and red -

Depends on the method. I think pristine.com use this kind of pullback entry.

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