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!
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.
Release Notes:
Algorithm improved
Simple moving average added for the mid point
Simple moving average added for the mid point
Release Notes:
added Color option