LonesomeTheBlue

Pivot Point Supertrend

Hello All,

There are many types of SuperTrend around. Recently I thought about a Supertrend based on Pivot Points then I wrote "Pivot Point SuperTrend" script. It looks it has better performance on keeping you in the trend more.

The idea is behind this script is finding pivot point , calculating average of them and like in supertrend creating higher/lower bands by ATR. As you can see in the algorithm the script gives weigth to past pivot points , this is done for smoothing it a bit.


As I wrote above it may keep you in the trend more, lets see an example:

As an option the script can show main center line and I realized that when you are in a position, this line can be used as early exit points. (maybe half of the position size)

While using Pivot Points , I added support resistance lines by using Pivot Point , as an option the script can show S/R lines:

And also it can show Pivot Points:

When you changed Pivot Point Period you can see its reaction, in following example PP period is 4 (default value is 2). Smaller PP periods more sensitive trendlines .

Alerts added for Buy/Sell entries and Trend Reversals. (when you set alerts use the option "Once Per Bar Close")



ENJOY!
Note di rilascio: Coding improved
Added explanation
Script open-source

Nello spirito di condivisione promosso da TradingView, l'autore (al quale vanno i nostri ringraziamenti) ha deciso di pubblicare questo script in modalità open-source, così che chiunque possa comprenderlo e testarlo. Puoi utilizzarlo gratuitamente, ma il riutilizzo del codice è subordinato al rispetto del Regolamento. Per aggiungerlo al grafico, mettilo tra i preferiti.

Vuoi usare questo script sui tuoi grafici?

Commenti

500 coin
+7 Rispondi
@PineCoders, Thank you!
+3 Rispondi
jrm-007 LonesomeTheBlue
@LonesomeTheBlue,

Hi, great strategy and code. A simple question, can I plot these levels using a spreadsheet rather than relying on tradingview?
+13 Rispondi
robertttme LonesomeTheBlue
@LonesomeTheBlue, Hey , how exacly does the Alerts works , lets say if ive AMC on the chart and add the indicator will give me a an alert when the supertrend apperars wiuthout me setting nothing ?
And the main question , if i change the stock from AMC to Tesla do i need to do something for the alerts again , or the alerts will sound?
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wow........................ thank you so much sir!!
100 coin
+1 Rispondi
100 coin
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Well Done! Going to port this logic over to a python script im working on.
200 coin
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Can I use this for intraday trading for 15 minutes chart for accuracy?
+159 Rispondi
@Mayank_baj, yes! I am doing that and it works great with Crypto. You need to up the period to tripple digits and you need a double digits atr factor.
+4 Rispondi
lavventura aaronlittlefield
@aaronlittlefield, what do you mean by `period to tripple digits and you need a double digits atr factor.`?
+2 Rispondi