Break retest continuation down event
Flags a renewed drop after price breaks and retests a 100-bar low; silent at default settings.
It tracks the lowest close of the last 100 bars, the Donchian low, and runs a three-step sequence around it. First a close drops to within band of that low; then price climbs back to within retest_band of it; then a close back at the low, while still in that retest, marks the event. The low already includes the current close, so with the default band of 0 the first step can never happen and the indicator never fires.
How to read it
- With default settings the chart shows no markers at all; set band below zero to see any.
- Each marker sits on the first candle of a run where the final condition holds, so a run of bars gets one marker.
- The setup to look for: a fresh 100-bar low, a bounce to within retest_band (0.3% by default) above it, then a close back at the low.
- A marker flags the setup, not a trade; it says nothing about where price goes next.
What it outputs
- Continuation down
- Marks the first bar where price, after breaking and retesting the 100-bar low, falls back to that low again.
When it fires
Fires on the first bar of a run where price, after breaking the 100-bar low and climbing back to within retest_band of it, closes back at the low within band. It marks a second push down to a level that already broke once.
Settings
- band
- Sets how far above the 100-bar low a close still counts as a break. Zero or positive values make the break impossible, so the indicator never fires. More negative values widen the zone; at -1 a close up to double the low still counts.
- retest_band
- How far above the low a close can sit and still count as a retest. Wider values let more bounces qualify, so more setups reach the final step. Negative values empty the retest zone, so the indicator never fires.
- confirm_days
- How many consecutive bars the final condition must hold before the event fires. 1 fires on the first qualifying bar; higher values need the price to stay near the low that long, which cuts the number of marks.
Pitfalls
- Looks broken at defaults: the break compares the close with a 100-bar low that already includes that close, so band 0 can never fire. On SPY one-minute bars for September 2026 it produced zero events.
- A negative retest_band empties the retest zone, so the indicator never fires; keep retest_band at 0 or above.
- The 100-bar window is fixed inside the input and is not a parameter here, so only band, retest_band and confirm_days shape the signal.