This indicator plots a Price Action Channel (PAC) based on high, low, and close moving averages alongside fast, medium, and slow trend EMAs directly on the price chart.
1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Scalping PullBack Tool R1.1 detects regular and Bill Williams fractals to track market structure and identifies pullback setups within the channel aligned with the overarching trend. Users can toggle Heikin Ashi calculation modes, customize EMA lengths, show fractal markers, and delay arrow signals until bar close to reduce real-time bar fluctuation.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
High Low PAC channel Length
int
34
HiLoLen
fastEMAlength
int
89
fastEMAlength
mediumEMAlength
int
200
mediumEMAlength
slowEMAlength
int
600
slowEMAlength
ShowFastEMA
bool
true
ShowFastEMA
ShowMediumEMA
bool
true
ShowMediumEMA
ShowSlowEMA
bool
false
ShowSlowEMA
ShowHHLL
bool
false
ShowHHLL
ShowFractals
bool
true
ShowFractals
Show Ideal Fractals Only
bool
false
filterBW
Show coloured Bars around PAC
bool
true
ShowBarColor
Show Buy/Sell Alert Arrows
bool
true
ShowBuySell
Show all 16 settings
Setting
Type
Default
Variable
Pullback Lookback for PAC Cross Check
int
3
Lookback
Show Alert Arrows Only on Closed Candles
bool
false
DelayArrow
ShowTrendBGcolor
bool
true
ShowTrendBGcolor
Use Heikin Ashi Candles in Algo Calculations
bool
true
UseHAcandles
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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