The count back line is used to create a short-term hurdle, which must be overcome before we can have any confidence about a likelihood of a trend change. It consists of four applications. The first is as a trend change verification tool. The second is as an entry tool with a defined range of safe price levels. The third is a stop loss tool. The fourth is related to the stop loss function when it is used as an exit tool.
This is a companion discussion topic for the original entry at https://www.optuma.com/kb/optuma/tools/guppy/countback-line---stop-loss