Better Pivot Points [LuminoAlgo]

<b>Overview</b>
The Better Pivot Points indicator is an advanced trend analysis tool that combines Supertrend methodology with automated pivot point identification and zigzag visualization. This indicator helps traders identify significant price turning points and visualize market structure through dynamic pivot labeling and connecting lines.

<b>How It Works</b>
This indicator utilizes a Supertrend-based algorithm to detect meaningful pivot points in price action. Unlike traditional pivot point indicators that rely on fixed time periods, this tool dynamically identifies pivots based on trend changes, providing more relevant and timely signals.

The algorithm tracks trend changes using ATR-based Supertrend crossovers to determine when significant highs and lows have formed. When a trend reversal is detected, the indicator marks the pivot point and draws connecting lines to visualize price flow and market structure progression.

<b>Key Features</b>
• <b>Dynamic Pivot Detection</b>: Automatically identifies high and low pivot points using Supertrend crossovers
• <b>Market Structure Labeling</b>: Labels pivots as HH (Higher High), LH (Lower High), HL (Higher Low), or LL (Lower Low)
• <b>Zigzag Visualization</b>: Connects pivot points with customizable lines to clearly show price flow and market structure
• <b>Color-Coded Analysis</b>: Uses distinct colors to indicate bullish trends (green), bearish trends (red), and neutral conditions (yellow)
• <b>Customizable Parameters</b>: Adjustable ATR period, factor, line width, and line style

<b>Input Settings</b>
• <b>ATR Length</b>: Controls the sensitivity of the Supertrend calculation (default: 21)
• <b>Factor</b>: Multiplier for the ATR-based Supertrend bands (default: 2.0)
• <b>Zigzag Line Width</b>: Customize the thickness of connecting lines (1-4)
• <b>Zigzag Line Style</b>: Choose between Solid, Dashed, or Dotted line styles

<b>What Makes This Original</b>
This indicator combines several analytical concepts into a cohesive tool that differentiates it from standard pivot point indicators:

1. Uses Supertrend crossovers as the trigger for pivot detection rather than traditional high/low lookback periods
2. Automatically categorizes market structure using HH/LH/HL/LL labeling system based on pivot relationships
3. Provides real-time zigzag visualization with intelligent color coding that reflects trend direction
4. Integrates trend direction analysis with structural pivot identification in a single comprehensive tool

The underlying calculations use custom logic for tracking trend states, validating pivot points, and determining appropriate color coding based on market structure analysis.

<b>How to Use</b>
1. <b>Trend Identification</b>: Green lines indicate bullish market structure, red lines show bearish structure, yellow indicates transitional periods
2. <b>Support/Resistance</b>: Pivot points often act as future support and resistance levels for price action
3. <b>Market Structure Analysis</b>: HH and HL patterns suggest uptrends, while LH and LL patterns indicate downtrends
4. <b>Entry/Exit Planning</b>: Use pivot points and trend changes to plan potential trade entries and exits

<b>Important Limitations and Warnings</b>
• This indicator is a technical analysis tool and should not be used as the sole basis for trading decisions
• Pivot points are identified after price moves occur, meaning this indicator has inherent lag and cannot predict future pivots
• False signals can occur during ranging or choppy market conditions where trends are unclear
• Past performance of any indicator does not guarantee future results or trading success
• The indicator works best in clearly trending markets and may produce less reliable signals in sideways price action
• This tool requires interpretation and should be combined with other forms of analysis
• Always use proper risk management and position sizing strategies when trading

<b>Why This Script Is Protected</b>
This indicator uses proprietary algorithms for pivot detection timing, trend state management, and market structure analysis that represent original research and development. The specific logic for pivot validation, color-coding methodology, and structural relationship calculations contains unique approaches that differentiate it from standard pivot point indicators available in the public library.

<b>Disclaimer</b>
This indicator is for educational and analysis purposes only and does not constitute investment advice. Trading involves substantial risk and is not suitable for all investors. Past results are not indicative of future performance. The future is fundamentally unknowable and past results in no way guarantee future performance. Always conduct your own research and consider your risk tolerance before making any trading decisions.