We are excited to present to you one of our BEST indicators so far: Sumo Pullback$. It is developed with our proprietary algorithm, dedicated to ninZaRenko and KingRenko$ charts. This amazing indicator generates very reliable and accurate signals in a trending market, giving you very high chances to make profitable trades.
Let’s look at the clouds of Sumo Pullback$: they move flexibly in the direction of market trends and adapt perfectly to price movements. These wonderful clouds bring you a comfortable view of market conditions. So easy on the eyes! Therefore, Sumo Pullback$ provides you with more “feel good” comfort and less stress in trading.
The indicator’s signals are created based on the best guide in the world of trading: “The trend is your friend, so FOLLOW the trend”. Please be aware that the pullback signals provided by this grand indicator are NOT normal pullbacks. They are the STRONGEST pullbacks that have the biggest potential for an explosive move. The potential energy of these pullbacks resembles the huge strength of a Sumo warrior, hence the name.
When there are both green & red clouds at the same time, the market condition is chop or uncertain. When it switches to green clouds only or red clouds only, a trend is likely to start. The thicker and steeper the cloud, the clearer and stronger the trend. When the cloud is narrow and lies horizontally, especially when there is a mixture of both green & red clouds simultaneously, the phase of the market isn’t clear. In such circumstances, it is a good idea to sit on hands (no trade).
With unique-of-its-kind visual effects and invaluable pullback signals, Sumo Pullback$ is definitely a must-have indicator for all Renko traders.
Dedicated NinjaScript signals:
- Signal_Trade: 1 = bullish pullback, -1 = bearish pullback, 0 = no signal
- 18 Apr 2023 – A minor bug was fixed.
- 06 Feb 2023 – The indicator was released (built new).