Candle Retrace Strategy

Script from: TradingViewIntradayPrice actionPullbackTrend followingVolumeCandlestick

The Candle Retrace Strategy hinges on detecting significant Big Candles accompanied by high volume to signal strong price movements. It anticipates retracements to a specific level before initiating a trade, aligning the Stop Loss at the Big Candle's apex and setting the Take Profit at the initial trend's onset. Enhanced by TradingView's "Pivot Points Standard" indicator, the approach qualifies Big Candles when surpassing a pivot point by at least 50% height. Traders adjust settings for candle size and retracement level to optimize net profits and percentage profitability.

Audit verdict

ArchivedRemoved from TradingView

No longer on TradingView

We can't re-run or audit this script anymore. The backtests below were run while it was public and are no longer updated.

2,561backtestsarchived

33robust scoreranked median 52

0.38p-valueranked median 0.24

—repaint auditsource unavailable

Audit details

How we decide whether a strategy enters our rankings. Read the methodology →

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Repainting audit

Not performed: the source code is no longer accessible.

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Script availability

Removed from TradingView. You can't add it to a chart anymore.

Statistical edge

Average t-statistic 1.13 (p = 0.38), below the median of 1.98 (p = 0.24) for ranked strategies.

Quality gate

None of the 118 backtests with more than 15 trades passes our quality gate.

Robust score

33/100, below the median of 52 for ranked strategies.

How its evidence compares

The t-statistic measures how far the average result sits from zero relative to its noise. Below about 2, it is within what random entries produce.

1.13

avg. t-statistic

1.98

median, ranked strategies

Best 5 of 2,561 backtests

Shown for transparency. Frozen results, no longer updated.

Symbol	Timeframe	Net profit	Profit factor	Trades	Max drawdown
Warner Bros. Discovery, Inc. - Series A NASDAQ:WBD	4H	+757%	1.21	482	43%
American Airlines Group, Inc. NASDAQ:AAL	4H	+570%	1.09	517	54%
Nordstrom, Inc. NYSE:JWN	4H	+492%	1.21	594	53%
Snap Inc. NYSE:SNAP	2H	+459%	1.34	317	46%
ALX Oncology Holdings Inc. NASDAQ:ALXO	2H	+404%	1.55	177	35%