LonesomeTheBlue

Pivot Trend

Hello Traders,

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!


Release Notes: Added Alerts.
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 a publication is governed by House Rules. You can favorite it to use it on a chart.

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Comments

hi,
u did good and hard work for all of us, big thank you :)
+9 Reply
Love all of your scripts! Any way that you can add alerts to this?

many thanks
+6 Reply
@Wilbur20, sure when I have time I will ;)
+1 Reply
Wilbur20 LonesomeTheBlue
@LonesomeTheBlue, Thank You!!
+2 Reply
Bearishness Wilbur20
yes please!!! I am happy to pay for this
Reply
LonesomeTheBlue Bearishness
@Bearishness, donations are welcome :) you can see my eth and btc address ;)
+2 Reply
Great script, will test it out. Thanks @LonesomeTheBlue for your hard work...
+5 Reply
please does it repaints?
+3 Reply
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?
+3 Reply
LonesomeTheBlue Jumbolemming
@Jumbolemming, interesting, there is no lag in the script. maybe buy in TV, not sure
+1 Reply