Pivot Extremes Breakout — Indicator by tkarolak

I created the "Pivot Extremes Breakout" (PEB) indicator to easily spot breakout zones using pivot points. This tool comes from my need to anticipate market direction and capitalize on breakouts. PEB uses the last two pivot points to predict price paths and highlights potential breakout areas, adjusting for any timeframe. It simplifies seeing where the market might move next with color-coded lines and zones, aiming to improve your trading decisions.

Release Notes:

Added a "Show/Hide Pivots" toggle to the "Pivot Extremes Breakout" indicator settings, allowing users to choose whether to display pivot points on the chart for a cleaner view and focused analysis.

Release Notes:

Optimized Extrapolation Method: Updated the extrapolation function for pivot points, providing clearer insights into potential breakout zones.

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.

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.

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