Pivot Point Supertrend

Hello All,

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 I wrote above it may keep you in the trend more, lets see an example:

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:

When you changed Pivot Point Period you can see its reaction, in following example PP period is 4 (default value is 2). Smaller PP periods more sensitive trendlines .

Alerts added for Buy/Sell entries and Trend Reversals. (when you set alerts use the option "Once Per Bar Close")

Phát hành các Ghi chú: Coding improved
Added explanation
Mã nguồn mở

Với tinh thần của TradingView, tác giả đã xuất bản tập lệnh theo mã nguồn mở, vì thế trader có thể dễ dàng hiểu và tùy chỉnh được. Bạn có thể sử dụng miễn phí, hoặc tùy chỉnh lại mã đã được cấp phép bởi Quy tắc Chung. Bạn có thể sử dụng nó trên biểu đồ.

Bạn muốn sử dụng tập lệnh này trên biểu đồ?

Bình luận

500 xu
+7 Phản hồi
@PineCoders, Thank you!
+3 Phản hồi
jrm-007 LonesomeTheBlue

Hi, great strategy and code. A simple question, can I plot these levels using a spreadsheet rather than relying on tradingview?
+13 Phản hồi
robertttme LonesomeTheBlue
@LonesomeTheBlue, Hey , how exacly does the Alerts works , lets say if ive AMC on the chart and add the indicator will give me a an alert when the supertrend apperars wiuthout me setting nothing ?
And the main question , if i change the stock from AMC to Tesla do i need to do something for the alerts again , or the alerts will sound?
Phản hồi
wow........................ thank you so much sir!!
100 xu
+1 Phản hồi
100 xu
Phản hồi
Well Done! Going to port this logic over to a python script im working on.
200 xu
Phản hồi
Can I use this for intraday trading for 15 minutes chart for accuracy?
+160 Phản hồi
@Mayank_baj, yes! I am doing that and it works great with Crypto. You need to up the period to tripple digits and you need a double digits atr factor.
+4 Phản hồi
lavventura aaronlittlefield
@aaronlittlefield, what do you mean by `period to tripple digits and you need a double digits atr factor.`?
+2 Phản hồi