Smart Scanners › Ours, measured
Pullback depth
A correction has reached a depth at which we know the historical resumption odds. It fires at the moment price first trades through that depth.
What it looks like on a chart
A mark under the bar. No level — the depth is a property of the move, not a price to draw.
Where the definitions disagree
It took a caught mistake to learn why this is the only legal form of the question. Corrections that resumed ran a median 19 bars and those that reversed ran 40 — a two-to-one gap that is completely worthless, because total duration is known only once the correction is over, and it is over because it resumed or reversed. Sorting on duration sorts on the outcome. Firing at first contact with a depth is the one form that is knowable while it still matters.
| Timeframe | Bars of history it reads | Settings | Events, last 30 days |
|---|---|---|---|
| H1 | 1500 | theta = 8.0x median relative true range on this instrument's train half (0.0196); a correction counts past 0.25 theta | 243 |
Not on M15, M30, H4, D1. It quotes a depth curve measured on H1, and the same applies.
Related scanners
- Reach threshold distance travelled from the session open, where this measures depth given back
- Structure break the swing break that ends the leg a pullback is measured inside