Pivot Support & Resistance

Here signals are based on the pivot high and pivot lows. Factors taken into account in understanding the breakout or breakdown are:
  • volume

candle bar is not opening candle

must be near pivot high or low

Use once candle closes else you might get trapped in certain cases so be careful
Release Notes:

Removed opening candle criteria.

added closing confirmation to avoid false breakdown breakouts

showing indicator for last 75 bars only

Release Notes:
  • Trailing stoploss
  • New trend vs trend continuation based on pivot-point
  • Entry point added
  • Maximum profit point is also added
Release Notes:
added further explanation on the chart.

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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