Next Pivot Projection [Trendosco…: 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

431 lines of Pine Script v5 from pinescript/editors_picks/next-pivot-projection-trendoscope.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.

next-pivot-projection-trendoscope.pine

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © HeWhoMustNotBeNamed
//                                       ░▒             
//                                  ▒▒▒   ▒▒      
//                              ▒▒▒▒▒     ▒▒      
//                      ▒▒▒▒▒▒▒░     ▒     ▒▒          
//                  ▒▒▒▒▒▒           ▒     ▒▒          
//             ▓▒▒▒       ▒        ▒▒▒▒▒▒▒▒▒▒▒  
//   ▒▒▒▒▒▒▒▒▒▒▒ ▒        ▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒         
//   ▒  ▒       ░▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒░        
//   ▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒░▒▒▒▒▒▒▒▒         
//   ▓▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒ ▒▒                       
//    ▒▒▒▒▒         ▒▒▒▒▒▒▒                            
//                 ▒▒▒▒▒▒▒▒▒                           
//                ▒▒▒▒▒ ▒▒▒▒▒                          
//               ░▒▒▒▒   ▒▒▒▒▓      ████████╗██████╗ ███████╗███╗   ██╗██████╗  ██████╗ ███████╗ ██████╗ ██████╗ ██████╗ ███████╗
//              ▓▒▒▒▒     ▒▒▒▒      ╚══██╔══╝██╔══██╗██╔════╝████╗  ██║██╔══██╗██╔═══██╗██╔════╝██╔════╝██╔═══██╗██╔══██╗██╔════╝
//              ▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒        ██║   ██████╔╝█████╗  ██╔██╗ ██║██║  ██║██║   ██║███████╗██║     ██║   ██║██████╔╝█████╗ 
//             ▒▒▒▒▒       ▒▒▒▒▒       ██║   ██╔══██╗██╔══╝  ██║╚██╗██║██║  ██║██║   ██║╚════██║██║     ██║   ██║██╔═══╝ ██╔══╝  
//            ▒▒▒▒▒         ▒▒▒▒▒      ██║   ██║  ██║███████╗██║ ╚████║██████╔╝╚██████╔╝███████║╚██████╗╚██████╔╝██║     ███████╗
//             ▒▒             ▒                        
//@version=5
indicator("Next Pivot Projection [Trendoscope]", "NPP[Trendoscope]", overlay=true, max_lines_count = 500, max_labels_count = 500)
import HeWhoMustNotBeNamed/mZigzag/12 as zg
import HeWhoMustNotBeNamed/enhanced_ta/14 as eta
import HeWhoMustNotBeNamed/arrays/1 as pa
length = input.int(8, 'Length', group='Zigzag', display = display.none)
oscillatorType = input.string("rsi", title="Oscillator", inline="osc", options=["cci", "cmo", "cog", "mfi", "roc", "rsi"],
                     group='Oscillator', display = display.none)
oscLength = input.int(14, title="", inline="osc", group='Oscillator', display = display.none)
supertrendLength = input.int(5, 'History', inline='st', group='Supertrend', display = display.none)
drawSupertrend = input.bool(false, "Draw Zigzag Supertrend", inline='st2', group='Supertrend', display = display.none)

showTable = input.bool(false, 'Detailed Stats', inline='txt', group = 'Stats and Display', display = display.none)
txtSize = input.string(size.tiny, '', [size.tiny, size.small, size.normal, size.large, size.huge],
                         inline='txt', group = 'Stats and Display', display = display.none)
txtColor = input.color(color.white, '', inline='txt', group = 'Stats and Display', display = display.none)

showPivotLines = input.bool(true, 'Pivot Lines', inline='pli', group = 'Stats and Display', display = display.none)
showPivotLabel = input.bool(false, 'Pivot Label', inline='pla', group = 'Stats and Display', display = display.none)
fillAreas = input.bool(true, 'Fill Bullish/Bearish Sentiments', inline='fil', group = 'Stats and Display', display = display.none)
increment(mtx, row, col, val=1)=>matrix.set(mtx, row, col, matrix.get(mtx, row, col)+val)
gettrendindex(int price, int osc, int trend)=>
    trendFactor = trend > 0 ? 0 : 1
    priceFactor = math.abs(price) > 1? 1 : 0
    oscFactor = math.abs(osc) > 1? 1 : 0
    trendFactor*4 + priceFactor*2 + oscFactor


getSentimentDetails(pDir, oDir, sDir) =>
    sentiment = pDir == oDir ? sDir == pDir or sDir * 2 == -pDir ? -sDir : sDir * 4 : sDir == pDir or sDir == -oDir ? 0 : (math.abs(oDir) > math.abs(pDir) ? sDir : -sDir) * (sDir == oDir ? 2 : 3)
    sentimentSymbol = sentiment == 4 ? '⬆' : sentiment == -4 ? '⬇' : sentiment == 3 ? '↗' : sentiment == -3 ? '↘' : sentiment == 2 ? '⤴' : sentiment == -2 ? '⤵' : sentiment == 1 ? '⤒' : sentiment == -1 ? '⤓' : '▣'
    sentimentColor = sentiment == 4 ? color.green : sentiment == -4 ? color.red : sentiment == 3 ? color.lime : sentiment == -3 ? color.orange : sentiment == 2 ? color.rgb(202, 224, 13, 0) : sentiment == -2 ? color.rgb(250, 128, 114, 0) : color.silver
    sentimentLabel = math.abs(sentiment) == 4 ? 'C' : math.abs(sentiment) == 3 ? 'H' : math.abs(sentiment) == 2 ? 'D' : 'I'
    [sentimentSymbol, sentimentLabel, sentimentColor]


getStatus(int trendIndex, int pivotDir)=>
    trendFactor = int(trendIndex/4)
    remainder = trendIndex % 4
    priceFactor = int(remainder/2)+1
    oscFactor = (remainder % 2)+1
    trendChar = (trendFactor == 0)? 'U' : 'D'
    priceChar = pivotDir > 0? (priceFactor == 2? 'HH' : 'LH') : (priceFactor == 2? 'LL' : 'HL')
    oscChar = pivotDir > 0? (oscFactor == 2? 'HH' : 'LH') : (oscFactor == 2? 'LL' : 'HL')
    trendChar + ' - ' + priceChar + '/'+oscChar

draw_zg_line(idx1, idx2, zigzaglines, zigzaglabels, valueMatrix, directionMatrix, ratioMatrix,  divergenceMatrix, doubleDivergenceMatrix,
                                         barArray, trendArray, lineColor, lineWidth, lineStyle) =>
    if matrix.rows(valueMatrix) > 2
        idxLen1 = matrix.rows(valueMatrix)-idx1
        idxLen2 = matrix.rows(valueMatrix)-idx2
        lastValues = matrix.row(valueMatrix, idxLen1)
        llastValues = matrix.row(valueMatrix, idxLen2)
        
        lastDirections = matrix.row(directionMatrix, idxLen1)
        lastRatios = matrix.row(ratioMatrix, idxLen1)
        lastDivergence = matrix.row(divergenceMatrix, idxLen1)
        lastDoubleDivergence = matrix.row(doubleDivergenceMatrix, idxLen1)

        y1 = array.get(lastValues, 0)
        y2 = array.get(llastValues, 0)
        x1 = array.get(barArray, idxLen1)
        x2 = array.get(barArray, idxLen2)
        zline = line.new(x1=x1, y1=y1, x2=x2, y2=y2, color=lineColor, width=lineWidth, style=lineStyle)
        currentDir = y1 > y2? 1 : -1
        
        priceDir = array.get(lastDirections, 0)
        oscDir = array.get(lastDirections, 1)
        trendDir = array.get(trendArray, idxLen1)
        trendIndex = gettrendindex(priceDir, oscDir, trendDir)
        trendLabel = getStatus(trendIndex, currentDir)
        [sentimentSymbol, sentimentLabel, sentimentColor] = getSentimentDetails(priceDir, oscDir, trendDir)

        labelStyle = currentDir > 0? label.style_label_down : label.style_label_up
        zlabel = showPivotLabel ? label.new(x=x1, y=y1, yloc=yloc.price, color=sentimentColor, style=labelStyle, text=sentimentSymbol + ' ' + trendLabel, 
                                     textcolor=color.black, size = size.small, tooltip=sentimentLabel) : na
        if array.size(zigzaglines) > 0
            lastLine = array.get(zigzaglines, array.size(zigzaglines)-1)
            if line.get_x2(lastLine) == x2 and line.get_x1(lastLine) <= x1
                pa.pop(zigzaglines)
                pa.pop(zigzaglabels)
        
        pa.push(zigzaglines, zline, 500)
        pa.push(zigzaglabels, zlabel, 500)

draw(matrix<float> valueMatrix, matrix<int> directionMatrix, matrix<float> ratioMatrix,  matrix<int> divergenceMatrix, matrix<int> doubleDivergenceMatrix, array<int> barArray, array<int> trendArray,
                 bool newZG, bool doubleZG, color lineColor = color.blue, int lineWidth = 1, string lineStyle = line.style_solid)=>
    var zigzaglines = array.new_line(0)
    var zigzaglabels = array.new_label(0)
    if(newZG)
        if doubleZG
            draw_zg_line(2, 3, zigzaglines, zigzaglabels, valueMatrix, directionMatrix, ratioMatrix, divergenceMatrix, doubleDivergenceMatrix, barArray, trendArray,
                             lineColor, lineWidth, lineStyle)

        if matrix.rows(valueMatrix) >= 2
            draw_zg_line(1, 2, zigzaglines, zigzaglabels, valueMatrix, directionMatrix, ratioMatrix,  divergenceMatrix, doubleDivergenceMatrix, barArray, trendArray,
                             lineColor, lineWidth, lineStyle)
    [valueMatrix, directionMatrix, ratioMatrix, divergenceMatrix, doubleDivergenceMatrix, barArray, zigzaglines, zigzaglabels]

    

indicatorHigh = array.new_float()
indicatorLow = array.new_float()
indicatorLabels = array.new_string()

[oscHigh, _, _] = eta.oscillator(oscillatorType, oscLength, oscLength, oscLength, high)
[oscLow, _, _] = eta.oscillator(oscillatorType, oscLength, oscLength, oscLength, low)
array.push(indicatorHigh, math.round(oscHigh,2))
array.push(indicatorLow, math.round(oscLow,2))
array.push(indicatorLabels, oscillatorType+str.tostring(oscLength))


[valueMatrix, directionMatrix, ratioMatrix, divergenceMatrix, doubleDivergenceMatrix, barArray, trendArray, supertrendDir, supertrend, newZG, doubleZG] = 
                                                         zg.calculate(length, array.from(high, low), indicatorHigh, indicatorLow, supertrendLength = supertrendLength)

nextDirection = matrix.rows(directionMatrix) > 0? matrix.row(directionMatrix, matrix.rows(directionMatrix)-1) : array.new_int()
lastDirection = matrix.rows(directionMatrix) > 1? matrix.row(directionMatrix, matrix.rows(directionMatrix)-2) : array.new_int()
llastDirection = matrix.rows(directionMatrix) > 2? matrix.row(directionMatrix, matrix.rows(directionMatrix)-3) : array.new_int()
lllastDirection = matrix.rows(directionMatrix) > 3? matrix.row(directionMatrix, matrix.rows(directionMatrix)-4) : array.new_int()

var pivotHighStats = matrix.new<int>(64, 3, 0)
var pivotLowStats = matrix.new<int>(64, 3, 0)

var pivotHighRatios = matrix.new<float>(64, 3, 0)
var pivotLowRatios = matrix.new<float>(64, 3, 0)

var pivotHighBars = matrix.new<float>(64, 3, 0)
var pivotLowBars = matrix.new<float>(64, 3, 0)

currentTotalTrendIndex = 0
nextTotalTrendIndex = 0
currentDir = matrix.rows(directionMatrix) > 0? matrix.get(directionMatrix, matrix.rows(directionMatrix)-1, 0) : 0

currentPDir = lastDirection.size() > 0 ? lastDirection.first() : na
changePriceDirection = ta.change(math.sign(currentPDir))
if(array.size(lllastDirection) > 0)
    priceDirection = array.get(lastDirection, 0)
    priceRatio = matrix.get(ratioMatrix, matrix.rows(ratioMatrix)-2, 0)

    numberOfBars = array.get(barArray, array.size(barArray)-2) - array.get(barArray, array.size(barArray)-3)
    currentPriceDirection = array.get(lastDirection, 0)
    currentOscDirection = array.get(lastDirection, 1)
    currentTrend = array.get(trendArray, array.size(trendArray)-2)

    nextPriceDirection = array.get(nextDirection, 0)
    nextOscDirection = array.get(nextDirection, 1)
    nextTrend = array.get(trendArray, array.size(trendArray)-1)

    lastPriceDirection = array.get(llastDirection, 0)
    lastOscDirection = array.get(llastDirection, 1)
    lastTrend = array.get(trendArray, array.size(trendArray)-3)

    llastPriceDirection = array.get(lllastDirection, 0)
    llastOscDirection = array.get(lllastDirection, 1)
    llastTrend = array.get(trendArray, array.size(trendArray)-4)

    colLast = math.abs(priceDirection) %2

    nextTrendIndex = gettrendindex(nextPriceDirection, nextOscDirection, nextTrend)
    currentTrendIndex = gettrendindex(currentPriceDirection, currentOscDirection, currentTrend)
    lastTrendIndex = gettrendindex(lastPriceDirection, lastOscDirection, lastTrend)
    llastTrendIndex = gettrendindex(llastPriceDirection, llastOscDirection, llastTrend)

    totalIndex = lastTrendIndex*8 + llastTrendIndex
    currentTotalTrendIndex := currentTrendIndex*8 + lastTrendIndex
    nextTotalTrendIndex := nextTrendIndex*8 + currentTrendIndex

    matrixToSet = math.sign(priceDirection) > 0? pivotHighStats : pivotLowStats
    ratioMatrixToSet = math.sign(priceDirection) > 0? pivotHighRatios : pivotLowRatios
    barMatrixToSet = math.sign(priceDirection) > 0? pivotHighBars : pivotLowBars

    if(not na(currentPDir) and changePriceDirection != 0)
        increment(matrixToSet, totalIndex, colLast)
        increment(ratioMatrixToSet, totalIndex, colLast, priceRatio)
        increment(barMatrixToSet, totalIndex, colLast, numberOfBars)

        increment(matrixToSet, totalIndex, 2)
        increment(ratioMatrixToSet, totalIndex, 2, priceRatio)
        increment(barMatrixToSet, totalIndex, 2, numberOfBars)


var float hhValue = na
var float lhValue = na

var float llValue = na
var float hlValue = na

var float hhProbability = na
var float llProbability = na

var float htRatio = na
var float ltRatio = na
if(array.size(barArray) > 10)
    currentBar = array.get(barArray, array.size(barArray)-1)
    lastBar = array.get(barArray, array.size(barArray)-2)
    currentPrice = matrix.get(valueMatrix, matrix.rows(valueMatrix)-1, 0)
    lastPrice = matrix.get(valueMatrix, matrix.rows(valueMatrix)-2, 0)
    llastPrice = matrix.get(valueMatrix, matrix.rows(valueMatrix)-3, 0)
    startRow = 2
    var statsTable = showTable ? table.new(position=position.top_right, columns=10, rows=64+startRow, border_color = color.black, border_width = 2) : na
    
    phSortIndices = array.sort_indices(matrix.col(pivotHighStats, 2), order.descending)
    
    phColStart = currentDir > 0 ? 0 : 5
    
    if(showTable)
        table.clear(statsTable, 0, 0, 9, 64+startRow-1)
        table.cell(statsTable, phColStart, 0, 'Pivot High Projection', text_color = txtColor, text_size = txtSize, bgcolor = color.maroon)
        table.cell(statsTable, phColStart, 1, 'Last Two Pivots', text_color = txtColor, text_size = txtSize, bgcolor = color.maroon)
        table.cell(statsTable, phColStart+2, 1, 'HH', text_color = txtColor, text_size = txtSize, bgcolor = color.maroon)
        table.cell(statsTable, phColStart+3, 1, 'LH', text_color = txtColor, text_size = txtSize, bgcolor = color.maroon)
        table.cell(statsTable, phColStart+4, 1, 'T', text_color = txtColor, text_size = txtSize, bgcolor = color.maroon)
        table.merge_cells(statsTable, phColStart, 0, phColStart+4, 0)
        table.merge_cells(statsTable, phColStart, 1, phColStart+1, 1)

    hlr = startRow
    for i=0 to 63
        si = array.get(phSortIndices, i)
        lastTrendIndex = int(si/8)
        llastTrendIndex = si%8

        lastPivotStatus = getStatus(lastTrendIndex, -1)
        llastPivotStatus = getStatus(llastTrendIndex, 1)
        hhStats = matrix.get(pivotHighStats, si, 0)
        lhStats = matrix.get(pivotHighStats, si, 1)
        tStats = matrix.get(pivotHighStats, si, 2)

        hhRatio = math.round(matrix.get(pivotHighRatios, si, 0)/hhStats, 3)
        lhRatio = math.round(matrix.get(pivotHighRatios, si, 1)/lhStats, 3)
        tRatio = math.round(matrix.get(pivotHighRatios, si, 2)/tStats, 3)

        hhBars = math.round(matrix.get(pivotHighBars, si, 0)/hhStats)
        lhBars = math.round(matrix.get(pivotHighBars, si, 1)/lhStats)
        tBars = math.round(matrix.get(pivotHighBars, si, 2)/tStats)
        highlight = math.sign(currentDir) < 0 ? nextTotalTrendIndex == si  : currentTotalTrendIndex == si

        hhTooltip = 'Average Ratio - '+str.tostring(hhRatio)+'\n'+'Average Bars - '+str.tostring(hhBars)
        lhTooltip = 'Average Ratio - '+str.tostring(lhRatio)+'\n'+'Average Bars - '+str.tostring(lhBars)
        tTooltip = 'Average Ratio - '+str.tostring(tRatio)+'\n'+'Average Bars - '+str.tostring(tBars)

        if(highlight)
            var line hhLine = na
            var line lhLine = na
            var line tLine = na
            var label hhLabel = na
            var label lhLabel = na
            var label tLabel = na

            line.delete(hhLine)
            line.delete(lhLine)
            line.delete(tLine)
            label.delete(hhLabel)
            label.delete(lhLabel)
            label.delete(tLabel)
            
            x1 = math.sign(currentDir) < 0 ? currentBar : lastBar
            hhX2 = x1 + hhBars
            lhX2 = x1 + lhBars
            tX2 = x1 + tBars

            y1 = math.sign(currentDir) < 0 ? currentPrice : lastPrice
            prev = math.sign(currentDir) < 0 ? lastPrice : llastPrice
            hhY2 = math.round_to_mintick(y1 + math.abs(y1-prev)*hhRatio)
            lhY2 = math.round_to_mintick(y1 + math.abs(y1-prev)*lhRatio)
            tY2 = math.round_to_mintick(y1 + math.abs(y1-prev)*tRatio)
            hhLine := line.new(x1, y1, hhX2, hhY2, xloc=xloc.bar_index, color=color.green, style=line.style_arrow_right)
            lhLine := line.new(x1, y1, lhX2, lhY2, xloc=xloc.bar_index, color=color.lime, style=line.style_arrow_right)
            tLine := line.new(x1, y1, tX2, tY2, xloc=xloc.bar_index, color=color.yellow, style=line.style_arrow_right)

            hhPercent = str.tostring(hhStats*100/tStats, format.percent)
            lhPercent = str.tostring(lhStats*100/tStats, format.percent)
            hhText = 'Number of Historical References :'+str.tostring(hhStats)+'/'+str.tostring(tStats)+
                         '\nProbability of Higher High :'+hhPercent+
                         '\nAverage Higher High Ratio :'+str.tostring(hhRatio) +
                         '\nAverage Higher High Bars :'+str.tostring(hhBars)
            lhText = 'Number of Historical References :'+str.tostring(lhStats)+'/'+str.tostring(tStats)+
                         '\nProbability of Lower High :'+lhPercent+
                         '\nAverage Lower High Ratio :'+str.tostring(lhRatio) +
                         '\nAverage Lower High Bars :'+str.tostring(lhBars)
            tText = 'Number of Historical References :'+str.tostring(tStats)+
                         '\nAverage Fib Ratio :'+str.tostring(tRatio)+
                         '\nAverage Bars :'+str.tostring(tBars)
            hhLabel := label.new(hhX2, hhY2, str.tostring(hhY2)+ ' - ' +hhPercent, style=label.style_label_lower_left, color=color.new(color.green, 70), textcolor = color.white, size=size.small, tooltip=hhText)
            lhLabel := label.new(lhX2, lhY2, str.tostring(lhY2)+ ' - ' +lhPercent, style=label.style_label_upper_left, color=color.new(color.lime, 70), textcolor = color.white, size=size.small, tooltip=lhText)
            tLabel := label.new(tX2, tY2, str.tostring(tY2)+ '@'+str.tostring(tRatio), style=label.style_label_left, color=color.new(color.yellow, 70), textcolor = color.white, size=size.small, tooltip=tText)
            hhValue := hhY2
            lhValue := lhY2
            hhProbability := hhStats*100/tStats
            htRatio := tRatio

        if(hhStats != 0 and lhStats != 0) and showTable
            table.cell(statsTable, phColStart, hlr, llastPivotStatus, text_color = txtColor, text_size = txtSize, bgcolor = color.new(color.lime, 60))
            table.cell(statsTable, phColStart+1, hlr, lastPivotStatus, text_color = txtColor, text_size = txtSize, bgcolor = color.new(color.orange, 60))
            table.cell(statsTable, phColStart+2, hlr, str.tostring(hhStats)+' - '+str.tostring(hhRatio), text_color = txtColor, text_size = txtSize, bgcolor = color.new(color.green, highlight ? 50 : 90), tooltip = hhTooltip)
            table.cell(statsTable, phColStart+3, hlr, str.tostring(lhStats)+' - '+str.tostring(lhRatio), text_color = txtColor, text_size = txtSize, bgcolor = color.new(color.red, highlight? 50 : 90), tooltip = lhTooltip)
            table.cell(statsTable, phColStart+4, hlr, str.tostring(tStats)+' - '+str.tostring(tRatio), text_color = txtColor, text_size = txtSize, bgcolor = color.from_gradient(hhStats/tStats, 0, 1, color.red, color.green), tooltip = tTooltip)
            hlr+=1


    plColStart = currentDir < 0 ? 0 : 5
    if(showTable)
        table.cell(statsTable, plColStart, 0, 'Pivot Low Projection', text_color = txtColor, text_size = txtSize, bgcolor = color.maroon)
        table.cell(statsTable, plColStart, 1, 'Last Two Pivots', text_color = txtColor, text_size = txtSize, bgcolor = color.maroon)
        table.cell(statsTable, plColStart+2, 1, 'LL', text_color = txtColor, text_size = txtSize, bgcolor = color.maroon)
        table.cell(statsTable, plColStart+3, 1, 'HL', text_color = txtColor, text_size = txtSize, bgcolor = color.maroon)
        table.cell(statsTable, plColStart+4, 1, 'T', text_color = txtColor, text_size = txtSize, bgcolor = color.maroon)
        table.merge_cells(statsTable, plColStart, 0, plColStart+4, 0)
        table.merge_cells(statsTable, plColStart, 1, plColStart+1, 1)
    plSortIndices = array.sort_indices(matrix.col(pivotLowStats, 2), order.descending)

    llr = startRow
    for i=0 to 63
        si = array.get(plSortIndices, i)
        lastTrendIndex = int(si/8)
        llastTrendIndex = si%8

        lastPivotStatus = getStatus(lastTrendIndex, 1)
        llastPivotStatus = getStatus(llastTrendIndex, -1)
        llStats = matrix.get(pivotLowStats, si, 0)
        hlStats = matrix.get(pivotLowStats, si, 1)
        tStats = matrix.get(pivotLowStats, si, 2)

        llRatio = math.round(matrix.get(pivotLowRatios, si, 0)/llStats, 3)
        hlRatio = math.round(matrix.get(pivotLowRatios, si, 1)/hlStats, 3)
        tRatio = math.round(matrix.get(pivotLowRatios, si, 2)/tStats, 3)

        llBars = math.round(matrix.get(pivotLowBars, si, 0)/llStats)
        hlBars = math.round(matrix.get(pivotLowBars, si, 1)/hlStats)
        tBars = math.round(matrix.get(pivotLowBars, si, 2)/tStats)

        highlight = math.sign(currentDir) > 0 ? nextTotalTrendIndex== si  : currentTotalTrendIndex  == si

        llTooltip = 'Average Ratio - '+str.tostring(llRatio)+'\n'+'Average Bars - '+str.tostring(llBars)
        hlTooltip = 'Average Ratio - '+str.tostring(hlRatio)+'\n'+'Average Bars - '+str.tostring(hlBars)
        tTooltip = 'Average Ratio - '+str.tostring(tRatio)+'\n'+'Average Bars - '+str.tostring(tBars)

        if(highlight)
            var line llLine = na
            var line hlLine = na
            var line tLine = na

            var label llLabel = na
            var label hlLabel = na
            var label tLabel = na

            line.delete(llLine)
            line.delete(hlLine)
            line.delete(tLine)

            label.delete(llLabel)
            label.delete(hlLabel)
            label.delete(tLabel)

            x1 = math.sign(currentDir) > 0 ? currentBar : lastBar
            llX2 = x1 + llBars
            hlX2 = x1 + hlBars
            tX2 = x1 + tBars

            y1 = math.sign(currentDir) > 0 ? currentPrice : lastPrice
            prev = math.sign(currentDir) > 0 ? lastPrice : llastPrice
            llY2 = math.round_to_mintick(y1 - math.abs(y1-prev)*llRatio)
            hlY2 = math.round_to_mintick(y1 - math.abs(y1-prev)*hlRatio)
            tY2 = math.round_to_mintick(y1 - math.abs(y1-prev)*tRatio)
            llLine := line.new(x1, y1, llX2, llY2, xloc=xloc.bar_index, color=color.red, style=line.style_arrow_right)
            hlLine := line.new(x1, y1, hlX2, hlY2, xloc=xloc.bar_index, color=color.orange, style=line.style_arrow_right)
            tLine := line.new(x1, y1, tX2, tY2, xloc=xloc.bar_index, color=color.yellow, style=line.style_arrow_right)

            llPercent = str.tostring(llStats*100/tStats, format.percent)
            hlPercent = str.tostring(hlStats*100/tStats, format.percent)
            llText = 'Number of Historical References :'+str.tostring(llStats)+'/'+str.tostring(tStats)+
                         '\nProbability of Lower Low :'+llPercent+
                         '\nAverage Lower Low Ratio :'+str.tostring(llRatio) +
                         '\nAverage Lower Low Bars :'+str.tostring(llBars)
            hlText = 'Number of Historical References :'+str.tostring(hlStats)+'/'+str.tostring(tStats)+
                         '\nProbability of Higher Low :'+hlPercent+
                         '\nAverage Higher Low Ratio :'+str.tostring(hlRatio) +
                         '\nAverage Higher Low Bars :'+str.tostring(hlBars)
            tText = 'Number of Historical References :'+str.tostring(tStats)+
                         '\nAverage Fib Ratio :'+str.tostring(tRatio)+
                         '\nAverage Bars :'+str.tostring(tBars)
            llLabel := label.new(llX2, llY2, str.tostring(llY2)+ ' - ' +llPercent, style=label.style_label_upper_left, color=color.new(color.red, 70), textcolor = color.white, size=size.small, tooltip=llText)
            hlLabel := label.new(hlX2, hlY2, str.tostring(hlY2)+ ' - ' +hlPercent, style=label.style_label_lower_left, color=color.new(color.orange, 70), textcolor = color.white, size=size.small, tooltip=hlText)
            tLabel := label.new(tX2, tY2, str.tostring(tY2)+ '@'+str.tostring(tRatio), style=label.style_label_left, color=color.new(color.yellow, 70), textcolor = color.white, size=size.small, tooltip=tText)
            llValue := llY2
            hlValue := hlY2
            llProbability := llStats*100/tStats
            ltRatio := tRatio

        if(llStats != 0 and hlStats != 0) and showTable
            table.cell(statsTable, plColStart, llr, llastPivotStatus, text_color = txtColor, text_size = txtSize, bgcolor = color.new(color.orange, 60))
            table.cell(statsTable, plColStart+1, llr, lastPivotStatus, text_color = txtColor, text_size = txtSize, bgcolor = color.new(color.lime, 60))
            table.cell(statsTable, plColStart+2, llr, str.tostring(llStats)+' - '+str.tostring(llRatio), text_color = txtColor, text_size = txtSize, bgcolor = color.new(color.red, highlight? 50 : 90), tooltip=llTooltip)
            table.cell(statsTable, plColStart+3, llr, str.tostring(hlStats)+' - '+str.tostring(hlRatio), text_color = txtColor, text_size = txtSize, bgcolor = color.new(color.green, highlight? 50 : 90), tooltip = hlTooltip)
            table.cell(statsTable, plColStart+4, llr, str.tostring(tStats)+' - '+str.tostring(tRatio), text_color = txtColor, text_size = txtSize, bgcolor = color.from_gradient(llStats/tStats, 0, 1, color.green, color.red), tooltip = tTooltip)
            llr+=1


if showPivotLines
    draw(valueMatrix, directionMatrix, ratioMatrix,  divergenceMatrix, doubleDivergenceMatrix, barArray, trendArray, newZG, doubleZG)

plot(drawSupertrend? supertrend:na, color=supertrendDir>0? color.green:color.red, style=plot.style_linebr)


hhp = plot(fillAreas?hhValue:na, 'Higher High Range', color.new(color.green, 100), 1)
lhp = plot(fillAreas?lhValue:na, 'Lower High Range', color.new(color.lime, 100), 1)
llp = plot(fillAreas?llValue:na, 'Lower Low Range', color.new(color.red, 100), 1)
hlp = plot(fillAreas?hlValue:na, 'Higher Low Range', color.new(color.orange, 100), 1)

fill(hhp, lhp, color=color.new(hhProbability > 50 ? color.green : hhProbability < 50? color.red : color.silver, 90))
fill(llp, hlp, color=color.new(llProbability > 50 ? color.red : llProbability < 50? color.green : color.silver, 90))

Overview

Next Pivot Projection [Trendoscope] draws projected pivot points, pivot lines, sentiment background fills, and an optional zigzag supertrend structure. Users can customize zigzag lengths, oscillator parameters, and toggle a detailed statistics table. Because pivot confirmation relies on zigzag mechanics, unconfirmed pivot points repaint until sufficient confirmation bars have closed.

Zigzag pivot projection system
Selectable momentum oscillator calculation
Optional zigzag supertrend overlay
Bullish and bearish sentiment area fills
Configurable pivot lines and labels

Details

Published by

regalouisei on GitHub

Code credit

HeWhoMustNotBeNamed, 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

Signals can change on the live bar or after it closes (repainting)

File

pinescript/editors_picks/next-pivot-projection-trendoscope.pine

Repository

github.com/regalouisei/collect-tradingview. 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
Length	`int`	`8`	`length`
Oscillator	`string`	`rsi`	`oscillatorType`
oscLength	`int`	`14`	`oscLength`
History	`int`	`5`	`supertrendLength`
Draw Zigzag Supertrend	`bool`	`false`	`drawSupertrend`
Detailed Stats	`bool`	`false`	`showTable`
txtSize	`string`	`size.tiny`	`txtSize`
txtColor	`color`	`color.white`	`txtColor`
Pivot Lines	`bool`	`true`	`showPivotLines`
Pivot Label	`bool`	`false`	`showPivotLabel`
Fill Bullish/Bearish Sentiments	`bool`	`true`	`fillAreas`

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.

Similar Pine Scripts

Support and Resistance Levels

by capissimo

114

This indicator calculates key support and resistance levels by analyzing the first and second momentum derivatives of a Double Exponential Moving Average (DEMA). When the second derivative (momentum of momentum) crosses zero, it identifies local turning points

Indicator v4 Support & resistanceOscillators & momentum

Updated 1 year ago · None stated

Moon Dev Lunar Sniper

by moondevonyt

92

Moon Dev Lunar Sniper is a multi-indicator overlay that scores confluence across fast and slow EMAs, RSI, MACD, DMI, and BB width to fire signals only when score meets the minimum threshold. It plots buy and sell signals on the price chart, highlights cosmic b

Indicator v6 TrendOscillators & momentum Repaints

Updated 8 weeks ago · Custom licence

Self-Aware Trend System [WillyAlgoTrader]

by greybeard-code

14

Self-Aware Trend System calculates volatility-adaptive ATR trailing bands using a Trend Quality Index engine that evaluates market efficiency, momentum persistence, and structural pivots. It plots adaptive trend bands and character-flip trend signals directly

Indicator v6 TrendVolatility & bands

Updated 2 weeks ago · MIT

SPY 0DTE Scalper - 15min

by chris-c-thomas

14

This intraday overlay establishes directional bias and high-conviction swing setups for SPY on the 15-minute timeframe. It computes a weighted confluence score combining an EMA ribbon, a 50 EMA anchor, session VWAP bands, RSI divergence, ADX, TTM Squeeze, cand

Indicator v6 TrendOscillators & momentum

Updated 6 months ago · MIT

Market Trend

by azamiftikhar1000

12

Market Trend is an overlay indicator that identifies market direction and key price levels. It calculates a Relative Strength Index with Bollinger Bands to construct a 20-step color gradient reflecting momentum shifts. The script incorporates exponential movin

Indicator v4 TrendOscillators & momentum

Updated 3 years ago · None stated

BTE Acc AO SMIO

by f-cksociety

11

This script provides an indicator-based backtesting engine framework that simulates trade entries, exits, and filtering directly on the price chart. It evaluates selected entry rules and multi-layered filters, including moving average trends, volume increases,

Indicator v5 TrendOscillators & momentum

Updated 4 years ago · MPL-2.0

More indicators

Next Pivot Projection [Trendoscope]