pranjalchaubey

[CP]Structural Pivots v2.0

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This script marks structural pivots on a chart.
Script marks namely 4 types of pivots ,

SPL (Blue circles at bar low) is marked by finding a combination of 3 bars, an Anchor Bar, Bar 1 and Bar 2.
Bar 1 and Bar 2 should have a higher high and a higher close relative to the Anchor Bar in order to qualify as a legitimate SPL .
Reverse conditions are required for a point to be marked as SPH (Blue circles at bar high).

The complication happens for the fact that Anchor Bar, Bar 1 and Bar 2 need not be consecutive.
They can be far apart from themselves.
To solve this problem, the script generates 3-bar Combinations of all the bars from the last pivot to the current bar.

LPH are marked when an SPL gets broken (price goes below the previously marked SPL ).
LPL are marked when an SPH gets broken (price goes above the previously marked SPH ).

Unlike 'regular' methods of quantifying breakouts and trailing stops by optimizing various parameters of indicators, this method essentially
finds out swing highs, swing lows and S/R breaks.

One way to use the pivots is to go long when the LPH is broken, and trail the price with SPLs.
Vice-versa for shorts.

PM me on TradingView to obtain access.
Please don't ask for access in the comments section.
Release Notes: The new release contains two visualization improvements.

1. Pivot markings in the previous version were quite large and taking up a lot of chart space.
This has been solved in this version.
You get three options, Auto, Large and Small.
The default option, 'Auto', gives the best results as it automatically increases or decreases the size of pivot markings depending upon your zoom level.

2. The shape of the small pivots can now be changed. Circle and Triangle are the two options.
Release Notes: Removed some unnecessary debug information that was showing up in the Data Window.
This should speed up the code compilation times.

Indicator is now ready for the prime time!
Release Notes: Minor change in the values shown in the Data Window.
No change in the indicator or the user interface.
Invite-only script

Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact pranjalchaubey for more information, or follow the author's instructions below.

TradingView does not suggest paying for a script and using it until you 100% trust its author and understand how the script works. In many cases you can find a good open-source alternative for free in our Public Library.

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Comments

Thank you very much Sir. Wonderful for me, who is just learning to adopt trading decisions based on this.
Wish you many many days of succes
500 coins
+1 Reply
pranjalchaubey Nirmala80076
@Nirmala80076, Such a pleasant surprise.....thank you very much for your kind words and I am glad that you liked the indicator!
Reply
Nicely explained and easy to understand, thanks sir..
+1 Reply
Appreciate your efforts and sharing with us, by any chance do you have afl for this? Thank you.
+1 Reply
Reply
Thank u so much my dear sir excellent indicator
+1 Reply
pranjalchaubey shubhangi9554
@shubhangi9554, thank you for your kind words.
Reply
Thank you, Sir, I just begin learning and understanding the moves and take a valuable trade decision based on structural pivot. Wish you a great success ahead. Thank you once again.
+1 Reply
@MaXz_M, You're welcome!
Reply
great job
+1 Reply
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