[JL] Supertrend Zone Pivot Point…: Free TradingView Indicator (Pine Script)

Add It to Your TradingView Chart

1Copy the scriptPress Copy script above, or the copy button on the code below.
2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.

Source Code

190 lines of Pine Script v5 from ZigZag - ishod/[JL] Supertrend Zone Pivot Point with zigzag fib - 10.pine.txt, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.

[JL] Supertrend Zone Pivot Point with zigzag fib - 10.pine.txt

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © Jesse.Lau




//@version=5
indicator(title="[JL] Supertrend Zone Pivot Point with zigzag fib", overlay=true,max_labels_count=500,max_bars_back = 4900)
show_zigzag = input(true, "Show zigzag", group="Show")
show_fib = input(true, "Show fibonacci", group="Show")
show_supertrend = input(true, "Show supertrend", group="Show")
show_premiumdiscount = input(true, "Show premium/discount line", group="Show")

// Getting inputs
atrPeriod = input(10, "ATR Length")
factor = input.float(3, "Factor", step = 0.1)
atrline = input.float(1.5, "Premium/Discount", step = 0.1)
[supertrend, direction] = ta.supertrend(factor, atrPeriod)
bodyMiddle = plot((open + close) / 2, display=display.none)
upTrend = plot(direction < 0 and show_supertrend ? supertrend : na, "Up Trend", color = color.green, style=plot.style_linebr)
downTrend = plot(direction > 0 and show_supertrend ? supertrend :na, "Down Trend", color = color.red, style=plot.style_linebr)

fill(bodyMiddle, upTrend, show_supertrend ? color.new(color.green, 90):na, fillgaps=false)
fill(bodyMiddle, downTrend,show_supertrend ?  color.new(color.red, 90):na, fillgaps=false)

ATR = ta.atr(atrPeriod)
upatrline =  supertrend + atrline*ATR 
dnatrline = supertrend - atrline*ATR 

plot(direction < 0 and show_premiumdiscount ? upatrline : na, "Up ATR", color = color.white, style=plot.style_linebr)
plot(direction > 0 and show_premiumdiscount ? dnatrline : na, "Dn ATR", color = color.white, style=plot.style_linebr)




colorGroupTitle = "Text Color / Label Color"

textColorH = input(title="Pivot High", defval=color.white, inline="Pivot High", group=colorGroupTitle)
labelColorH = input(title="", defval=color.red, inline="Pivot High", group=colorGroupTitle)

textColorL = input(title="Pivot Low", defval=color.white, inline="Pivot Low", group=colorGroupTitle)
labelColorL = input(title="", defval=color.green, inline="Pivot Low", group=colorGroupTitle)

turnGreen = ta.change(direction) < 0
turnRed   = ta.change(direction) > 0


barsturngreen = bar_index - ta.valuewhen(turnGreen, bar_index, 0)
barsturnred = bar_index - ta.valuewhen(turnRed, bar_index, 0)
barsg = barsturngreen>0 ? barsturngreen : 1

h1 = ta.highest(high,barsg)
//plot(h1)
barsr = barsturnred>0 ? barsturnred : 1


l2 = ta.lowest(low,barsr) 
//plot(l2)
barsh = bar_index - ta.valuewhen(ta.change(h1),bar_index,0)
barsl = bar_index - ta.valuewhen(ta.change(l2),bar_index,0)
barsh2 = bar_index - ta.valuewhen(ta.change(h1),bar_index,1)
barsl2 = bar_index - ta.valuewhen(ta.change(l2),bar_index,1)
h1Index = 0
l2Index = 0
var label h1label = na
var label l2label = na
drawLabel(_offset, _pivot, _style, _color, _textColor) =>
    if not na(_pivot)
        label.new(bar_index-_offset, _pivot, str.tostring(_pivot, format.mintick), style=_style, color=_color, textcolor=_textColor)
if turnRed
    
    
    h1label:=drawLabel(barsh, h1, label.style_label_down, labelColorH, textColorH)
    if show_zigzag
        line.new(bar_index - barsh, h1, bar_index-barsl2, l2[1], width = 3, color=color.lime)

if turnGreen
    
    
    l2label:=drawLabel(barsl, l2, label.style_label_up, labelColorL, textColorL)
    if show_zigzag
        line.new(bar_index - barsh2, h1[1], bar_index-barsl, l2, width = 3,color = color.fuchsia)

hh = ta.valuewhen(turnRed, h1, 0)
ll = ta.valuewhen(turnGreen, l2, 0)




mid_val = (hh + ll) / 2

// Plot lines for highest high and lowest low
var line hhLine = na
var line llLine = na
var line midline = na
var label fibLabelh = na
var label fibLabell = na
var label fibLabelm = na
var label fibLabel1 = na
var label fibLabel2 = na
var label fibLabel3 = na
var label fibLabel4 = na
var label fibLabel5 = na
var label fibLabel6 = na
var line fibLine1 = na
var line fibLine2 = na
var line fibLine3 = na
var line fibLine4 = na
var line fibLine5 = na
var line fibLine6 = na
if barstate.islast and show_fib
    while high[h1Index] != h1[1]
        h1Index := h1Index + 1

    while low[l2Index] != l2[1] 
        l2Index := l2Index + 1

    n = math.max(h1Index,l2Index)
    if not na(hhLine)
        line.delete(hhLine)
    if not na(llLine)
        line.delete(llLine)
    if not na(midline)
        line.delete(midline)
    if not na(fibLabelh)
        label.delete(fibLabelh)
    if not na(fibLabell)
        label.delete(fibLabell)
    
    if not na(fibLabelm)
        label.delete(fibLabelm)
    if not na(fibLabel1)
        label.delete(fibLabel1) 
    if not na(fibLabel2)
        label.delete(fibLabel2)
    if not na(fibLabel3)
        label.delete(fibLabel3)

    if not na(fibLabel4)
        label.delete(fibLabel4)
    if not na(fibLabel5)
        label.delete(fibLabel5)

    if not na(fibLabel6)
        label.delete(fibLabel6)
    if not na(fibLine1)
        line.delete(fibLine1)
    if not na(fibLine2)
        line.delete(fibLine2)
    if not na(fibLine3)
        line.delete(fibLine3)
    if not na(fibLine4)
        line.delete(fibLine4)
    if not na(fibLine5)
        line.delete(fibLine5)
    if not na(fibLine6)
        line.delete(fibLine6)
    hhLine := line.new(x1=bar_index-n+1, y1=hh, x2=bar_index, y2=hh, color=color.purple, width=1)
    fibLabelh := label.new(x=bar_index + 10, y=hh , text="1("+str.tostring(hh )+")", style = label.style_none,xloc=xloc.bar_index, yloc=yloc.price, color=color.white, textcolor=color.gray)

    llLine := line.new(x1=bar_index-n+1, y1=ll, x2=bar_index, y2=ll, color=color.purple, width=1)
    fibLabell := label.new(x=bar_index + 10, y=ll , text="0("+str.tostring(ll )+")", style = label.style_none,xloc=xloc.bar_index, yloc=yloc.price, color=color.white, textcolor=color.gray)

    midline := line.new(bar_index-n+1, mid_val, bar_index, mid_val, color=color.purple, width=1)
    fibLabelm := label.new(x=bar_index + 10, y=mid_val , text="0.5("+str.tostring(mid_val )+")", style = label.style_none,xloc=xloc.bar_index, yloc=yloc.price, color=color.white, textcolor=color.gray)

    fibLabel1 := label.new(x=bar_index + 10, y=ll + 0.236*(hh-ll), text="0.236("+str.tostring(ll + 0.236*(hh-ll),"#.####")+")", style = label.style_none,xloc=xloc.bar_index, yloc=yloc.price, color=color.white, textcolor=color.gray)
    
    fibLine1 := line.new(x1 = bar_index-n+1,y1 = ll + 0.236*(hh-ll),x2 = bar_index,y2 = ll + 0.236*(hh-ll),color = color.purple,width = 1)

    fibLabel2 := label.new(x=bar_index + 10, y=ll + 0.382*(hh-ll), text="0.382("+str.tostring(ll + 0.382*(hh-ll),"#.####")+")", style = label.style_none,xloc=xloc.bar_index, yloc=yloc.price, color=color.white, textcolor=color.gray)
    
    fibLine2 := line.new(x1 = bar_index-n+1,y1 = ll + 0.382*(hh-ll),x2 = bar_index,y2 = ll + 0.382*(hh-ll),color = color.purple,width = 1)

    fibLabel3 := label.new(x=bar_index + 10, y=ll + 0.618*(hh-ll), text="0.618("+str.tostring(ll + 0.618*(hh-ll),"#.####")+")", style = label.style_none,xloc=xloc.bar_index, yloc=yloc.price, color=color.white, textcolor=color.gray)
    
    fibLine3 := line.new(x1 = bar_index-n+1,y1 = ll + 0.618*(hh-ll),x2 = bar_index,y2 = ll + 0.618*(hh-ll),color = color.purple,width = 1)

    fibLabel4 := label.new(x=bar_index + 10, y=ll + 0.786*(hh-ll), text="0.786("+str.tostring(ll + 0.786*(hh-ll),"#.####")+")", style = label.style_none,xloc=xloc.bar_index, yloc=yloc.price, color=color.white, textcolor=color.gray)
    
    fibLine4 := line.new(x1 = bar_index-n+1,y1 = ll + 0.786*(hh-ll),x2 = bar_index,y2 = ll + 0.786*(hh-ll),color = color.purple,width = 1)

    if close>supertrend
        fibLabel5 := label.new(x=bar_index + 10, y=ll + 1.618*(hh-ll), text="1.618("+str.tostring(ll + 1.618*(hh-ll),"#.####")+")", style = label.style_none,xloc=xloc.bar_index, yloc=yloc.price, color=color.white, textcolor=color.gray)
        
        fibLine5 := line.new(x1 = bar_index-n+1,y1 = ll + 1.618*(hh-ll),x2 = bar_index,y2 = ll + 1.618*(hh-ll),color = color.purple,width = 1)
    if close<supertrend
        fibLabel6 := label.new(x=bar_index + 10, y=ll - 0.618*(hh-ll), text="-1.618("+str.tostring(ll - 0.618*(hh-ll),"#.####")+")", style = label.style_none,xloc=xloc.bar_index, yloc=yloc.price, color=color.white, textcolor=color.gray)
        
        fibLine6 := line.new(x1 = bar_index-n+1,y1 = ll - 0.618*(hh-ll),x2 = bar_index,y2 = ll - 0.618*(hh-ll),color = color.purple,width = 1)

Overview

Upon direction changes in the Supertrend, it identifies highest highs and lowest lows during the preceding trend to place pivot price labels and render custom ZigZag trendlines connecting high and low pivots. Users can independently toggle the visibility of the Supertrend plot, premium/discount offset lines, ZigZag connections, and Fibonacci levels.

Supertrend trend direction overlay with filled zone display
ATR-based premium and discount offset lines
Dynamic ZigZag line drawing based on Supertrend reversals
Pivot high and low price labels on trend flips
Customizable ATR period, factor multiplier, and display toggles

Details

Published by

WISEPLAT on GitHub

Code credit

Jesse.Lau, as written in the script's header

Type

Indicator, Pine Script v5

Draws

On the price chart

Markets

Any symbol

Timeframes

Any timeframe

Risk Notes

No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.

File

ZigZag - ishod/[JL] Supertrend Zone Pivot Point with zigzag fib - 10.pine.txt

Repository

github.com/WISEPLAT/Pine-MQL5-Scripts-Free. See its other scripts in the library

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

Setting	Type	Default	Variable
Show zigzag	`bool`	`true`	`show_zigzag`
Show fibonacci	`bool`	`true`	`show_fib`
Show supertrend	`bool`	`true`	`show_supertrend`
Show premium/discount line	`bool`	`true`	`show_premiumdiscount`
ATR Length	`int`	`10`	`atrPeriod`
Factor	`float`	`3`	`factor`
Premium/Discount	`float`	`1.5`	`atrline`
Pivot High	`color`	`color.white`	`textColorH`
labelColorH	`color`	`color.red`	`labelColorH`
Pivot Low	`color`	`color.white`	`textColorL`
labelColorL	`color`	`color.green`	`labelColorL`

Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.

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