Pivot & Source Cross Strategy

3 ngày trước

Pivot & ZoneCross Strategy V2

A powerful trading script combining Pivot Points, Retracement Zones, and Dynamic Stop-Loss Management. Suitable for beginners and advanced traders.

Introduction
This script enables traders to leverage Pivot Points and retracement zones for precise entry and exit points. Using price crossover detection and customizable stop-loss management, it offers a structured approach to trading various market conditions.

Features

• Pivot Point Calculations: Select between Classic or Fibonacci methods for precise support and resistance levels.
  
• Zone-Based Entry Signals: Identify price crossovers with retracement levels for optimal trade timing.
  
• Customizable Stop-Loss Management: Automatically adjusts stop-loss levels to secure profits or limit losses.
  
• Support for Market or Limit Orders: Choose instant market execution or specific limit entry points.
  
• Flexible Inputs for Sources: Use Source First and Source Second to integrate external indicators like RSI and RSI MA, providing advanced customization options.
  
• Visualization of Key Levels: Easily track retracement zones, Pivot Points, and stop-loss levels directly on the chart.
  
• Configurable Conditions: Tailor entry/exit logic for your trading style.
  

How to Set Up

1. Choose Your Higher Timeframe (TIMEFRAME):
   This determines the Pivot Points and retracement levels.
   Example: Use “D” for daily pivots while trading on lower timeframes.
   
   []Select Entry Zone Patterns:
   Define the pattern for detecting retracement levels:
   xxx: Minor levels (steps of 10).
   xx0: Intermediate levels (steps of 50).
   x00: Major levels (steps of 100).
   
2. Set Entry Conditions for Long and Short Trades:
   Activate or deactivate up/down conditions for xxx, xx0, or x00 patterns. Specify the count and range of crosses required for valid signals.
   
   
3. Configure Source Inputs (Source First and Source Second):
   Assign external indicators such as RSI and RSI MA to refine entry conditions.
   Tip: Adjust RSI settings in its separate indicator to suit your needs.
   
   
4. Select Your Order Type:
   Choose between Market orders for instant execution or Limit orders for precision entries. Adjust offset zones for limit orders.
   
   []Set Up Stop-Loss Management:
   Use dynamic stop-loss patterns with adjustable offsets:
   HL: Stop-loss uses high/low levels of the zone.
   Close: Stop-loss uses the closing price.
   
5. Customize Visualization Options:
   Enable or disable xxx, xx0, x00, or 0 levels for cleaner charts. Adjust the display of retracement levels and stop-loss lines.
   
   
6. Apply and Monitor:
   Attach the script to your chart, monitor entry/exit signals, and adjust parameters as needed.
   

How It Works

• Calculates Pivot Points based on the chosen method (Classic or Fibonacci).
  
• Detects price crossovers with retracement zones to identify potential entry points.
  
• Dynamically adjusts stop-loss levels based on retracement zones and stop-loss patterns.
  
• Supports both market and limit orders with customizable offsets for precise entries.
  
• Allows integration of external sources like RSI for enhanced signal precision.
  

Important Notes

• Use Source First and Source Second to input external indicators like RSI. You can configure RSI settings in its separate indicator to refine signals further.
  
• Always test and optimize parameters before live trading.
  
• Combine this script with your own analysis and proper risk management strategies.
  

This script is a tool to assist trading decisions but does not guarantee profits. Always trade responsibly.

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Pivot & Source Cross Strategy

This trading strategy combines pivot points with external crossover signals to automate entries. It uses a higher timeframe’s pivot calculations, dividing them into multiple sub-levels (zones) to identify potential areas of support and resistance. By observing how price interacts with these zone lines, and by confirming signals through an external crossover (e.g., RSI vs. RSI MA or MACD vs. MACD Signal), the strategy determines when to go long or short.

The strategy steps:

1. Calculate pivot points on a higher timeframe (e.g., Daily).
   
2. Divide these pivot points into zones at various intervals: *** (fine steps, e.g. every 10 units), **0 (medium steps, e.g. every 50 units), and 00 (large steps, e.g. every 100 units).
   
3. Track how often price moves across these zones to gauge market bias.
   
4. Add an external signal (for example, RSI crossing above its MA) to confirm entries.
   
5. If all conditions align, entries are executed either as market or limit orders, with stop-losses placed at calculated zone offsets.
   

Explanation of Pivot Zones:
The script calculates several pivot levels: R3, R2, R1, Base, S1, S2, S3. Between these main levels, multiple minor zone lines are plotted. The base pivot (0) is solid; large steps (*00) are solid lines representing main supports and resistances; medium steps (**0) are dashed lines offering mid-level references; and fine steps (***), drawn as dotted lines, fill the gaps in between. This creates a detailed grid that helps visualize where the price may pause, reverse, or accelerate.

Description of Inputs:
These inputs allow you to customize the strategy’s behavior, from which zones to display, to how entries and stops are placed, to what external signals are used.

• HIGHER TIMEFRAME: The timeframe on which pivot points are calculated.
  
• SHOW 00, SHOW **0, SHOW **: Toggle visibility of the various zone lines.
  
• UP/DOWN Colors: Set different colors for upward (resistance) and downward (support) zones.
  
• ROUNDING: Round pivot calculations to a specified increment.
  
• STEPSIZE: Defines the base step size for *** zones (e.g. 10 units).
  
• DO LONG / DO SHORT: Enable or disable taking long or short trades.
  
• ENTRY TYPE: Choose between market orders or limit orders at specific zone offsets.
  
• ENTRY OFFSET & ENTRY PATTERN: Determine how far away (in zones) limit entries are placed and which pattern (**, **0, 00) is used.
  
• LONG OFFSET / SHORT OFFSET: Specify how many zones away the stop-loss should be placed from the entry.
  
• STOP LOSS SOURCE & STOP LOSS PATTERN: Decide how the stop-loss is calculated (e.g., from the close or high/low) and which zone pattern is used for stop-loss placement.
  
• FIRST / SECOND Source: The pair of data series (e.g., RSI and RSI MA, or MACD and MACD Signal) used to produce external crossover signals.
  
• Cross Conditions (UP/DO on XXX, XX0, X00): Set how many up/down crosses over these zones must occur before triggering an entry.
  

Example Recipes:

RSI-Based Long Setup (Weekly Pivots & 4H RSI Signal)
This configuration calculates pivots on a weekly timeframe and combines them with a bullish RSI signal sourced from a 4-hour chart. The strategy looks for multiple upward crosses on the fine-level zones (***), as well as downward crosses on major zones (*00), ensuring that the price has demonstrated strength by moving through detailed resistance structures before entering a long position.

Settings:

• []HIGHER TIMEFRAME = W
  []DO LONG = true
  []DO SHORT = false
  []SRC1 = RSI(14), SRC2 = RSI MA(9), TF=4H
  []Entry - Long Conditions: Up *** = true, C = 3, A = 3
  []Entry - Long Conditions: Do *00 = true, C = 2, A = 3
  

MACD-Based Short Setup (Weekly Pivots & 4H MACD Signal)
This configuration also relies on weekly pivots, but uses a bearish MACD crossing on a 4-hour chart to signal a short entry. To confirm this downward bias, the strategy watches for zone crosses that indicate price weakness—such as failing to break above fine-level (***) lines or sustaining downward crosses over *00 lines—thus confirming broader market pessimism before entering short.

Settings:

• []HIGHER TIMEFRAME = W
  []DO LONG = false
  []DO SHORT = true
  []SRC1 = MACD, SRC2 = MACD Signal, TF=4H
  []Entry - Short Conditions: Up *** = true, C = 3, A = 3
  []Entry - Short Conditions: Do *00 = true, C = 2, A = 3
  

I am always interested in new recipes! If you discover valuable combinations, feel free to share them so we can learn and improve together.

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