Is there a standard(ish) way of classifying a pullback?
showing 12 pullbacks of 5% (or, presumably, greater), and the same for 2000.
But when I look at the charts myself, I get rather different numbers:
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?