Pivot Points (High/Low), also known as Bar Count Reversals, are used to anticipate potential price reversals. Pivot Point Highs are determined by the number of bars with lower highs on either side of a Pivot Point High. Pivot Point Lows are determined by the number of bars with higher lows on either side of a Pivot Point Low.

For example, a Pivot Point High, with a period of 5, requires a minimum of 11 bars to be considered a valid Pivot Point. A minimum of 5 bars before and after the Pivot Point High all have to have lower highs.

The default period is set to 10 (p=10). It means that the whole calculation are made within 11 bars (10 bars with a pivot bar on the middle of them).

(coded by request on English forum)

//PRC_PivotHiLo
//30.08.2016
//Nicolas @ www.prorealcode.com
//Sharing ProRealTime knowledge

p = 10

period = round(p/2)+1
hh = high[period]
ll = low[period]
countH = 0
countL = 0
for i = 1 to period-1 do
 if high[i]<hh then
  countH=countH+1
 endif
 if low[i]>ll then
  countL=countL+1
 endif
next
for i = period+1 to p+1 do
 if high[i]<hh then
  countH=countH+1
 endif
 if low[i]>ll then
  countL=countL+1
 endif
next

if countH=p then
 pivotH = high[period]
endif
if countL=p then
 pivotL = low[period]
endif

RETURN pivotH, pivotL