LonesomeTheBlue

Pivot Point Supertrend

Hello All,

There are many types of SuperTrend around. Recently I thought about a Supertrend based on Pivot Points then I wrote "Pivot Point SuperTrend" script. It looks it has better performance on keeping you in the trend more.

The idea is behind this script is finding pivot point , calculating average of them and like in supertrend creating higher/lower bands by ATR. As you can see in the algorithm the script gives weigth to past pivot points , this is done for smoothing it a bit.


As I wrote above it may keep you in the trend more, lets see an example:

As an option the script can show main center line and I realized that when you are in a position, this line can be used as early exit points. (maybe half of the position size)

While using Pivot Points , I added support resistance lines by using Pivot Point , as an option the script can show S/R lines:

And also it can show Pivot Points:

When you changed Pivot Point Period you can see its reaction, in following example PP period is 4 (default value is 2). Smaller PP periods more sensitive trendlines .

Alerts added for Buy/Sell entries and Trend Reversals. (when you set alerts use the option "Once Per Bar Close")



ENJOY!
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?
If you find my works useful, please consider a donation
BTC: 19qDW9AShZhBZsGuXcgRzam5Fbpc3EU8EV
ETH: 0x39c8552371b9b7f4e324197af460ba8bc8e18ef9

Kommentare

500 Coins
+2 Antworten
@PineCoders, Thank you!
+1 Antworten
jrm-007 LonesomeTheBlue
@LonesomeTheBlue,

Hi, great strategy and code. A simple question, can I plot these levels using a spreadsheet rather than relying on tradingview?
+5 Antworten
Can I use this for intraday trading for 15 minutes chart for accuracy?
+134 Antworten
Whts the accuracy u found in this one ?
+40 Antworten
HermanBrummer kariyabhargav8
@kariyabhargav8, Always the first question I also ask, too much noise on TV with bad indicators.

People really need to publish based on strategy results.

That being said, this indicator looks great, but I'll have to test using a backtester

Thanks to the author for coding this
+3 Antworten
elkadro HermanBrummer
@HermanBrummer, did you backtest?
Antworten
@elkadro, No of course not, he just wanted to sound elitist
+5 Antworten
rareSuccess15812 Stockguy0415
Antworten
apaininthecass HermanBrummer
@HermanBrummer, would love to hear backtest results
+2 Antworten
Startseite Aktien-Screener Forex-Screener Krypto-Screener Wirtschaftskalender Über Chartmerkmale Preise Einen Freund empfehlen Hausregeln Hilfe Center Webseite & Brokerlösungen Widgets Charting Lösungen Lightweight Charting Library Blog & News Twitter
Profil Profileinstellungen Konto und Abrechnung Angeworbene Freunde Coins Meine Support Tickets Hilfe Center Private Nachrichten Chat Abmelden