OPEN-SOURCE SCRIPT
Adoptive Supertrend - Pivots
Another experiment with Supertrend by making use of pivot point high/lows.
Trailing Stop types used in this indicator are:
Trailing Stop types used in this indicator are:
- ATR - plain ATR based supertrend
- Breakout - ATR based supertrend combined with breakout. (Trailing triggered only if price change is higher than HighPriceChange multiplier times ATR.
- Pivot Points - Trail only when new pivots created. Pivot stop multiplier is used below pivot low.
- Combined - Combine everything together
Open-source script
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 publication is governed by House rules. You can favorite it to use it on a chart.
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