PROTECTED SOURCE SCRIPT
PivotIQ
PivotIQ - Intelligent Support & Resistance Detection
This indicator identifies dynamic support and resistance levels using a proprietary multi-layered detection system that combines swing point analysis with intelligent level validation.
HOW IT WORKS:
Detection Method:
- Uses configurable swing detection to identify potential pivot points at local highs and lows
- Implements a dual-tolerance system: broader tolerance for initial level identification, and much tighter tolerance for level reinforcement
- Tracks temporal spacing between swing occurrences to distinguish between genuine re-tests and noise
Level Validation:
- Employs a strength-scoring system that increases when price returns to test a level under strict criteria
- Requires minimum time/bar distance between touches to prevent false positives from consecutive candles
- Automatically clusters nearby swing points to prevent redundant levels while maintaining precision
Auto-Invalidation:
- Monitors price wicks for penetration through levels
- Removes invalidated levels after a configurable grace period (default 2 bars)
- Keeps only the most relevant levels based on proximity to current price
Visual Intelligence:
- Color codes resistance (above price) and support (below price)
- Optionally highlights high-confidence levels (multiple successful tests) with custom colors and thicker lines
- Displays exact price values via labels with adjustable positioning
CONFIGURATION OPTIONS:
Detection Parameters:
- Swing Detection Length (1-10): Controls sensitivity to price swings
- Price Clustering Tolerance %: Prevents duplicate nearby levels
- Multi-Touch Tolerance %: Stricter threshold for reinforcing existing levels
- Minimum Bars Between Touches: Time-based filter to prevent false multi-touch signals
- Max Pivots Per Side (2-8): Limits display to N most relevant levels above/below price
Visual Customization:
- Separate colors for resistance, support, and high-confidence levels
- Adjustable line width, transparency, and label sizes
- Custom invalidated level styling
WHAT MAKES IT UNIQUE:
Unlike standard pivot indicators that use fixed formulas (floor pivots, Fibonacci, Camarilla), PivotIQ dynamically adapts to actual price action through:
1. Time-weighted level validation (not just price proximity)
2. Dual-tolerance clustering system (loose for grouping, tight for reinforcement)
3. Automatic level lifecycle management (creation, validation, invalidation)
4. Intelligence-based level prioritization (keeps strongest, closest levels)
IDEAL FOR:
- All markets (stocks, futures, forex, crypto)
- All timeframes (1-minute to daily)
- Day trading, swing trading, and scalping
- Traders seeking clean, adaptive support/resistance without manual drawing
The indicator maintains a clean chart by intelligently managing which levels are displayed, automatically removing broken levels, and prioritizing the most actionable zones based on current price position and historical validation.
This indicator identifies dynamic support and resistance levels using a proprietary multi-layered detection system that combines swing point analysis with intelligent level validation.
HOW IT WORKS:
Detection Method:
- Uses configurable swing detection to identify potential pivot points at local highs and lows
- Implements a dual-tolerance system: broader tolerance for initial level identification, and much tighter tolerance for level reinforcement
- Tracks temporal spacing between swing occurrences to distinguish between genuine re-tests and noise
Level Validation:
- Employs a strength-scoring system that increases when price returns to test a level under strict criteria
- Requires minimum time/bar distance between touches to prevent false positives from consecutive candles
- Automatically clusters nearby swing points to prevent redundant levels while maintaining precision
Auto-Invalidation:
- Monitors price wicks for penetration through levels
- Removes invalidated levels after a configurable grace period (default 2 bars)
- Keeps only the most relevant levels based on proximity to current price
Visual Intelligence:
- Color codes resistance (above price) and support (below price)
- Optionally highlights high-confidence levels (multiple successful tests) with custom colors and thicker lines
- Displays exact price values via labels with adjustable positioning
CONFIGURATION OPTIONS:
Detection Parameters:
- Swing Detection Length (1-10): Controls sensitivity to price swings
- Price Clustering Tolerance %: Prevents duplicate nearby levels
- Multi-Touch Tolerance %: Stricter threshold for reinforcing existing levels
- Minimum Bars Between Touches: Time-based filter to prevent false multi-touch signals
- Max Pivots Per Side (2-8): Limits display to N most relevant levels above/below price
Visual Customization:
- Separate colors for resistance, support, and high-confidence levels
- Adjustable line width, transparency, and label sizes
- Custom invalidated level styling
WHAT MAKES IT UNIQUE:
Unlike standard pivot indicators that use fixed formulas (floor pivots, Fibonacci, Camarilla), PivotIQ dynamically adapts to actual price action through:
1. Time-weighted level validation (not just price proximity)
2. Dual-tolerance clustering system (loose for grouping, tight for reinforcement)
3. Automatic level lifecycle management (creation, validation, invalidation)
4. Intelligence-based level prioritization (keeps strongest, closest levels)
IDEAL FOR:
- All markets (stocks, futures, forex, crypto)
- All timeframes (1-minute to daily)
- Day trading, swing trading, and scalping
- Traders seeking clean, adaptive support/resistance without manual drawing
The indicator maintains a clean chart by intelligently managing which levels are displayed, automatically removing broken levels, and prioritizing the most actionable zones based on current price position and historical validation.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.