This strategy plots VWMA-based Bollinger bands on the 1-minute ES futures price chart for volatility analysis and potential breakout identification. It calculates dynamic long and short stop loss and take profit levels using percentage inputs relative to entry
Strategy · Pine Script v4 · On the chart
Pivot Point SuperTrend strategy
This Pine Script strategy uses pivot points to calculate a dynamic center line, around which ATR-based bands are drawn to form upper and lower limits.
GitHub stars2on the repository
Pine versionv4older, still runs
Lines of code80
Settings7inputs
LicenceMIT
Last update4 years ago15 Dec 2021
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 strategy, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart. The trades and results appear in the Strategy Tester tab; adjust the settings with the gear icon.
Source Code
80 lines of Pine Script v4 from [Order] Pivot Point SuperTrend strategy.txt, published under MIT. Keep the author's credit and licence lines when you reuse it.
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © LonesomeTheBlue
//@version=4
strategy("[Order] Pivot Point SuperTrend strategy", overlay = true)
prd = input(defval = 2, title="Pivot Point Period", minval = 1, maxval = 50)
Factor=input(defval = 3, title = "ATR Factor", minval = 1, step = 0.1)
Pd=input(defval = 10, title = "ATR Period", minval=1)
showpivot = input(defval = false, title="Show Pivot Points")
showlabel = input(defval = true, title="Show Buy/Sell Labels")
showcl = input(defval = false, title="Show PP Center Line")
showsr = input(defval = false, title="Show Support/Resistance")
// get Pivot High/Low
float ph = pivothigh(prd, prd)
float pl = pivotlow(prd, prd)
// drawl Pivot Points if "showpivot" is enabled
plotshape(ph and showpivot, text="H", style=shape.labeldown, color=na, textcolor=color.red, location=location.abovebar, transp=0, offset = -prd)
plotshape(pl and showpivot, text="L", style=shape.labeldown, color=na, textcolor=color.lime, location=location.belowbar, transp=0, offset = -prd)
// calculate the Center line using pivot points
var float center = na
float lastpp = ph ? ph : pl ? pl : na
if lastpp
if na(center)
center := lastpp
else
//weighted calculation
center := (center * 2 + lastpp) / 3
// upper/lower bands calculation
Up = center - (Factor * atr(Pd))
Dn = center + (Factor * atr(Pd))
// get the trend
float TUp = na
float TDown = na
Trend = 0
TUp := close[1] > TUp[1] ? max(Up, TUp[1]) : Up
TDown := close[1] < TDown[1] ? min(Dn, TDown[1]) : Dn
Trend := close > TDown[1] ? 1: close < TUp[1]? -1: nz(Trend[1], 1)
Trailingsl = Trend == 1 ? TUp : TDown
// plot the trend
linecolor = Trend == 1 and nz(Trend[1]) == 1 ? color.lime : Trend == -1 and nz(Trend[1]) == -1 ? color.red : na
plot(Trailingsl, color = linecolor , linewidth = 2, title = "PP SuperTrend")
plot(showcl ? center : na, color = showcl ? center < hl2 ? color.blue : color.red : na)
// check and plot the signals
bsignal = Trend == 1 and Trend[1] == -1
ssignal = Trend == -1 and Trend[1] == 1
plotshape(bsignal and showlabel ? Trailingsl : na, title="Buy", text="Buy", location = location.absolute, style = shape.labelup, size = size.tiny, color = color.lime, textcolor = color.black, transp = 0)
plotshape(ssignal and showlabel ? Trailingsl : na, title="Sell", text="Sell", location = location.absolute, style = shape.labeldown, size = size.tiny, color = color.red, textcolor = color.white, transp = 0)
//get S/R levels using Pivot Points
float resistance = na
float support = na
support := pl ? pl : support[1]
resistance := ph ? ph : resistance[1]
// if enabled then show S/R levels
plot(showsr and support ? support : na, color = showsr and support ? color.lime : na, style = plot.style_circles, offset = -prd)
plot(showsr and resistance ? resistance : na, color = showsr and resistance ? color.red : na, style = plot.style_circles, offset = -prd)
// alerts
alertcondition(Trend == 1 and Trend[1] == -1, title='Buy Signal', message='Buy Signal')
alertcondition(Trend == -1 and Trend[1] == 1, title='Sell Signal', message='Sell Signal')
alertcondition(change(Trend), title='Trend Changed', message='Trend Changed')
// Open orders
if bsignal
strategy.close_all(comment="Close sell order")
strategy.entry("Long", strategy.long)
if ssignal
strategy.close_all(comment="Close buy order")
strategy.entry("Short", strategy.short)
Overview
A trailing line follows the center line, changing color based on trend direction. Buy and sell signals appear on trend changes, optionally labeled. Support and resistance levels are shown as circles if enabled. The strategy plots these on the price chart and executes trades by entering long on buy signals and short on sell signals, closing all positions on opposite signals. Inputs control the pivot period, ATR settings, and visibility of elements. No stop loss is set by default.
- pivot points center line
- supertrend trailing line
- buy sell signals
- support resistance levels
- atr bands
Details
Published by
DaniilOkrug on GitHub
Code credit
LonesomeTheBlue, as written in the script's header
Type
Strategy, Pine Script v4
Draws
On the price chart
Category
Trend, Volatility & bands, Support & resistance
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- The strategy enters trades without a stop loss
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Pivot Point Period | int | 2 | prd |
| ATR Factor | int | 3 | Factor |
| ATR Period | int | 10 | Pd |
| Show Pivot Points | bool | false | showpivot |
| Show Buy/Sell Labels | bool | true | showlabel |
| Show PP Center Line | bool | false | showcl |
| Show Support/Resistance | bool | false | showsr |
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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