Pivot Hunter Pro [MOT]

25 thg 8

Pivot Hunter Pro [MOT] - Dynamic Support & Resistance

Pivot Hunter Pro is an advanced tool for identifying and tracking meaningful support and resistance levels in real-time. Unlike traditional indicators that plot static lines and quickly clutter a chart, this script uses a dynamic methodology to draw, update, and invalidate levels based on ongoing price action. The result is a cleaner, more adaptive, and relevant view of the market structure that evolves with the current trend.

The originality of this script is centered on its "level lifecycle" management system. New levels, identified via a unique price action slope analysis, are not simply plotted and forgotten; they are continuously evaluated against a set of rules for spacing, validation, and expiration. This ensures that only the most relevant support and resistance zones remain on the chart, helping traders focus on what matters now.

METHODOLOGY & CORE CONCEPTS

1. Initial Level Detection via Price Action Slope
The foundation of the script is a detection engine that analyzes the slope of recent candle highs and lows to identify market turning points. Instead of using a smoothed moving average or a fixed pivot lookback, it examines the raw structure of price action. A resistance level is identified at the peak of a series of higher highs, precisely at the point where a lower high forms, indicating a potential shift in momentum. Conversely, a support level is marked at the trough of a series of lower lows, at the exact point where a higher low occurs. This method provides the initial, raw data for potential support and resistance, which then feeds into the script's more advanced management logic.

2. Dynamic Level Management & Originality
This is the core engine of the script. Once a potential level is identified, it is subjected to a series of unique filtering and management rules that define its lifecycle on the chart.

• Internal Level Validation: Before a new major level is drawn, the script internally identifies all smaller, "temporary" swing points that have formed since the last major level. It then validates that the path beyond the new level is clear. For a breakout strategy, this is critical. A new support level will only be plotted if there are no minor support levels immediately below it. Similarly, a resistance level is only drawn if there is no minor resistance just above it. This logic is designed to ensure that when a level breaks, there is a clear path for price to travel, rather than breaking one level only to be immediately stopped by a hidden, intermediate one.
  
  This screenshot shows the script's internal validation logic. It's not plotting a new support line because it has detected several minor, intermediate levels that are too close together, which could act as reversal points and create a false breakout signal.
• Price Spacing Filter: A new level will only be drawn if it is a minimum user-defined distance away from all other existing levels. This is a crucial feature for preventing chart clutter in choppy or consolidating markets. It intelligently ignores minor, less significant turning points that form too close to already established zones.
  
  
• Level Invalidation Logic: A support or resistance line is automatically removed from the chart if the price closes beyond it for a specific number of consecutive bars (default is 3). This rule is designed to clear out broken levels that are no longer being respected by the market, keeping the analysis current.
  
  
• Level Adjustment Logic: If price pokes through a level but fails to close beyond it (e.g., a long wick creating a "false breakout"), the script doesn't immediately discard the level. Instead, it intelligently adjusts the level to the new wick high/low. This action effectively "strengthens" the zone, updating it to reflect the most current price rejection point.
  
  A before and after shot showing a level being adjusted to a higher wick
• Dominant Level Re-Scan: Levels are designed to be timely, so they expire after a set number of bars ("Clear Levels After"). When a level expires due to age, the script performs a lookback over that entire window to identify the single most significant, "dominant" high or low from that period and plots it as a new level. This ensures the chart adapts to the most powerful swing points over time.
  

3. Breakout Signal Generation The script generates simple breakout signals to alert traders when a level is breached with conviction.

• Condition: A signal is triggered when the high of a candle crosses above a resistance level or the low of a candle crosses below a support level.
  
  
• Breakout Buffer: To reduce false signals from minor breaches, a user-defined "Buffer" (in points) must be cleared. The price must move beyond the level by this extra amount for the signal to be considered valid, indicating stronger momentum.
  

A clear breakout signal label appearing after price has decisively crossed a resistance line plus the visible buffer zone.

FEATURES & CUSTOMIZATION

• Level Management: Control the "Clear Levels After" window to define how long levels persist and the "Minimum Level Spacing" to adjust the indicator's sensitivity.
  
  
• Visual Styling: Full customization of line colors, width, and the size, color, and positioning of price labels.
  
  
• Breakout Signals: Enable or disable breakout signal labels, configure the breakout buffer distance, and choose from a variety of preset icons (or custom text).
  
  
• Backtest Mode: An option to keep all historical signals and labels visible on the chart for strategy review and use with TradingView's Bar Replay feature.
  

The script's settings panel, showing the various customization options available.]

ALERTS

The script includes two alert conditions that can be configured in the TradingView "Alerts" panel for real-time notifications.

• Pivot Hunter Pro — Break UP: Triggers when the price breaks above a resistance level plus the buffer.
  
  
• Pivot Hunter Pro — Break DOWN: Triggers when the price breaks below a support level minus the buffer.
  

HOW TO USE & BEST PRACTICES

• Interpreting Levels: Treat the plotted lines as key decision zones. As price approaches a resistance level, look for signs of rejection for a potential short, or consolidation for a potential breakout. The opposite is true for support levels.
  
  
• Breakout Confirmation: The breakout signals are a starting point. For higher probability trades, confirm a breakout signal with other factors, such as a significant increase in volume or a candlestick pattern that supports the move.
  
  
• Timeframe: The indicator is most effective on intraday charts (e.g., 1-minute to 15-minute) where multiple swing points develop throughout a session. On very high timeframes, fewer levels will be generated.
  
  
• Markets: Works best on assets that exhibit clear swing structures and respect technical levels, such as major indices, forex pairs, and high-volume stocks. It may be less effective in very low-volatility or choppy markets.
  
  
• Adjusting Sensitivity: In volatile markets, increase the "Minimum Level Spacing" to filter out more noise. In quieter markets, you can decrease it to detect more subtle levels.
  

⚠️ Disclaimer
This script is an analytical tool and does not provide financial advice. All trading involves risk. Past performance is not indicative of future results. Please conduct your own analysis before making any trading decisions. The creators are not responsible for any financial losses.

27 thg 8

Phát hành các Ghi chú

Release Update V1.5
- Line logic updates

27 thg 8

Phát hành các Ghi chú

Release Update V1.6
- Fixed line disappearing / reappearing on max bar limit

3 thg 9

Phát hành các Ghi chú

Release Update V1.7
- Signals can now trigger on the 3rd bar after price breaks a line.
- Added an ATR-based buffer for smarter entries that adapt to market volatility.
- Clear-after setting is now in minutes instead of bars, so it automatically adjusts to your chosen timeframe—no manual recalculation needed.

8 thg 9

Phát hành các Ghi chú

- Small line logic changes to avoid lines from disappearing too soon.
- Def Val for spacing now set to 25

8 thg 9

Phát hành các Ghi chú

Minor level logic updates to fix 5m timeframe issues.

15 thg 9

Phát hành các Ghi chú

Release v1.8
- New ATR spacing toggle
- Visual ATR table with dynamic color alerts
- High-volume candle chart visualization
- Optimized line generation

Hôm kia

Phát hành các Ghi chú

Release Update v2.0

What’s new
- Potential entry line now plots and auto-clears when the entry fills or the setup is invalidated.
- Auto ATR spacing for NQ/MNQ: keep ATR spacing enabled and it will switch between ATR spacing and standard 25-point spacing automatically.

Alerts
- Added High-Volume and ATR color-flip (red → green) alerts.
- Anti-spam logic: these alerts only fire if they’ve been false for the last 10 bars; signal alerts require no signal for the last 5 bars before triggering. This is just for the alerts / notifications not for the actual plotted signals.

Signal logic
- Removed the old cooldown and improved the core signaling logic.

Customization
- New input to set the Low ATR threshold for color-change alerts per symbol.