Pivot point Supertrend

v10.3
Pivot point Supertrend

The Pivot point Supertrend uses the high/low pivot points (same as fractals) to calculate the Supertrend levels and therefore create a trend following / trailing stoploss indicator. This code was converted from pinescript version following a request in the indicator forum section (author: Lonesome TheBlue, all credits to him).

There are many types of SuperTrend around. Recently I thought about a Supertrend based on Pivot Points then I wrote “Pivot Point SuperTrend” script. It looks it has better performance on keeping you in the trend more.

The idea is behind this script is finding pivot point , calculating average of them and like in supertrend creating higher/lower bands by ATR. As you can see in the algorithm the script gives weigth to past pivot points , this is done for smoothing it a bit.

As an option the script can show main center line and I realized that when you are in a position, this line can be used as early exit points. (maybe half of the position size).

While using Pivot Points , I added support resistance lines by using Pivot Point , as an option the script can show S/R lines.

And also it can show Pivot Points.

(author description).

 

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No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

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  1. Vivien René • 14 hours ago #

    Bonjour nicolas, y a t il un moyen de te contacter pour discuter avec toi ? Je te remercie

    • Nicolas • 25 mins ago #

      Le forum est fait pour ça, posez y vos questions. Pour l’assistance privé merci d’utiliser le formulaire de cette page: https://www.prorealcode.com/trading-programming-services/

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