[blackcat] L2 Sylvain Vervoort SVE Pivots

19 Jul 2022

Level 2

Background

Sylvain Vervoort’s articles in the May issues on 2018,“The V-Trade, Part 3: Technical Analysis—Fibonacci Projections And Daily Pivots”

Function

Sylvain Vervoort, in his May 2018 STOCKS & COMMODITIES article, “The V-Trade, Part 3: Technical Analysis—Fibonacci Projections And Daily Pivots,” introduces a modified version of the venerable floor trader pivots that he calls SvePivots. With his new SvePivots, he identifies additional support & resistance levels beyond the standard calculations. These include mid-levels between the between normal support & resistance as well as prior day highs and lows.

Remarks
you can customize 'res' parameter in setting to setup pivots' reference time frame.
Feedbacks are appreciated.

19 jam lalu

Nota Keluaran

OVERVIEW
The [blackcat] L2 Sylvain Vervoort SVE Pivots indicator is designed to help traders identify key support and resistance levels based on daily price action. This script calculates various pivotal points and plots them on the chart, providing a clear visual representation of potential reversal zones. By analyzing these levels, traders can make informed decisions about entry and exit points 📈💹.

FEATURES

Calculates and plots multiple pivotal levels:
Pivot Point (PP)
Resistance Levels (R1, R2, R3) with midpoints
Support Levels (S1, S2, S3) with midpoints
Yesterday’s High and Low prices
Uses customizable colors for each level to enhance visualization 🎨
Supports different timeframes via the Resolution parameter ⏳
Provides clear labels for all plotted levels for easy identification 🏷️
HOW TO USE

Add the indicator to your TradingView chart by selecting it from the indicators list.
Adjust the Resolution parameter to match your preferred timeframe (e.g., Daily, Weekly).
Observe the plotted lines representing support and resistance levels on the chart.
Use these levels as reference points for potential buy/sell opportunities or stop-loss/take-profit targets.
LIMITATIONS

The indicator relies heavily on historical price data, which may not always predict future movements accurately.
Some levels might be less effective in highly volatile or trending markets 🌪️.
Users should combine this indicator with other forms of analysis for more reliable trading decisions.
NOTES

Ensure that you have sufficient historical data available for accurate calculations.
Test the indicator thoroughly on demo accounts before applying it to live trading 🔍.
Customize the appearance and parameters as needed to fit your trading strategy.