Pivot points trend for automatic trading

• 08/07/2021 at 9:35 PM #174884
  eckaw

  Hi all

  I’m looking to integrate pivot points as a trend filter in my algo trading and I haven’t yet managed to find out best take advantage of this.

  looking at Vonasi’s sentiment analysis:

  https://www.prorealcode.com/prorealtime-indicators/pivot-line-analysis-market-sentiment-candle/

  Anyone got any ideas on how to successfully implement this in an automatic strategy in order to filter our bullish / bearish trends and avoid ranging markets? I’ve tried Vonasis code but struggling to get good results.

  I’m hoping it could work as a universal trend indicator along different markets without needing to optimise parameters which may cause further overfitting. Is that a viable approach?

  My idea is to use this on a higher timeframe (e.I. 1h or 4h) and use lower time for entry points based on momentum indicators, in the direction of the trend and to avoid ranging markets.

   

  

  eckaw

  Participant

  Topics: 13

  Replies: 118

  Been thanked: 61 times
  08/08/2021 at 10:45 AM #174917
  robertogozzi

  This one will enter when the indicator (embedded into the strategy, instead of calling it and using only the Trending code, UP and DOWN) signals an UP or DOWN condition + CLOSE crosses a SMA (either UPwards or DOWNwards) and it may reverse:

  DEFPARAM CumulateOrders = FALSE H1 = High[0]//High L1 = Low[0]//Low C = Close[0]//Close HH1 = High[1]//High LL1 = Low[1]//Low CC = Close[1]//Close Pivot1 = (HH1 + LL1 + CC) / 3 R11 = 2*((HH1 + LL1 + CC) / 3)- LL1 S11 = 2*((HH1 + LL1 + CC) / 3)- HH1 Pivot = (H1 + L1 + C) / 3 R1 = 2*((H1 + L1 + C) / 3)- L1 S1 = 2*((H1 + L1 + C) / 3)- H1 Flag = 0 //Up Pivot IF R1 > R11 and S1 > S11 THEN Flag = 1 ENDIF //Down Pivot IF R1 < R11 and S1 < S11 THEN Flag = -1 ENDIF //////////////////////////////////////////////////// LongCond = close > average[200,0](close) AND Not LongOnMarket AND Flag = 1 ShortCond = close < average[200,0](close) AND Not ShortOnMarket AND Flag = -1 //////////////////////////////////////////////////// IF LongCond THEN BUY AT Market ELSIF ShortCond THEN SELLSHORT AT Market ENDIF SET STOP pLOSS 100 SET TARGET pPROFIT 300

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33

  DEFPARAM CumulateOrders = FALSE H1      = High[0]//High L1      = Low[0]//Low C       = Close[0]//Close HH1     = High[1]//High LL1     = Low[1]//Low CC      = Close[1]//Close Pivot1  = (HH1 + LL1 + CC) / 3 R11     = 2*((HH1 + LL1 + CC) / 3)- LL1 S11     = 2*((HH1 + LL1 + CC) / 3)- HH1 Pivot   = (H1 + L1 + C) / 3 R1      = 2*((H1 + L1 + C) / 3)- L1 S1      = 2*((H1 + L1 + C) / 3)- H1 Flag    = 0 //Up Pivot IF R1 > R11 and S1 > S11 THEN    Flag = 1 ENDIF //Down Pivot IF R1 < R11 and S1 < S11 THEN    Flag = -1 ENDIF //////////////////////////////////////////////////// LongCond  = close > average[200,0](close) AND Not LongOnMarket  AND Flag = 1 ShortCond = close < average[200,0](close) AND Not ShortOnMarket AND Flag = -1 //////////////////////////////////////////////////// IF LongCond THEN    BUY AT Market ELSIF ShortCond THEN    SELLSHORT AT Market ENDIF SET STOP   pLOSS   100 SET TARGET pPROFIT 300

  3 users thanked author for this post.

  Midlanddave, eckaw

  

  robertogozzi

  Moderator

  Topics: 69

  Replies: 16472

  Been thanked: 3643 times
• Author
  Posts