This is an update to the "Pivot HiLo Support n Resistance Levels" indicator, important updates are no re-painting; and different lengths available for each side of Pivot.
Description: The Pivot Points are marked with "star" and with Optional Support and Resistance extension Levels shown.
Options:
Show Pivot Points (default true)
Pivot Length Left Side (default 7), the number of bars left hand side of the Pivot candle.
Pivot Length Right Side (default 3), the number of bars right hand side of the Pivot candle.
Show S/R Extension Levels (default true)
Maximum S/R Extension Length (default 0, no limit)
Show Pivot Labels (instead of "star") "[P.H]" and "[P.L]"
Revisions this release:
Added code to force Pivot to be always complete before drawing.
Added option for different length test for each side of Pivot.
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Optimised some code.
Shortened Pivot labels to "PH" and "PL"
Added code to find correct Pivots when Heikin Ashi candles are used.
Added "Renko Style Pivots" option, so can now be used with Renko charts do give correct Pivots.
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Bug Fix:
Correct Bug introduced by last update, would not find correct pivot point with some assets.
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...Bigger Update
Added optional swing alert arrows and alarmcondition.
Shortened optional Pivot labels to "PH" and "PL"
Added optional MA Ribbon filtering of Pivot points.
Hint: Alerts can be filtered using the MA filter option, but using reverse lengths: eg. 34 for fast MA and 13 for slow MA.
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R4 update
Added option to display HH/HL (lime) and LL/LH (red) symbols at Pivot points. This helps show direction of defined trend, all Lime symbols means trend going up and all red symbols means trend down. If mixed Lime and Red symbols then trend ranging or turning.
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release R5
Remove redundant Pivot labelling. Now have HH,LL,HL,LH labels instead.
Added option start printing Pivot marker early, however, this may result in the current Pivot marker re-building until last candle of pattern is closed.
Replaced "star" pivot markers with small coloured triangles.
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Update R5.3
Added option to show the Pivot candle as a Coloured Bar.
Added option to display Levels as a Fractal Chaos Channel.
Replaced script functions with TV pivothigh() and pivotlow() calls to speed up the processing of the script.
Remove redundant Pivot labelling. Now have HH,LL,HL,LH labels instead.
Added NoWait option to allow Pivot to start printing marker one bar earlier, however, this may result in the current Pivot marker re-building until last candle in the pattern is closed.
Replaced "star" pivot markers with small coloured Dots that sit right on the high or low point of the Pivot Candle.
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Update R5.4 16-Dec-2019
Upgraded to Version 4 Pinescript
Added Line objects to help draw recent Pivot levels clearly.
Added option to filter HH,HL,LL,LH conditions to 3 Levels to show swing points more accurately.
ANY PRACTICAL VIDEO EXPLAINING HOW TO TRADE BY THIS METHODS?
Michael_Aldan
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@satishkumarpaig, use some indicator or price action (S/R, OB's FVG's)
ValentinCisneros
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just for a 1hr TF how would you put the setting to get the most out of a trade?
ilesanmipepsi
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This script is sorcerily good, damn! Despite it's published back in 2017, it's very much relevant 3 years after and still counting!! I back tested it in the 'show only ideal pivots' option for renko chart, the results blew my mind away. In fact, it's an eye opener for me as a BTC trader. I really appreciate your generosity for sharing this script sir.
JustUncleL
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@ilesanmipepsi, Thank you, even though this script was originally published in 2017, it has gone through a number of small improvements over the years since, with latest being some Pinescript V4 line object coding to improve the fractal level line painting and pivot detection options.