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Pivot-based Swing Highs and LowsRelease Notes for Pivot-based Swing Highs and Lows Indicator with HH, HL, LH, LL and Labels Version 1.0.0 Release Date: 29th Sept 2024 Overview: This Pine Script version 5 indicator is designed to identify and display Swing Highs and Swing Lows based on pivot points. The indicator visually marks Higher Highs (HH), Lower Highs (LH), Higher Lows (HL), and Lower Lows (LL) on the chart. The release introduces an improved visual representation with dotted lines and colored labels for easy identification of market structure, using plotshape() and line.new(). Key Features: 1. Pivot-Based Swing Identification: The indicator uses ta.pivothigh() and ta.pivotlow() to detect significant pivot points on the chart. The length of the pivot can be adjusted through the pivot_length parameter, allowing users to customize the sensitivity of swing identification. 2. Swing Highs and Lows with Labels: Higher High (HH) and Lower High (LH) points are marked with green downward triangles. Higher Low (HL) and Lower Low (LL) points are marked with red upward triangles. The plotshape() function is used to provide clear visual markers, making it easy to spot the changes in market structure. 3. Dotted Line Visuals: Green Dotted Lines: Connect Higher Highs (HH) and Higher Lows (HL) to their corresponding previous swings. Red Dotted Lines: Connect Lower Highs (LH) and Lower Lows (LL) to their corresponding previous swings. The use of color-coded dotted lines ensures better visual understanding of the trend continuation or reversal patterns. 4. Customizable Input: The user can adjust the pivot_length parameter to fine-tune the detection of pivot highs and lows according to different timeframes or trading strategies. Usage: Higher High (HH): Green downward triangle, indicating a new high compared to the previous pivot high. Lower High (LH): Green downward triangle, indicating a lower high compared to the previous pivot high. Higher Low (HL): Red upward triangle, indicating a higher low compared to the previous pivot low. Lower Low (LL): Red upward triangle, indicating a new lower low compared to the previous pivot low. Dotted Lines: Connect previous swing points, helping users visualize the trend and potential market structure changes. Improvements: Label Substitution: In place of label.new() (which might cause issues in some environments), the indicator now uses plotshape() to provide a reliable and visually effective solution for marking swings. Streamlined Performance: The logic for determining higher highs, lower highs, higher lows, and lower lows has been optimized for smooth performance across multiple timeframes. Known Limitations: No Direct Text Labels: Due to the constraints of plotshape(), text labels like "HH", "LH", "HL", and "LL" are not directly displayed. Instead, color-coded shapes are used for easy identification. How to Use: Apply the script to your chart via the TradingView Pine Editor. Customize the pivot_length to suit your trading style or the timeframe you are analyzing. Monitor the chart for marked Higher Highs, Lower Highs, Higher Lows, and Lower Lows for potential trend continuation or reversal opportunities. Use the dotted lines to trace the evolution of market structure. Please share your comments, thoughts. Also please follow me for more scripts in future. Mean time Happy Trading :)
Indicador Pine Script®
por hitesh.daiya86
6
Pivot Points + Day First Candle Breakout + VWAP + Supertrend This indicator amalgamates several key indicators to provide a comprehensive analysis for trading decisions, including SuperTrend, Pivot Points, VWAP, along with the Day First Candle Breakout strategy. Key Features: Day First Candle Breakout: Identifies potential breakout opportunities based on the first candle of the trading day. It utilizes the high and low of the initial trading range to determine entry points. Timeframe Selection: Allows users to select the timeframe for analyzing the first candle (e.g., 5, 15, or 60 minutes). Previous Day and Week High/Low: Displays the high and low of the previous day and week to provide additional context for trading decisions and assess the strength of the trend. Trend Strength Analysis: Indicates whether the current price is above or below the previous day's high or low, signaling a stronger bullish or bearish trend respectively. SuperTrend Indicator: Visualizes the trend direction and potential reversal points based on the SuperTrend indicator. It helps traders to stay aligned with the prevailing trend and avoid premature exits. Pivot Points: Presents key support and resistance levels derived from Pivot Points, assisting traders in identifying potential reversal or breakout zones. VWAP (Volume Weighted Average Price): Plots VWAP to provide insight into the average price traded over a given period, aiding in determining the fair value of the asset and potential buying/selling zones. Trading Signals: Buy Signal: Triggered when the price exceeds the high of the initial trading range after an upward price gap. Sell Signal: Generated when the price falls below the low of the initial trading range after a downward price gap. Caveats for Effective Trading: Extended Trading Ranges: Adjusts support and resistance levels if the initial trading range extends beyond the defined timeframe. Morning Noise Consideration: Exercises caution during volatile morning sessions to avoid false breakouts and whipsaws. Pullbacks and Narrow Range Bars: Looks for opportunities during pullbacks or when the price forms narrow range bars to enter trades, reducing the risk of sudden reversals.
Indicador Pine Script®
por rupatil
21
PIVOT differenceall credit to pine coders of TV- www.tradingview.com this is just example of the new function and how we can make smart pivot system for low TF on the right side (the normal pivot that we use S1 and R1 level shown) the lines represent the trend of the pivot and there levels here i use 30 min pivot MTF on 5 min chart in this example we can see that we have much more correct way to estimate break up or down the get price function allow you to make alerts of crossing of the trend line ( I am lazy now so maybe later I add it:) ) you can use same TF as the chart or higher and then examine where you think you nned to buy and sell I normaly add linear regression or other method of choice for conformation of buy or sell oppertunity this is just raw idea but this function can be exploited with any trend line or system that one can think about this is just example to think on :)
Indicador Pine Script®
por RafaelZioni
4
Pivot Levels [UkutaLabs]█ OVERVIEW The Pivot Levels Indicator provides real-time insight into key price levels within the market that can serve as powerful support and resistance levels. These levels are based on currently-relevant price-action information to ensure that the lines being drawn provide the most value to traders regardless of their trading style. The aim of this script is to simplify the trading experience of users by automatically identifying and displaying price levels that they should be aware of. █ USAGE At the beginning of each trading day, the script will identify the previous day’s hlc3 level. We refer to this level as the day’s Source Level, and it is from this price that the other Resistance and Support levels are calculated. The script then identifies the total price range of the previous day (Previous Day High - Previous Day Low), then draws Resistance and Support lines based on the Source Level and the previous day’s range. The script identifies these levels on both sides of the Source. Levels above the Source are considered to be points of Resistance and below the Source are considered to be Support, but the levels are free to be interpreted and used in whatever way fits the user’s trading strategy. A label is drawn at the end of each line that identifies the line and whether it represents support or resistance. These labels can be disabled in the settings. █ SETTINGS Configuration • Show Labels: Determines whether or not labels are displayed at the end of each line. • Display Mode: Determines the number of days for the script to load. Line Settings • Resistance Color: Determines the color of the resistance lines and labels above the Source Level. • Source Color: Determines the color of the source line and label. • Support Color: Determines the color of the support lines and labels below the Source Level. • Line width: Determines the width of lines. • Line Style: Determines the style of lines.
Indicador Pine Script®
por UkutaLabs
6
Pivot-Point Weighted Moving AverageThe Pivot-Point Weighted MA is very different from other weighted MAs, in the sense that the price weights can achieve negative values. For an example, if a length of 21 is used, the pivot point will be calculated as 13, meaning that the 13th prior candle will have 0 weight, and all prices before it will have a negative weight on the sum, so their impact is reversed rather than just unweighted. The intent of this is to reduce lag by front-loading the prices. It works better in cyclic markets, and with a longer length, where the inflection point (the one with 0 weight) is aligned with the cyclic turn. You can configure where the weight starts. If you leave it as 0, it will start with floor(length * 0.66) - 1.
Indicador Pine Script®
por EduardoMattje
1
Pivot Boss -- Squat bars and Non Squat Bars 2.0Squat Bar Signal -- current Volume is greater than previous volume but Current bar MFI(Market Facilitation index) is lesser than previous bar MFI Other Conditions -- Current Bars Range is lesser than (Average Range * Range Multiplier) Non Squat Bar Buy Signal(Green Up Triangle) -- Volume and MFI is greater than previous bar, Close greater than open, Close is greater than midpoint Non Squat Bar Sell Signal(Red Down Triangle) -- Volume and MFI is greater than previous bar, Close lesser than open, Close is lesser than midpoint Usually Squat signal is confirmed by Non Squat Bar Signal.. Other indicator used -- PEMA -- Pivot based EMA For Better results use it along with Advanced Volume indicator and PEMA
Indicador Pine Script®
por Nanda86
6
pivot semaphore support&resistance levels [LM]Hello Traders, I would like to introduce you pivot semaphore support&resistance levels. The idea is the same as the zigzag script of mine to spot the importance of support&resistence The Semafor is used to spot future multi-level Supports and Resistance zones. It is also useful to spot HL or LL or HH or LH zones at different Depth settings. The red zones are the extreme places where the market has a higher chance of reversing while the green zones have the lowest setting with lower chances of the market reversal The lines can be extended like so The lines also can just stop extending when price will reach it Enjoy!
Indicador Pine Script®
por lmatl
14