LonesomeTheBlue

Pivot Trend

Hello Traders,

Another original idea is here with you. Actualy I can say that it's a breakout strategy that uses multiple Pivot Point's averages.

How it works?
- it finds the Pivot Points , you can set the length as you want
- it gets averages of Pivot Highs and Pivot Lows, you can set the number of Pivot Points to be included
- it compares the current closing price with averages of Pivot Highs and Pivot Lows
- if both are positive or negative then trend changes

You have two options:
- Pivot Point Period => is the length that is used to find Pivot Points . means it checks left/right bars if it's Pivot Point (4 by default)
- Number of PP to check => is the number of Pivot Points that the script finds and calculates the averages (3 by default)

An Example with the settings Pivot Point Period = 5 and Number of PP to check = 2


Play with settings as you wish. Comments are welcome, together we can improve it ;)


Enjoy!


Release Notes: Added Alerts.
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Comments

please does it repaints?
Reply
I didn't see a strategy version of this so I published one called Pivot Trend Strategy.
Thanks for sharing your idea with us LonesomeTheBlue
Reply
Hello, should the alert (trend changed) fire as soon as the trend changes? Because I used it on GBPCHF and the trend changed around 1:30AM but I didn't get an alert until 2:30AM saying that the trend has changed and by then it was too late. Can you advise if this is a bug or?
Reply
LonesomeTheBlue Jumbolemming
@Jumbolemming, interesting, there is no lag in the script. maybe buy in TV, not sure
+1 Reply
Jumbolemming LonesomeTheBlue
@LonesomeTheBlue, I have and it's still producing alerts later than it should. Can you please look into it? Am I right in thinking I need to use the alert mode 'Pivot Trend UP' & 'Pivot Trend DOWN' to signal buy/sell positions? Thanks
Reply
Nvidia4 Jumbolemming
@Jumbolemming, - He is correct. No lag.
Reply
Hi,

How can I add this script to my MT4 chart. Please advise
Reply
Did anyone do a strategy version of this?
+1 Reply
@Jittra,
I just published a strategy called pivot trend strategy
Reply
@kdougowens, you don't have permission for it
Reply
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