This trend-following strategy executes a classic Donchian channel breakout system designed to cross-validate backtest results against external framework benchmarks. It triggers a long entry when the closing price breaks above the highest high of the prior entr
Strategy · Pine Script v6 · On the chart
Pivot Reversal Strategy
A strategy that trades breaks of swing points.
GitHub stars1on the repository
Pine versionv6current
Lines of code21
Settings2inputs
LicenceNone stated
Last update1 year ago1 Mar 2025
Add It to Your TradingView Chart
- 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 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
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
Pivot Reversal Strategy detects pivot highs and pivot lows using left and right bar counts, then places a long stop order one tick above the latest pivot high and a short stop order one tick below the latest pivot low. A pending order stays active until price trades through its level. There is no separate stop loss or take profit, so positions are reversed by the opposite signal.
- Pivot high and pivot low detection
- Stop entries one tick beyond the pivot
- Left and right bar count settings
- Position reversal instead of fixed exits
Details
Published by
ivansoft on GitHub
Type
Strategy, Pine Script v6
Draws
On the price chart
Category
Breakout, Support & resistance
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- The strategy enters trades without a stop loss
Topics
pinescripttradingvew
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| leftBars | int | 4 | leftBars |
| rightBars | int | 2 | rightBars |
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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