Bowstring — the moving-average pullback, drawn and released.

The stack that sets direction

Two averages do the work. The 50 EMA is the near-term path price travels along; the 200 EMA is the long-term tide. While the 50 sits above the 200, the market is in an uptrend and Bowstring will only look for longs.

Both lines are drawn on your chart, so the regime is never a hidden state — you can see at a glance which side the playbook is allowed to trade.

Buying the reload

Inside an uptrend price does not travel in a straight line — it stretches away from the 50 EMA and springs back to it, like a bow being drawn. Bowstring waits for that return: when price comes back within touching distance of the 50, the trend is reloading and the entry fires.

The touch tolerance is deliberately tight. A near-miss is not a touch, and demanding a genuine return to the line is what separates a pullback from a drift.

The settings that matter

Pullback Tolerance is the quality dial — how close to the 50 EMA price must come before it counts as a touch, measured in ATR so it adapts to volatility. Tighter demands a cleaner pullback and takes fewer, better trades.

Cooldown Bars is the evidence dial: a long touch can hover around the line for several bars, and the cooldown stops one visit firing repeatedly. The two pull in opposite directions, which is exactly what makes them useful together.