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Pivot Points

[CP]Pivot Boss Candlestick Scanner - No Repainting This indicator is based on the high probability candlestick patterns described in the ’Secrets of a Pivot Boss’ book. The indicator does not suffer from repainting. I have kept this indicator open source, so that you can take this indicator and design a complete trading system around it. Although the patterns have some statistical edge in the markets, blindly using them as Buy/Sell Indicators will certainly result in a heavy loss. I like some of these setups more than others, and I have listed them in the order of my likeness. The first one I like the most, the last one, I like the least. The patterns are universal and work well in both intraday, daily and even larger timeframes. Signals in the example charts are manually marked by, Hammer - profitable short signal Rocket - profitable long signal X - unprofitable long or short signal GENERAL USER INPUTS: These settings exist as the indicator uses ‘Labels’ to mark the patterns and Pine Script limits a maximum of 500 labels on a chart. If you want to go back in the past and check how the indicator was doing, set the Start and End dates both and check the ’Use the date range above to mark the Candlestick Setups?’ option. EXTREME REVERSAL SETUP: This is by far my favorite setup in the lot. Classic Mean Reversion setup. The logic, as explained in the book, goes like this, 1. The first bar of the pattern is about two times larger than the average size of the candles in the lookback period. 2. The body of the first bar of the pattern should encompass more than 50 percent of the bar’s total range, but usually not more than 85 percent. 3. The second bar of the pattern opposes the first. The setup works extremely well in high beta stocks like Vedanta VEDL. Feel free to play with the settings in order to better align this pattern with your favorite stock. Check out the examples below, No indicator is perfect, failed patterns are marked with an X. OUTSIDE REVERSAL SETUP: My second favorite setup, it is quite good at catching intraday trends. Here’s the logic, 1. The engulfing bar of a bullish outside reversal setup has a low that is below the prior bar’s low and a close that is above the prior bar’s high. Reverse the conditions for bearish outside reversal. 2. The engulfing bar is usually 5 to 25 percent larger than the size of the average bar in the lookback period. Settings for this pattern simply reflect these conditions. Feel free to modify them as you wish. The pattern is pretty powerful and will sometimes help you catch literally all the highs and lows of the market, as shown in the examples of Vedanta VEDL and RELIANCE stocks below. As usual, this pattern is not PERFECT either. DOJI REVERSAL SETUP: Doji candles signify market indecision and this pattern tries to profit off these market conditions. Logic: 1. The open and close price of the doji should fall within 10 percent of each other, as measured by the total range of the candlestick. 2. For a bullish doji, the high of the doji candlestick should be below the ten-period simple moving average. Vice-versa for bearish. 3. For a bullish doji setup, one of the two bars following the doji must close above the high of the doji. Vice-versa for bearish. Feel free to modify the settings and optimize according to the stock you are trading. Don't optimize too much :) This pattern works brilliantly well on larger intraday timeframes, like 15m/30m/60m. This pattern also has a higher propensity to give false indications than the two described above. Doji reversal typically helps to catch larger trend reversals. Check out the examples below from RELIANCE and NIFTY charts, Note that the RELIANCE chart below is the same as shown for the Outside Reversal Setup above, notice the confluence of Outside Reversal and Doji Reversal on the 31st August. Confluence of patterns usually increases the probability of success. RELIANCE 15m Chart - Pattern can catch nice trends on higher timeframes NIFTY 15m Chart WICK REVERSAL SETUP: This pattern tries to capture candlesticks with large wick sizes, as they often indicate trend reversal when coupled with significant support and resistance levels. Logic: 1. The body is used to determine the size of the reversal wick. A wick that is between 2.5 to 3.5 times larger than the size of the body is ideal. 2. For a bullish reversal wick to exist, the close of the bar should fall within the top 35 percent of the overall range of the candle. 3. For a bearish reversal wick to exist, the close of the bar should fall within the bottom 35 percent of the overall range of the candle. This pattern must always be coupled with important support resistance levels, else there will be a lot of false signals. The chart below is the same NIFTY chart as above with the Wick Reversal candles marked as well. You can see that there are a lot of false signals, but the price also indicates ’pausing’ at important levels by printing a wick reversal setup. You can use this information to your advantage when riding a trend. FINAL WORDS: Settings for various patterns simply reflect the logic described. You will probably need to tweak and optimize the pattern settings for the stock that you are trading. Higher Beta/Higher Volatility stocks are a great choice for these patterns. Using these patterns at critical support and resistance levels will result in dramatically high accuracy. Be creative and try to develop a proper system around this indicator, with rules for position sizing, stop loss etc. You do not have to trade all the patterns. Even trading just one pattern with a proper system is good enough. DO NOT USE THIS INDICATOR AS A BUY/SELL SYSTEM, YOU WILL LOSE MONEY. Feel free to drop any feedback in the comments section below, or if you have any unique candlestick patterns that you would like me to code.
Pine Script™ indicator
by pranjalchaubey
27
Zigzag SARThis is another ZigZag script. But the difference between this and other ZigZag indicators on TV is that here we find highs and lows based on Parabolic SAR. It repaints? YES. On last line of ZigZag you get repainting, because the highs and lows get confirmation only if direction (SAR dots) changes. This shouldn't be used to forecast highs and lows directly anyway, it's just a visual guide for past highs and lows. I'm using it to spot harmonic patterns and Wolfe waves more easily. The plan is to draw these automatically in the future, but my skills at Pinescript are limited at the moment. PS. Ideas for my scripts are coming from @Jegejig1 on Stocktwits, if you want to know who to blame lol
Pine Script™ indicator
by Troptrap
4
Order Block FinderAfter finding a huge amount of use from TV user's wugamlo script Order Block Finder (Experimental) , I decided to make some much needed upgrades! Added support for plotting the last X number of Order Blocks and am currently working on a multi-timeframe version. If you'd like to contribute to the MTF analysis portion, that would benefit tons of other scripts and open the possibility to more "MTF Panel" style indicators. Please visit the original script page (link at top) to review how the indicator is used in trading.
Pine Script™ indicator
by DasanC
28
Pivot order block boxes [LM]Hello traders, let me intoduce you pivot order block boxes. The idea is find the pivot point that within the right side count of candles achieved some percentage change and in that way filter out important pivots. Once the pivot point is found and matches the volatility condition then from the left side of pivot first candle that is up candle for pivot high and down candle for pivot low, could be also the pivot candle itself is selected and rendered high and low of that candle. The premise behind is that those are the levels profesional traders are buying. It has two settings that you can change at your will, it also enables hide/show particular pivot setting Hope you will enjoy as I enjoyed to write it. Lukas
Pine Script™ indicator
by lmatl
3
Pivot Points And Breakout Price Action With LuckyNickVaBar Color Candle Aligned with pivot points swing high and swing lows For Those Who Are Familiar with Trading The Breakouts Of Highs & Lows Of Structure. Pivots are said to be key areas in the market where price shows heavy reaction to where reversals make occur. At these points there are swing Highs & swing lows that traders may be able to find opportunity in the market. This Script is a combination of pivot points and Barcolor signals for the breakout.
Pine Script™ indicator
by Nickafella
3
Monthly Returns in PineScript StrategiesI'm not 100% satisfied with the strategy performance output I receive from TradingView. Quite often I want to see something that is not available by default. I usually export raw trades/metrics from TradingView and then do additional analysis manually. But with tables, you can build additional metrics and tools for your strategies quite easily. This script will just show a table with monthly/yearly performance of your script. Quite a lot of traders/investors used to look at returns like that. Also, it might help you to identify periods of time when your strategy performed good/bad than expected and try to analyze that better. The script is very simple and I believe you can easily apply it to your own strategies. Disclaimer Please remember that past performance may not be indicative of future results. Due to various factors, including changing market conditions, the strategy may no longer perform as well as in historical backtesting. This post and the script don’t provide any financial advice.
Pine Script™ strategy
by QuantNomad
75
Dynamic Pivot Box for Month and YearThe basic idea of the ‘Dynamic Pivot Box’ is to show only the Pivots that are closer to the Price. This is, the nearest pivots acting as support and resistance; thus hiding all other pivots which are further away from the price and also hiding the pivots from previous periods… Pivots will be hidden until price breaks out from the current box and moves to the next one. Hopefully, with this change you can focus more on the actual price action/ price patterns on the chart rather than on several/ noisy lines on the screen. **Please note that the recommended use for this indicator is on the daily or higher timeframes if you want to see Year pivots... Monthly pivots can be still seen on the hourly chart, but I am afraid that lower timeframes will not plot the indicator properly.** The Pivots are taken from Frank Ochoa’s book ‘Secrets of a Pivot Boss’, so if you are not familiar with them, I would recommend you to first take a look at the theory behind them. The Pivots in this indicator are divided in two groups: ‘Standard pivot’ and ‘Camarilla’ pivots.; and then this latter is group is divided in two also: the ‘Main Camarilla’ and ‘Regular Camarilla pivot’. You can select which groups of pivots are taken into account for the ‘Dynamic Pivot Box’. If you decide to select all Three Groups: ‘Standard Pivot’, ‘Main Camarilla’ and ‘Regular Camarilla pivot’ you will see ALWAYS 4 pivots surrounding the price. My recommendation is to select only ‘Standard Pivot’ and ‘Main Camarilla’ so that you see only between 2-3 pivots on the screen. This recommended view is actually the default settings. In addition, if you want to further reduce noise from the chart, you can unselect the ‘Lines’ option within the SETTINGS/ STYLE menu. What you see on the chart/sample is actually this indicator plotted twice: 1. Year Pivots which have the default settings and are shown as white ines 2. Month Pivots have also the default settings BUT I also selected the option ‘Previous Pivots’ to show the pivots from previous period , and also I unselected the ‘Lines’ options as mentioned above to reduce noise. You are more than welcome to enhance the current version, my only ask is to please share the enhanced version back with the community. I wish I could make amends or modify the current version myself but I actually just came up with the idea and I paid a coder in Fiverr to develop it.
Pine Script™ indicator
by BollingerBoss
10
CPR Strategy - (Call and Put Option Selling)The strategy is designed using CPR and Donchian Channels. STRATEGY RULES: We need to wait for "Sell Call" or "Sell Put" arrow on the chart. Sell call or put on the next candle. Sell call strike above CPR resistance and candle close above it will be stop loss. Similarly, sell put strike below CPR support and candle close below it will be stop loss. This strategy is purely based on theta decay principle. Hence, always use this strategy on weekly option. Also, never trade on Monday or Friday to avoid volatility. Hope you enjoy this strategy and become a professional trader. Enjoy! :-) Drop your message below if you have any doubts. Thanks.
Pine Script™ indicator
by nishant.verma1994
12
Pivot Reversal strategy long onlyPivot Point Reversal Strategy Pivot point reversal strategy is based on the first support level’s price action during the bullish trend and the first resistance level during the bearish trend . Traders follow the main trend and enter into the trade after reversal analyzing pivot point levels. This version is an upgraded version, combining the initial pivot point reversal strategy together with one of the most accuracy moving average in my opinion for day trade, the Least square moving average. At the same time I applied an option to backtest using a date range and a leverage calculator. The default options are optimized for BTC /USDT 2H charts, using 0.1% comission fee. If you have any questions, let me know
Pine Script™ strategy
by exlux
ATR Mark Up/DownThis script looks for a period with increased volatility, as measured by ATR (Average True Range), then it looks for a high or a low in that area. When price is above EMA (200 is default, can be changed), it looks for the highs and adds multiples of ATR to the high. Default values for multipliers are 3,9 and 27, meaning that the script will show 3xATR level above the high, 9xATR above the high and 27xATR above the high. When price is below EMA it looks for the lows and subtracts multiples of ATR from the low.The script will show 3xATR level below the low, 9xATR below the low and 27xATR below the low. Multipliers values can be changed as well, making it a versatile tool that shows potential levels of suppport/resistance based on the volatility. Possible use cases: Breakout trading, when price crosses a certain level, it may show potential profit targets for trades opened at a breakout. Stoploss helper. Many traders use ATR for their stoplosses, 1 ATR below the swing low for long trades and 1 ATR above the swing high for short trades are common values used by many traders. In this case, the Lookback value comes handy, if we want to look maybe at a more recent value for swing high/low point. The levels shown by this indicator are not guaranteed to be or not to be reached by price, these levels should be used in confluence with other indicators and looked at as a visual helper. That's all, hope you enjoy it! PS. *It does not plot the ATR. I don't know how to do it and IF it can be done ** It does not plot the EMA. If necessary,it can be added in a future update
Pine Script™ indicator
by Troptrap
Pivot and liquidation lines [LM]Hello traders, I would like to introduce you pivot and liquidation zones. Levels are rendered based on pivot points. We are looking for confluence of liquidation lines in order to have the gist where the market could go. calculation for the liquidation lines are taken from Bybit. It's good to look for line clusters. Indicator doesn't tell you where the market will go but it tells you where are the potential zones of position liquidations There are several settings: pivot setting - ordinary pivot lines setting first leverage - setting for first leverage second leverage - setting for second leverage third leverage - setting for first leverage fourth leverage - setting for second leverage Hope you will enjoy it.
Pine Script™ indicator
by lmatl
10
Multi ZigZag EW - ImpulseSimilar to the previous script on Elliot Wave Impulse: But, here we are trying to use multiple zigzags instead of just one. You can select upto 4 different Zigzags and set different length, line color, line width and style for each. Parameters ShowZigZag , ZigZag Length, ZigZag Color, ZigZag Width, ZigZag Style can be used for adjusting these. ErrorPercent lets you set error threshold calculation of ratios for pattern identification EntryPercent is used for marking Entry and T.Stop (Tight Stoploss) based on the length of Wave 2. Target of the script is same as before. We are trying to identify Wave 1 and 2 of Elliot Impulese Wave and then project Wave 3. Chances of price following the pattern are there. Hence, we set Stoploss based on levels which fails the pattern. Ratios are taken from below link: elliottwave-forecast.com - Section 3.1 Impulse Wave 2 is 50%, 61.8%, 76.4%, or 85.4% of wave 1 - used for identifying the pattern. Wave 3 is 161.8%, 200%, 261.8%, or 323.6% of wave 1-2 - used for setting the targets Since we use multiple zigzags, labels can be quite messy at times. In such scenarios, just disable one of the zigzag length causing label overlaps.
Pine Script™ indicator
by Trendoscope
27
Pivot High/Low Analysis & Forecast [LuxAlgo]Returns pivot points high/low alongside the percentage change between one pivot and the previous one (Δ%) and the distance between the same type of pivots in bars (Δt). The trailing mean for each of these metrics is returned on a dashboard on the chart. The indicator also returns an estimate of the future time position of the pivot points. This indicator by its very nature is not real-time and is meant for descriptive analysis alongside other components of the script. This is normal behavior for scripts detecting pivots as a part of a system and it is important you are aware the pivot labels are not designed to be traded in real-time themselves 🔶 USAGE The indicator can provide information helping the user to infer the position of future pivot points. This information is directly used in the indicator to provide such forecasting. Note that each metric is calculated relative to the same type of pivot points. It is also common for analysts to use pivot points for the construction of various figures, getting the percentage change and distance for each pivot point can allow them to eventually filter out points of non-interest. 🔹 Forecast We use the trailing mean of the distance between respective pivots to estimate the time position of future pivot points, this can be useful to estimate the location of future tops/bottoms. The time position of the forecasted pivot is given by a vertical dashed line on the chart. We can see a successful application of this method below: Above we see the forecasted pivots for BTCUSD15. The forecast of interest being the pivot high. We highlight the forecast position with a blue dotted line for reference. After some time we obtain a new pivot high with a new forecast. However, we can see that the time location of this new pivot high matches perfectly with the prior forecast. The position in time for the forecast is given by: x1_ph + E x1_pl + E where x1_ph denotes the position in time of the most recent pivot high. x1_pl denotes the position in time of the most recent pivot low and E the average distance between respective pivot points. 🔶 SETTINGS Length: Window size for the detection of pivot points. Show Forecasted Pivots: Display forecast of future pivot points. 🔹 Dashboard Dashboard Location: Location of the dashboard on the chart Dashboard Size: Size of the dashboard on the chart Text/Frame Color: Determines the color of the frame grid as well as the text color
Pine Script™ indicator
by LuxAlgo
32
Multi Range VWAP PivotsMulti Range VWAP Pivots turned out to be one of my most accurate pivot indicators to date! Multi Range VWAP Pivots works by recognizing the high and low of the timeframe selected (D, W, M, 6M, and 12M) and plotting range high to VWAP averages and range low to VWAP averages. After further examination of each completed range, I came to the conclusion that due to the nature of averages, high and low respectively would need to be completed within the current range, for the averages to actually display pivots correctly. This means that if all averages appear to be "pivoting" correctly after or during a break lower of higher, then we can only assume the most recent break higher or lower could be exhaustion and price will be reverted to the mean (VWAP). OR, this could be the most accurate hindsight indicator on the planet. *DISCLAIMER*: This indicator repaints. DO NOT backtest or set alerts with this indicator.
Pine Script™ indicator
by dysrupt
6