Leg Counter Free Indicator

 

 

The Simple Leg Counter is used to count the pullbacks in a trend. A new trend will start at zero then begin counting every pull back until there is a reset. For example, an uptrend will begin at zero and the indicator will label each found pullback until a lower high is printed. Equal highs or equal lows will not reset the counter. Note that the indicator will recognized 1, 2 and 3 sequential equal high/low bars. It does not currently recognize more than 3 sequential equal bars. Basic font features can be changed such as the color, family, size etc. The margin from the tops/bottoms of the candles can also be adjusted.

Leg Counter

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This indicator is useful to traders who like to trade pure price action such as the two-legged pullback technique.

Created by daskatzen 

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