Another original idea is here with you. Actualy I can say that it's a breakout strategy that uses multiple Pivot Point's averages.
How it works? - it finds the Pivot Points, you can set the length as you want - it gets averages of Pivot Highs and Pivot Lows, you can set the number of Pivot Points to be included - it compares the current closing price with averages of Pivot Highs and Pivot Lows - if both are positive or negative then trend changes
You have two options: - Pivot Point Period => is the length that is used to find Pivot Points. means it checks left/right bars if it's Pivot Point (4 by default) - Number of PP to check => is the number of Pivot Points that the script finds and calculates the averages (3 by default)
An Example with the settings Pivot Point Period = 5 and Number of PP to check = 2
Play with settings as you wish. Comments are welcome, together we can improve it ;)
Enjoy!
Notas de Lançamento
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Added Alerts.
Notas de Lançamento
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Algorithm improved Simple moving average added for the mid point
Hello, should the alert (trend changed) fire as soon as the trend changes? Because I used it on GBPCHF and the trend changed around 1:30AM but I didn't get an alert until 2:30AM saying that the trend has changed and by then it was too late. Can you advise if this is a bug or?
LonesomeTheBlue
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@Jumbolemming, interesting, there is no lag in the script. maybe buy in TV, not sure
Jumbolemming
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@LonesomeTheBlue, I have and it's still producing alerts later than it should. Can you please look into it? Am I right in thinking I need to use the alert mode 'Pivot Trend UP' & 'Pivot Trend DOWN' to signal buy/sell positions? Thanks