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Is there a standard(ish) way of classifying a pullback?

For example, in a clearnomics report they have: clearnomics report

showing 12 pullbacks of 5% (or, presumably, greater), and the same for 2000.

LPL Research have slightly different numbers: lpl-research showing around 7 for each of those years.

But when I look at the charts myself, I get rather different numbers:

5 for 2020: 2020

1 for 2000: 2000

I'm defining here a pullback size as the maximum pullback from a high to the lowest low before it recovers its original price. These charts suggest that other people count multiple steps lower as multiple pullbacks, even if the high after each low never recovers even the proceeding high.

Is there a standardish industry definition that I should use instead of mine?

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    $\begingroup$ In brief, no, there's no industry standard. Assuming they aren't using a different definition than what you describe, what you're describing is more commonly referred to as a drawdown. $\endgroup$
    – Chris
    Oct 28 at 3:59

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