This code snippet demonstrates how to use pivot points as a trading strategy in the ProBuilder language. Pivot points are used to determine potential support and resistance levels. The script identifies conditions under which to enter buy or sell trades based on these pivot points.

DEFPARAM CumulateOrders = False
SL = 200 * PipSize
TP = SL * 3
N = 5
PP = (DHigh(1) + DLow(1) + DClose(1))/3 //PP calculation

// Res1 = summation[N](close <= PP) = N
Res2 = summation[N](high >= PP)
Res = Res1 AND Res2

// Sup1 = summation[N](close >= PP) = N
Sup2 = summation[N](low <= PP)
Sup = Sup1 AND Sup2

IF Sup AND Not LongOnMarket THEN
    BUY 1 CONTRACT AT MARKET
ELSIF Res AND Not ShortOnMarket THEN
    SELLSHORT 1 CONTRACT AT MARKET
ENDIF

// SET TARGET pPROFIT TP
// SET STOP pLOSS SL

// GraphOnPrice PP AS "Pivot" coloured("Fuchsia",255)
GraphOnPrice TradePrice AS "TradePrice" coloured("Cyan",255)

Explanation of the Code:

• Parameter Settings: Orders are not cumulated, and stop loss (SL) and take profit (TP) levels are set based on pip size.
• Pivot Point Calculation: The pivot point (PP) is calculated as the average of the previous day's high, low, and close prices.
• Resistance Conditions: Two conditions are checked over the past N days: whether the close was below the PP (Res1) and whether the high was above the PP (Res2). A trade signal for selling is generated if both conditions are true.
• Support Conditions: Similarly, it checks if the close was above the PP (Sup1) and the low was below the PP (Sup2) over the past N days. A buy signal is issued if both conditions hold true.
• Trade Execution: The script executes a buy order if there is support and no existing long position, or a sell order if there is resistance and no existing short position.
• Graphical Representation: The pivot point and the trade price are graphically represented on the price chart for visual reference.

This snippet is a practical example of how to implement a basic pivot point trading strategy using conditional logic and graphical elements in ProBuilder.