OPEN-SOURCE SCRIPT

Pivot Pattern Boundaries [cajole]

4 601
  • This script automatically detects horizontal support / resistance levels based on user-programmable criteria.
  • For example, you can detect boundaries with >3 touches within 200 days, allowing a tolerance of 1/4*ATR.
  • "Touches" are defined from pivots on the chart. The best way to search for larger/smaller patterns is to increase/decrease the pivot size.*
  • Future versions will allow "exceptions (i.e. keep drawing the horizontal line even if it is breached once or twice).


*TradingView's Pine script defines a Pivot as the highest point in a group. So, entering "2" means that a day's high needs to be above 2 days before and after (xxYxx) to be considered a high pivot.

This script can be an aid in drawing multiple patterns with horizontal boundaries (rectangles, triangles, head and shoulders, cup & handles, VCPs). I have intentionally avoided trying to code detection of the "other side" of these patterns, as that is where the craft of charting becomes an art.

Penafian

Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.