OPEN-SOURCE SCRIPT
Pivot Points High Low & Missed Reversal Levels [LuxAlgo]

Pivot Points High/Low, sometimes referred to as "Bar Count Reversals" allows highlighting market prices local tops and bottoms. This method compares the price value at a certain index within a user-specified window length and tests whether it is the highest (pivot high) or lowest (pivot low).
This method can return successive pivots of the same type, thus missing certain reversals, as such, we aimed to highlight those missed reversals and provide a level at their location to determine if they had any significant role to play. A zig-zag is additionally built, connecting regular pivots with missed reversals.
Settings
Other settings control the look of the displayed graphical elements within the indicator.
Usage

Missed reversals are highlighted by labels with a ghost emoji, a Zig-Zag line connecting a missed reversal is dashed. Note that labels are offset by -Pivot Length bars (with the exception of the most recent one), and as such are detected further ahead of their location.
When a missed reversal is detected, a level is displayed, starting at the location of the missed reversal and ending when a new missed reversal is detected.
These levels can be used as support and resistance.
The most recent label estimates the possible location of a confirmed reversal, and will continuously readjust whether price makes a new higher high/lower low depending on the type of previously detected pivot. A level is also made out of this estimated reversal.
This method can return successive pivots of the same type, thus missing certain reversals, as such, we aimed to highlight those missed reversals and provide a level at their location to determine if they had any significant role to play. A zig-zag is additionally built, connecting regular pivots with missed reversals.
Settings
- Pivot Length: Determine the "Bar Count Reversals" window size. higher values will highlight more significant reversals.
Other settings control the look of the displayed graphical elements within the indicator.
Usage
Missed reversals are highlighted by labels with a ghost emoji, a Zig-Zag line connecting a missed reversal is dashed. Note that labels are offset by -Pivot Length bars (with the exception of the most recent one), and as such are detected further ahead of their location.
When a missed reversal is detected, a level is displayed, starting at the location of the missed reversal and ending when a new missed reversal is detected.
These levels can be used as support and resistance.
The most recent label estimates the possible location of a confirmed reversal, and will continuously readjust whether price makes a new higher high/lower low depending on the type of previously detected pivot. A level is also made out of this estimated reversal.
發行說明
Minor changes.開源腳本
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Join our 150k+ community: discord.gg/lux
All content provided by LuxAlgo is for informational & educational purposes only. Past performance does not guarantee future results.
Join our 150k+ community: discord.gg/lux
All content provided by LuxAlgo is for informational & educational purposes only. Past performance does not guarantee future results.
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
開源腳本
本著TradingView的真正精神,此腳本的創建者將其開源,以便交易者可以查看和驗證其功能。向作者致敬!雖然您可以免費使用它,但請記住,重新發佈程式碼必須遵守我們的網站規則。
Get access to our exclusive tools: luxalgo.com
Join our 150k+ community: discord.gg/lux
All content provided by LuxAlgo is for informational & educational purposes only. Past performance does not guarantee future results.
Join our 150k+ community: discord.gg/lux
All content provided by LuxAlgo is for informational & educational purposes only. Past performance does not guarantee future results.
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。