Rob Hoffman's Inventory Retracement Bar - by UCSgears
Claims by Rob Hoffman
Developed and used to win trading competitions around the world, the Hoffman Inventory Retracement Trade is quickly becoming one of the most popular ways to identify where short-term counter trend institutional inventory has subsided and when it’s time to re-enter into a trade’s original trend direction.
I have not included the TREND condition.
- Enjoy
Rob Hoffman Inventory Retracement Bar - tradersonline-mag.co...sic-html/page54.html
Developed and used to win trading competitions around the world, the Hoffman Inventory Retracement Trade is quickly becoming one of the most popular ways to identify where short-term counter trend institutional inventory has subsided and when it’s time to re-enter into a trade’s original trend direction.
I have not included the TREND condition.
- Enjoy
Rob Hoffman Inventory Retracement Bar - tradersonline-mag.co...sic-html/page54.html
Uday C Santhakumar
study(title="UCS_Rob Hoffman_Inventory Retracement Bar", shorttitle="UCS_RH_IRB", precision=2, overlay=true) z = input(45, title="Inventory Retracement Percentage %", maxval=100) // Candle Range a = abs(high - low) // Candle Body b = abs(close - open) // Percent to Decimal c = z/100 // Range Verification rv = b < c*a // Price Level for Retracement x = low + (c * a) y = high - (c * a) sl = rv == 1 and high > y and close < y and open < y ss = rv == 1 and low < x and close > x and open > x // Line Definition li = sl ? y : ss ? x : (x+y)/2 // Plot Statement plotshape(sl, style=shape.triangledown, location=location.abovebar, color=red, title = "Long Bar", transp = 0) plotshape(ss, style=shape.triangleup, location=location.belowbar, color=green, title = "Short Bar", transp = 0) plot(li, style = line, color = blue, title = "Inventory Bar Retracement Price Line")