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How to Trade Daily Pullbacks with The Pullback % Indicator for ThinkOrSwim

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This video shows you how to sort stocks in your ThinkOrSwim watchlist by the % it has pulled back from the day’s extreme. So if it is a red day, the pullback % would be from the low of the day: a 2% reading would mean that the stock has pulled back off the low of the day toward the high by 2% of the day’s range. If it is a green day, a 5% reading would mean that the stock has pulled back 5% from the day’s high.

This ThinkOrSwim indicator column gives you a good way to sort and find stocks that are pulling back and giving a more attractive entry location. You can also use it to spot stocks trading at or near their daily highs or lows, and that might be ready to breakout to the upside for a long trade, or breakdown to the downside for a short.

Find out more and download the indicator here:

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