OPEN-SOURCE SCRIPT
Pivot Edge Pro
Overview
Smart Pivot Analytics is a highly accurate technical analysis tool designed to identify and validate significant price levels. Unlike standard pivot indicators that only mark recent highs, this tool backtests each identified pivot against thousands of historical candlesticks to calculate its real-world “success rate.”
Key Features
Historical Backtesting: The indicator scans up to 4,900 historical columns to find every instance where price interacted with a specific pivot level.
Strength Score (%): Each level is assigned a percentage score based on its reversal rate. It calculates how many times the price has successfully reached and rejected the level, providing a statistical “hit rate.”
Dynamic Hit Counter: Displays the exact number of times a level has been tested (hit), helping traders distinguish between new levels and established “old” levels.
Smart Filtering: To keep the chart clean, the indicator automatically filters out weak levels and prevents “clutter” by merging levels that are too close together.
Infinite Left Projection: Lines extend left to infinity, allowing traders to see the historical significance of a level across the entire price history at a glance.
How to Trade with It
Red Levels (High Power > 75%): These are “Top Reaction Zones”. Expect a strong price rejection or significant breakout when these levels are tested.
Orange Levels (Medium Power): Suitable for profit targets or as secondary confirmation for entering a trade.
Encounter: Use these levels in conjunction with your existing strategy. When a high power pivot aligns with your entry signal, the probability of a successful trade increases significantly.
Technical Parameters
Lookback Period: Defines how far back in history the script calculates power.
Touch Radius: The "sensitivity" of the level (how close the price has to get to be considered a "hit").
Minimum Strength: A filter to show only the most reliable levels.
Smart Pivot Analytics is a highly accurate technical analysis tool designed to identify and validate significant price levels. Unlike standard pivot indicators that only mark recent highs, this tool backtests each identified pivot against thousands of historical candlesticks to calculate its real-world “success rate.”
Key Features
Historical Backtesting: The indicator scans up to 4,900 historical columns to find every instance where price interacted with a specific pivot level.
Strength Score (%): Each level is assigned a percentage score based on its reversal rate. It calculates how many times the price has successfully reached and rejected the level, providing a statistical “hit rate.”
Dynamic Hit Counter: Displays the exact number of times a level has been tested (hit), helping traders distinguish between new levels and established “old” levels.
Smart Filtering: To keep the chart clean, the indicator automatically filters out weak levels and prevents “clutter” by merging levels that are too close together.
Infinite Left Projection: Lines extend left to infinity, allowing traders to see the historical significance of a level across the entire price history at a glance.
How to Trade with It
Red Levels (High Power > 75%): These are “Top Reaction Zones”. Expect a strong price rejection or significant breakout when these levels are tested.
Orange Levels (Medium Power): Suitable for profit targets or as secondary confirmation for entering a trade.
Encounter: Use these levels in conjunction with your existing strategy. When a high power pivot aligns with your entry signal, the probability of a successful trade increases significantly.
Technical Parameters
Lookback Period: Defines how far back in history the script calculates power.
Touch Radius: The "sensitivity" of the level (how close the price has to get to be considered a "hit").
Minimum Strength: A filter to show only the most reliable levels.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.