OPEN-SOURCE SCRIPT
Marx Weekly Pivot Strategy
Marx Weekly Pivot Strategy is a price action-based system that looks for high-probability reversals at key institutional levels — the weekly pivot point (PP). It’s designed to catch early-week moves with tight risk and strong reward potential.
⸻
How It Works
• Uses the previous week’s high, low, and close to calculate the weekly pivot (PP), R1, and S1.
• Enters long when price opens below PP but reclaims and closes above it, showing bullish reversal.
• Enters short when price opens above PP but breaks and closes below, indicating bearish reversal.
• Optional RSI confirmation helps filter false signals (default: RSI > 50 for longs, < 50 for shorts).
• Take Profit is set at R1 (for longs) or S1 (for shorts), with Stop Loss on the opposite side of the pivot.
⸻
🧠 Why It Works
Institutions and professional traders often use pivot points to identify high-volume reaction zones. This strategy taps into that order flow early in the week, aiming for high reward-to-risk setups when price retests and confirms these levels.
⸻
📊 Best Used On
• Liquid markets like EUR/USD, GBP/JPY, NAS100, XAU/USD
• Intraday timeframes like 15m or 1h
• Especially effective Monday to Wednesday
⸻
⚠️ Notes
• Avoid trading during high-impact news
• Backtest with your asset before live use
• Works best with additional trend filters for volatile markets
⸻
How It Works
• Uses the previous week’s high, low, and close to calculate the weekly pivot (PP), R1, and S1.
• Enters long when price opens below PP but reclaims and closes above it, showing bullish reversal.
• Enters short when price opens above PP but breaks and closes below, indicating bearish reversal.
• Optional RSI confirmation helps filter false signals (default: RSI > 50 for longs, < 50 for shorts).
• Take Profit is set at R1 (for longs) or S1 (for shorts), with Stop Loss on the opposite side of the pivot.
⸻
🧠 Why It Works
Institutions and professional traders often use pivot points to identify high-volume reaction zones. This strategy taps into that order flow early in the week, aiming for high reward-to-risk setups when price retests and confirms these levels.
⸻
📊 Best Used On
• Liquid markets like EUR/USD, GBP/JPY, NAS100, XAU/USD
• Intraday timeframes like 15m or 1h
• Especially effective Monday to Wednesday
⸻
⚠️ Notes
• Avoid trading during high-impact news
• Backtest with your asset before live use
• Works best with additional trend filters for volatile markets
Skrip sumber terbuka
Dalam semangat sebenar TradingView, pencipta skrip ini telah menjadikannya sumber terbuka supaya pedagang dapat menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupun anda boleh menggunakannya secara percuma, ingat bahawa menerbitkan semula kod ini adalah tertakluk kepada Peraturan Dalaman kami.
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.
Skrip sumber terbuka
Dalam semangat sebenar TradingView, pencipta skrip ini telah menjadikannya sumber terbuka supaya pedagang dapat menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupun anda boleh menggunakannya secara percuma, ingat bahawa menerbitkan semula kod ini adalah tertakluk kepada Peraturan Dalaman kami.
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.