Calculates daily classical pivot points from the previous day's high, low, and close to identify intraday reversal setups within a defined trading session.
1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
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
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Long signals fire when price comes within a configurable tick proximity to S1 and prints a bullish reclaim bar closing above it. Short signals occur when price touches within proximity of R1 and closes bearishly below it. It limits execution to one signal per side per day and plots pivot levels alongside entry markers directly on the price chart.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Proximity to pivot (ticks)
int
8
proximity_ticks
Tick size (NQ = 0.25)
float
0.25
tick_size
RTH Session
session
0930-1600
session_str
Timezone
string
America/New_York
session_tz
Stop (ticks)
int
50
risk_ticks
Target (R multiple)
float
2.0
target_R
Show pivot levels
bool
true
show_pivots
Show entry markers
bool
true
show_signals
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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