Significant PP - Swing Failure / Stop Run Alerts [QN]
Tried to create a script for Swing Failure / Stop Run patterns. It is based on my QuantNomad - "Significant Pivot Reversal" Indicator. It's quite tricky to code these kinds of patterns, so it's really not ideal. I alert when a candle cross pivot level but close below (above for bottom) it and previous close was below (above) it as well. You can setup params for pivot points and also by how much it should cross pivot level with "SF ATR Mult".
I have in mind a few other things I'd like to test:
* Different types of pivot points * Few recent pivot levels at once * Pivots from higher timeframe * Different types of "touching" levels * etc.
Ideally, I want to create a strategy from it, but I'm far from it for now.
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publications is governed by House rules. Você pode favoritá-lo para usá-lo em um gráfico.
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