Filter-Out Weak Pivot highs/lows, Swing highs/lows: Method

9 Mac 2023

Just a simple indicator for refining the standard method of finding Pivot highs & Lows; Allowing user to filter-out weak/flat/rounded Pivot highs/lows

-Aim of this is to get pivot highs & pivot lows coded to print more in line with what the eye would naturally be drawn to as an obvious pivot high/low.
-This uses local moving average around the pivot high/low together with user-input ATR multiple, to create a condition for filtering out lacklustre pivot highs/lows.
-Thought i'd publish this separately as a tool that other coders might find useful.

//inputs//
~adjust looback/lookforward for Pivot highs/lows
~adjust 'spikiness' index to filter out less impressive pivot highs/lows (higher number = more selective)

11 Mac 2023

Nota Keluaran

-added Alert conditions:
~Set manually from indicator status line (three dots)
~Will alert on sweep of most recent (freshly painted) Piv H/L
~Based on indicator settings at the time of setting the alert

18 Mac 2023

Nota Keluaran

-added alerts conditions for pivot high/low confirmed (as well as swept)
-toggle on/off 'spikeyness' condition to see how it affects pivot high/low painting (default is ON)

19 Apr 2023

Nota Keluaran

-Added 'wait one bar to confirm' condition to avoid re-painting (default is ON). Toggle this off to go back to original version where realtime confirmation happens 1 bar sooner, but at the cost of sometimes causing repainting.