QuantNomad

QuantNomad - Significant Pivot Reversal Strategy

I'm working on improving the Pivot Points Reversal Strategy.
As one of the ways to filter out insignificant levels I decided to check that pivot point is not above/below neighbors, but check that it's above/below at least by a certain amount.
I use ATR, so in params, you can set length of ATR and also ATR multiplier. The new level will be calculated only if PP will be above/below neighbors by atr * atr_mult.
It seems this approach might help in some cases.

Here I have PivotPoint + RSI strategy:

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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Comments

hey, how to make an alert so when its long or short it notify us?
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Published alerts for this strategy:
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lanjunyi QuantNomad
@QuantNomad, tks very much for you good work. i want to know the detail meaning of " leftBars = input(4, title = 'PP Left Bars')
rightBars = input(2, title = 'PP Right Bars')", what is the meaning of leftbars and rightbars, can you show me the script. tks so much.
+1 Reply
QuantNomad lanjunyi
@lanjunyi, for Pivot high for example it indicates how many bars from the left and from the right should have lower highs then current candle's high. If that is true this bar will be marked as pivot high.
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lanjunyi QuantNomad
@QuantNomad, tks very much, i know your said. tks
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will it work in 1 minute interval for bank nifty
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QuantNomad scsubudhi
@scsubudhi, Hey dude, code is open you can check that yourself.
+1 Reply
scsubudhi QuantNomad
@QuantNomad, thanks sir
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can i apply it
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