(EFS) Symmetrical Pullback (Requires AGET)

5. May 2010
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eSignal Study:  When trading with the trend, often it is useful to look at previous pullbacks in determining the size of the next pullback.  This is called "symmetry".  This script does some of the measuring dirty work for you.

To use this tool, use the "BIAS" button to switch between long or short bias, then select the pivot type to use ("PIV").  In other words, if the pivot is set to "P", it will look at the last primary pivot and see how large that pullback was.  It is recommended that you turn on all AGET pivots to help determine which pivot to use.  Based on the size of that previous pullback, little dashes will be displayed to show where a 1:1 pullback would be, or a 1:0.618 pullback, etc.  Playing with eSignal's "Fib Ext" tool you can quickly see what this script is displaying, except you won't have to draw it yourself each time.

Important: eSignal's Advanced GET is required for this study and it will not work without it!  

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).


 

 


  
 

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