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Pivot

Zig Zag Channels [LuxAlgo]The Zig Zag indicator is a useful indicator when it comes to visualizing past underlying trends in the price and can make the process of using drawing tools easier. The indicator consists of a series of lines connecting points where the price deviates more than a specific percentage from a maximum/minimum point ultimately connecting local peaks and troughs. This indicator by its very nature backpaints by default, meaning that the displayed components are offset in the past. 🔶 USAGE The Zig Zag indicator is commonly used to returns points of references for the usage of specific drawing tools, such as Fibonacci retracements, fans, squares...etc. The proposed indicator estimates peaks and troughs by using rolling maximums/minimums with a window size determining their significance. This window size approach allows us to have an indicator that works with a certain regularity no matter the scale of the price, something the percentage-based approach struggles with. Additionally, one upper and lower extremity are displayed, highlighting the price point that deviates the most from the Zig Zag lines. A common usage also includes the easy determination of Elliot wave patterns in the price. The Zig Zag indicator above highlights a downtrending motive wave. 🔹 Extremities The novel approach taken by this Zig Zag indicator is the addition of two extremities derived from the distance between the price and the Zig Zag line, thus returning channels. It is uncommon seeing extremities in Zig Zag indicators since the line connecting peaks and troughs has rarely any other utility than seeing trend variations with more clarity and is not meant to provide an accurate estimate of underlying local trends in the price. This channel can be useful to study the potential relationship between underlying trends and the Zig Zag line. A low width between the Zig Zag and the upper extremity indicates price variations mostly located below the Zig Zag while equal width indicates more linear trends. When the indicator is extended to the last line, the extremities provide potential support and resistances, thus making this indicator able to forecast price variations. 🔶 SETTINGS Length: Determines the significance of the detected peaks and troughs. Extend To Last Bar: Extend the most recent line to the most recent closing price value. Show Extremities: Displays the extremities. Show Labels: Display labels highlighting the high/low prices located at peaks and troughs. 🔹 Style Upper Extremity Color: Color of the upper extremity displayed by the indicator. Zig Zag Color: Color of the ZigZag lines. Lower Extremity Color: Color of the lower extremity displayed by the indicator.
Pine Script™ indicator
by LuxAlgo
47
GANN Square Of 9 PivotsGANN Square Of 9 Pivots How to use for Intraday ? Method 01 (From 9:05 am to 9:15 am or pre-open market) Take the Weighted Average Price or Volume Weighted Average Price (VWAP) or Time Weighted Average Price (TWAP) of any stock or index. You can use TWAP for Index as volume is not available. Method 02 (From 9:05 am to 9:15 am or pre-open market) Take the Last Traded Price (LTP) of index or stock Method 03 (After 9:30 am or after 1st 15 min) Only take Last Traded Price (LTP) of stock or index Ideal Time 15min to 1hr after market opens Indicator Features Lines Gray Dashed Line: Calculation Price Teal Solid Line: Long Above Red Solid Line: Short Below 3 Teal Dotted Lines: Bullish Targets 1, 2 & 3 3 Red Dotted Lines: Bearish Targets 1, 2 & 3 Labels 1st Numbers: Price 2nd Numbers in (): % change from LTP to that Level For Index As VWAP is not available for Index, TWAP (Time Weighted Average Price) values can be used for Index. Custom Price Inputs Price of your choice can be given manually by selecting: Source > Custom Enter Price > (type the price) Timeframe Higher timeframes like Weekly, Monthly can be changed using Timeframe Option For More Reading Reading: traderji.com/community/threads/intraday-trading-using-gann-calculator.39185/#post-419677 Calculator: stockmaniacs.net/freebies/free-tools/gann-square-of-9-calculator/
Pine Script™ indicator
by Arun_K_Bhaskar
120
Stronger Classical Support/Resistance + Round LevelsI wrote some Support/Resistance scripts before this. In this new script, I implemented the logic of the code from the scratch, so it's very different from my previous S/R indicators and I think it's more advanced, accurate and efficient. As the result it could do the followings for now: - Draw more strong classical resistance/support levels by checking previous direction changes of the chart as far as Pine technically allows - Colorize the levels based on the counted points of retracement/pullback (The darker the color is, the stronger the level is.) - Show the number of reactions to each level - Change the color of each level based on its main role as support, resistance or both - Draw close round levels to current price for Forex pairs I suggest all users of my previous S/R indicators to try this one. Feel free to send me any issue or opinion!
Pine Script™ indicator
by informanerd
81
Developing Pivot Range [Swastik]This is the developing cpr indicator made by Swastik. It shows how the cpr is developing as the day is progressing. The colour of the range is red when tc is below bc and green when tc is above bc . While calculating the value of cpr , the high is the high from starting of the session and low is the low from starting of the session till that specific candle. This also shows that the trend is developing. If the colour is red and the range starts widening, it means downtrend has started to develop and when the colour is green and range starts widening, it means uptrend is developing.
Pine Script™ indicator
by swastiksaha
24
Zig Lines with Percent & ValueOverview, Features, and Usage: The Zig Lines with Percent & Value is an indicator that highlights the highest and lowest points of the market from pivot points and zigzag lines based on the ZigZag Period setting. By a default value of 13 for the ZigZag Period this works well on Bitcoin or other alt coins on the 1 hour or higher timeframe charts. What makes this indicator unique is that it draws a green line to signify an uptrend or a red line to signify a down trend. It will also show the percent difference between the previous point/line, for example: If you see a -negative percentage point with a red line drawn to it, then you are looking at a low pivot point and then as the green line is drawn to a +positive percentage value the percentage you see is the difference between the two points. This is great to see a trend reversal as you can look at previous pivot points and notice about how far the price moves before it changes direction (trend reversal). There is an invisible EMA line that is used to assist with coloring the negative vs positive values. The value above or below the percentage is the lowest or highest price at that pivot point . The display of the price at the pivot point depends on your ZigZag Period setting and the timeframe of your chart. Added Bollinger Bands as it fits perfectly with the visuals of the Zig Lines & Pivots. Usage of Bollinger Bands: ~As the price or candle gets close to the top or bottom of the Bollinger band it can give you a better confirmation that the pivot location is at it's final place, and the trend is more likely to switch directions. It’s important to know this indicator should not be used for alerts of any type it does repaint as the green or red line is drawing based on live chart data and it can change depending on the direction of the market. This is a great visual tool for trend analysis or to be used with other indicators as a confirmation for a possible good entry or exit position. Credits ( and consent to use ): Credits go to user LonesomeTheBlue for creation of this 'Double Zig Zag with HHLL' script. The addition of the Value above/below the Percentages is from user Noldo and that script is found here: The Bollinger Bands setup was suggested by user countseven12 and his script that uses the same BB setup is found here: References: 1. Chen, James. (2021 March 15). Zig Zag Indicator . Received from http: www.investopedia.com 2. Mitchell, Cory. (2021 April 30). Pivot Points . Received from http: www.investopedia.com
Pine Script™ indicator
by mmoiwgg
34
Logging in Pine ScriptI'm building quite a lot of pretty complicated indicators/strategies in Pine Script. Quite often they don't work from the 1 try so I have to debug them heavily. In Pine Script there are no fancy debuggers so you have to be creative. You can plot values on your screens, check them in the data window, etc. If you want to display some textual information, you can plot some info as labels on the screen. It's not the most convenient way, so with the appearance of tables in Pine Script, I decided to implement a custom logger that will allow me to track some useful information about my indicator over time. Tables work much better for this kind of thing than labels. They're attached to your screen, you can nicely scale them and you can style them much better. The idea behind it is very simple. I used few arrays to store the message, bar number, timestamp, and type of the message (you can color messages depend on the type for example). There is a function log_msg that just append new messages to these arrays. In the end, for the last bar, I create the table and display the last X messages in it. In parameters, you can show/hide the entire journal, change the number of messages displayed and choose an offset. With offset, you can basically scroll through the history of messages. Currently, I implemented 3 types of messages, and I color messages according to these types: Message - gray Warning - yellow Error - red Of course, it's a pretty simple example, you can create a much fancier way of styling your logs. What do you think about it? Is it useful for you? What do you use to debug code in Pine Script? 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 good as in historical backtesting. This post and the script don’t provide any financial advice.
Editors' picks
Pine Script™ indicator
by QuantNomad
12
Combo Backtest 123 Reversal & Pivot Point V2 This is combo strategies for get a cumulative signal. First strategy This System was created from the Book "How I Tripled My Money In The Futures Market" by Ulf Jensen, Page 183. This is reverse type of strategies. The strategy buys at market, if close price is higher than the previous close during 2 days and the meaning of 9-days Stochastic Slow Oscillator is lower than 50. The strategy sells at market, if close price is lower than the previous close price during 2 days and the meaning of 9-days Stochastic Fast Oscillator is higher than 50. Second strategy Pivot points simply took the high, low, and closing price from the previous period and divided by 3 to find the pivot. From this pivot, traders would then base their calculations for three support, and three resistance levels. The calculation for the most basic flavor of pivot points, known as ‘floor-trader pivots’, along with their support and resistance levels. WARNING: - For purpose educate only - This script to change bars colors.
Pine Script™ strategy
by HPotter
1
Combo Backtest 123 Reversal & Pivot Detector Oscillator Copyright by HPotter v1.0 20/04/2021 This is combo strategies for get a cumulative signal. First strategy This System was created from the Book "How I Tripled My Money In The Futures Market" by Ulf Jensen, Page 183. This is reverse type of strategies. The strategy buys at market, if close price is higher than the previous close during 2 days and the meaning of 9-days Stochastic Slow Oscillator is lower than 50. The strategy sells at market, if close price is lower than the previous close price during 2 days and the meaning of 9-days Stochastic Fast Oscillator is higher than 50. Second strategy The Pivot Detector Oscillator, by Giorgos E. Siligardos The related article is copyrighted material from Stocks & Commodities 2009 Sep WARNING: - For purpose educate only - This script to change bars colors.
Pine Script™ strategy
by HPotter
Parallel Pivot Lines [LuxAlgo]Displays lines connecting past pivot high/low points with each line having the slope of a linear regression. This slope can also be controlled by the user with the 'Slope' setting. Each line can be used as a support or resistance by the user. Settings Length : Pivot length. Use higher values for having lines connected to more significant pivots points. Lookback : Number of lines connecting a pivot high/low to display, with a total of lines equal to Lookback*2 Slope : Allows the user to multiply the linear regression slope by a number within -1 and 1 Limitations The script has currently several real time behavior limitations. Lines are displayed retrospectively and will not update with the arrival of new bars. Readjusting the indicator to newer pivots will require the user to either hide/unhide the indicator or change its settings. High Length or Lookback values might not return any lines if the location of a pivot point is outside the defined buffer size of the indicator (set as 5000 bars). How To Use The indicator can be used to get supports and resistances and is more so closer to a drawing tool due to its limitations. The lines not updating with the arrival of new bars have the advantage of providing fixed supports/resistances. The Slope setting allows the user to control the angle and direction of the lines. Using a Slope of 1 will return lines with the same slope as the one of a linear regression fit from the farthest pivot point displayed by the indicator to the most recent bar. The chart above shows the indicators and a linear regression in orange. If you want to have horizontal lines, use a Slope equal to 0. Finally using a negative slope value will allow the user to have lines in opposite directions to the main trend. Conclusion We hope you like this indicator (drawing tool) and find it useful for drawing your support & resistances in a unique way!
Pine Script™ indicator
by LuxAlgo
27
[JRL] Pivot Regression OscillatorIntroducing the Pivot Regression Oscillator. This oscillator uses a similar formula to the Stochastic Oscillator. However, instead of comparing the closing price to the lowest price of a period, it compares the distance between current price and the current pivot point. By basing our oscillator on pivot levels, we incorporate a much more relevant and consequential price point around which to base our comparisons. The indicator can give reliable overbought and oversold signals, and it plots two exponential moving averages as output, which provides crossover signals that can be used to help time trades. The Pivot Regression Oscillator can be effective for timing re-entries into a trend and seems to be able to avoid some of the false signals of other indicators. Let me know if you find this useful. Cheers!
Pine Script™ indicator
by JRL_6
13
3 Weeks Tight - CANSLIM Technical Indicator3 Weeks Tight - Introduction 3 weeks tight is a bullish continuation pattern discovered by IBD's founder, William O'Neil. The pattern can used as an opportunity to add to an existing position as it often occurs after a breakout above a cup with handle or other technical pattern. The 3 weeks tight pattern forms when a stock closes within approximately 1% to 1.5% of the prior week's close for at least two weeks. The reason for the bullishness is that it indciates that investors who moved the stock upward in price since the breakout are not taking profits, the price is holding steady. The buy point is just above the area of resistance formed at the highs of the three weeks plus 10 cents. The ten cent addition to the price is to ensure a push through the resistance at the high of the range. Key Points: It's preferred that closes for each week are in the upper half of the stock's range. Ideally, volume will increase significantly as the stocks moves past the buy point. This pattern generally performs best when the market is in an uptrend. Features: A configurable horizontal bar that spans the 3 week period. A vertical band that highlights the tightness pattern. A label to show the buy price after 3 week tight pattern. Optional alert when the 3 weeks tight pattern is recognized.
Pine Script™ indicator
by JohnMuchow
43