Candle based indicator that shows swing highs and lows (pivots). It draws an up or down arrow for simple three candle 'single' swings. For stronger five candle 'double' swings, it colours the candle. Good for highlighting stronger reversals. Both of these stylings can be toggled on/off individually. Default colours Swing HIGH on an UP candle: bright...
Its' new version of previously published Kozlod - Pivot Reversal Strategy Alerts Indicator now better correspond to original strategy. However, there can be some differences. Problem is that it's pretty tricky to implement in plain PineScript same "stop" logic used in strategy.entry of the original script
Study with alerts for "Pivot Reversal Strategy".
Reaction Point Method is based on the concept of Pivot Points that can be used to identify a reversal. These reversals can be tracked for further action. Ideally this method is useful for Intraday play and gives defined opportunity to the traders.