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Fontiramisu

Pivot-Based Channels & Bands [Misu]

Fontiramisu  
Pivot points and levels Bands and Channels Support and Resistance supportandresistancezones channelline band channeltrend bands pivotstrategy support resistances breakout
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pivotpointsandlevels bandsandchannels supportandresistance supportandresistancezones channelline band channeltrend bands pivotstrategy support resistances breakout
█ This Indicator is based on Pivot detection to show bands and channels.

The pivot price is similar to a resistance or support level. If the pivot level is breached, the price should continue in that direction. Or the price could reverse at or near this level.

█ Usages:
  • Use channels as a support & resistance zone.
  • Use bands as a support & resistance zone. It is also very powerfull to use it as a breakout.
  • Use mid bands & mid channels as a trend direction or trade filter as a more usual moving average.

snapshot

█ Parameters:
  • Show Pivot Bands: show bands.
  • Show Pivot Mid Band: show mid bands.
  • Show Pivot Channels: show channels.
  • Show Pivot Mid Channel: show mid channels.
  • Deviation: deviation used to calculate pivot points.
  • Depth: depth used to calculate pivot points.
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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