# Pivot High/Low Analysis & Forecast [LUX]

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This indicator returns pivot point high/lows 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 .

1. Settings

• Length: Window size for the detection of pivot points .
• Show Forecasted Pivots: Display forecast of future pivot points .

1.1 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

2. 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.

2.1 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[Δt]`
`x1_pl + E[Δt]`

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 .
Open-source Skript

Ganz im Sinne von TradingView hat der Autor dieses Skripts es als Open-Source veröffentlicht, damit Trader es verstehen und überprüfen können. Ein Hoch auf den Autor! Sie können es kostenlos verwenden, aber die Wiederverwendung dieses Codes in einer Publikation unterliegt den Hausregeln. Sie können das Skript den Favoriten hinzufügen, um es auf dem Chart zu verwenden.

Möchten Sie dieses Skript auf einem Chart verwenden?

## Kommentare

That's a really great piece of work there. Well constructed. =)
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kurtsmock
@kurtsmock, Thanks so much!
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Like it...Great Job...
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ChrisMoody
@ChrisMoody, Thank you, legend!
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thank you , this is very useful
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dsaidasi
@dsaidasi, <3
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Very impressive, thank you ^^
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Pratik_4Clover
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a youtube video to break this down more in depth would be awesome
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Nice! good job! Thanks!
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