Pivot Support and Resistance Finder [JV] V1

Hi Traders.

This is my first attempt of writing an indicator.
Let me start by saying I could never have done this without lmatl and WMX_Q_System_Trading who were and are an incredible source of inspiration.

This indicator shows horizontal Pivot Support and Resistance . It draws up to 4 horizontal lines extending to the right from and adds labels to High and Low Pivot Candles . It also draws the Support / Resistance that is currently forming.
You can select the number of lines on the current timeframe.

There are some options in Settings:

  • Current timeframe pivot settings
  • Show and hide levels of the current timeframe
  • Change colors
  • Extend Lines

Any suggestions are more than welcome!
I also welcome donations, no matter how small ;-)
Versionshinweise: Fixed two typo's.
  • Fourt -> Fourth
  • in showFourthPivot I had two different occurrences. Fixed that to keep consistancy.
Versionshinweise: Just an update to inform user of the discontinuation of this script in favor of V2.
Versionshinweise: Changed Info Label to notify user of upcoming improvements.
Versionshinweise: Changed Info Label colors and added correct screenshot
Versionshinweise: Hi Traders,

this is the result of the many feedback messages I received about this first draft of this script. It has significant updates:

  • The use of Arrays.
  • Using PineCoders Coding Conventions for Pine: http://www.pinecoders.com/coding_convent...
  • Display up to 6 Support / Resistance levels.
  • Line colors and Labels change according to their status (Support or Resistance).
  • Moved Labels to the future for better overview of the Prices / Levels.

There are many configurable options. Feel free to explore them all.
If you should notice a bug or something of a kind, feel free to contact me.
All feedback is very welcome as well.

Request might be considered but don't take them for granted please.

Pivot Points
Pivot Points are considered to be levels which may become significant levels (Support / Resistance) in the future. They can be interpreted in various ways, but fact is that price, when it comes close to a previous Pivot Point, can mess with your head. Prices often returns to previous Pivot Points, more than once even a few times, as shown below.

I hope you find this useful.
Happy trading!
Versionshinweise: Notice of discontinuation of this script.
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?


Hi, I want to know when the PH support and PH resistance signal generate in real time or three four bars later
+9 Antworten
jurlvarg hirupamg
@hirupamg, Hi. A Pivot High or a Pivot Low is generated in real time, but only after all the conditions have been met, which means that both look-back and look-forward bars are taken in the calculation. That's why you can never have a Pivot Point on the last bar on your chart.
Please note that this script has been abandoned in favor of this one:
tume28 hirupamg
@hirupamg, For me, the Pivot Support and Resistance Finder V1 works better at creating Support & Resistance lines.
your candle stick colour setting really iron beautiful👍👍👍
+1 Antworten
jurlvarg CryptoXpresss
@CryptoXpresss, thank you! I also like it to be honest :-)
Please note that this script has been abandoned in favor of this one:
@jurlvarg, Wow, how to access the new one?
+1 Antworten
Hi, you have an error here

if (showFourtPivots)
createPivotHigh(high, leftBars, rightBars, 3)
createPivotLow(low, leftBars, rightBars, 4)

both of them should have occurence 3 to stay constant

Nice work!
+1 Antworten
@lmatl, Oh oops!! Thanks for pointing that out! I missed that one ... And once again thanks for your inspiration!
+2 Antworten
where is another script?
Thanks Bro, I was looking for this kind of pivot indicator....!!!!!
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