OPEN-SOURCE SCRIPT
Updated XAUUSD Power @ Strict Pivot S/R
This indicator identifies who is in control (buyers or sellers) when price reaches key support and resistance zones, defined using strict pivot points.
How it works
Automatically plots support and resistance using confirmed pivots.
Analyzes candle structure:
candle direction (bullish / bearish)
body size
wick dominance
A signal is shown only when:
price is near support or resistance (ATR-based filter)
there is clear buying or selling strength
Signals appear only after the candle closes (no repaint).
Signals
🔺 Green triangle → buyers gain control at support
🔻 Red triangle → sellers gain control at resistance
Best use
Scalping / intraday trading
Recommended timeframe: 5-minute
Works well on volatile markets such as XAUUSD, US30, NASDAQ
Important
Confirmation tool, not a prediction system
Not an automated trading strategy
Should be used with proper risk management
How it works
Automatically plots support and resistance using confirmed pivots.
Analyzes candle structure:
candle direction (bullish / bearish)
body size
wick dominance
A signal is shown only when:
price is near support or resistance (ATR-based filter)
there is clear buying or selling strength
Signals appear only after the candle closes (no repaint).
Signals
🔺 Green triangle → buyers gain control at support
🔻 Red triangle → sellers gain control at resistance
Best use
Scalping / intraday trading
Recommended timeframe: 5-minute
Works well on volatile markets such as XAUUSD, US30, NASDAQ
Important
Confirmation tool, not a prediction system
Not an automated trading strategy
Should be used with proper risk management
Release Notes
This indicator identifies who is in control (buyers or sellers) when price reaches key support and resistance zones, defined using strict pivot points.How it works
Automatically plots support and resistance using confirmed pivots.
Analyzes candle structure:
candle direction (bullish / bearish)
body size
wick dominance
A signal is shown only when:
price is near support or resistance (ATR-based filter)
there is clear buying or selling strength
Signals appear only after the candle closes (no repaint).
Signals
🔺 Green triangle → buyers gain control at support
🔻 Red triangle → sellers gain control at resistance
Best use
Scalping / intraday trading
Recommended timeframe: 5-minute
Works well on volatile markets such as XAUUSD, US30, NASDAQ
Important
Confirmation tool, not a prediction system
Not an automated trading strategy
Should be used with proper risk management
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.