ThinkorSwim - Let's Trade The Pull Back Strategy.

The ThinkorSwim code is a script for a financial trading indicator called the "Pull Back Indicator." It identifies potential buying and selling opportunities based on price pullbacks. The indicator calculates moving averages and exponential moving averages (EMAs) and uses candlestick patterns to generate signals. It plots arrows on the chart to visually indicate the signals: green arrows for potential buying opportunities and red arrows for potential selling opportunities. The code sets parameters such as length, multiplier, and EMA lengths, and uses conditions to determine the occurrence of pullbacks and the first green or red candles after pullbacks. The indicator is plotted using the plot function with customized appearance settings.
The second section introduces a "Volume Spike" indicator. It calculates the relative volume and the percentage change in volume compared to the average volume. It determines if the current bar has a volume spike based on a user-defined threshold. It plots a downward arrow when the price crosses below a certain EMA, indicating a possible selling opportunity. It also adds labels to the watchlist, indicating the percentage change in volume and whether it's a bullish or bearish spike.

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