I would like to introduce you decision point boxes study. The idea is the same as the pivots looking left and right some count of candles that has to be either up or down candle the only difference from pivots is that I'm only looking for consecutive up or down candle and in between them one candle that is oposite stance than surounding also...
Simple script to highlight
Previous Day Low (PDL), Previous Day High(PDH), Previous Day Close(PDC)
Big round Numbers (BRN)
High Of the Day (HoD)
Low Of the Day (LOD)
-- Will add more DP's going fwd.
Usage : Especially useful to trade on NIFTY/Bank Nifty without any additional specific indicators.
Especially for daily analysis and intraday trading -...
For XBT/USD pairs.
Based on Decision Point oscillator by LazyBear.
I added a Rate of Change component based on code by kiasaki - this stops trading in a sideways market.
You can adjust stop loss and take profit values in the settings.
Go Long when the background turns from red to green
Go Short when the background turns from green to red