Pivot Points identifies shifts from bullish to bearish or vice versa by scanning the last 100 candles by default. Buy lines appear in blue and sell lines in red, with options for dashed or dotted styles and adjustable widths. Lines extend leftward until a higher high or lower low breaks them, highlighting potential reversals or trend continuations. It draws directly on the chart and works on any timeframe. Recommended setup includes a line chart, candlestick chart, SMA filter, and RSI for confirmation. Lines are drawn at candle close levels and can be toggled on or off.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Number of candles to draw lines on
int
100
lastSetOfCandles
Draw Buy Line
bool
true
drawBuyLine
Buy Line Color
color
color.blue
buyLineColor
Line Style
string
Dashed
buyLineStyle
Buy Line Width
int
1
buyLineWidth
Draw Sell Line
bool
true
drawSellLine
Sell Line Color
color
color.red
sellLineColor
Line Style
string
Dashed
sellLineStyle
Sell Line Width
int
1
sellLineWidth
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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