THIS IS A BETA AND ONLY TO BE USED FOR TESTING PURPOSES
Upgraded Beta Version of the Aroon Pivots Beta.
PLEASE READ BELOW OF THE USAGE OF PIVOTS
Whats new in 2.0?
- Updated to a new Script: This is for two reasons (1) there have been some overall changed to the weaker signals to make then stronger and felt it was changed enough to differentiate and be able for beta testers to compare side by side, and (2) some users have had issues using the script and getting an error, which this hopefully fixes.
- Improved accuracy for the "weak" signals
- Color coded "strong" and "week signals and now renamed to set them apart as "SP" and "WP" respectively.
- Added confluence to signals to help improve all timeframes.
This script is the beta version of the Aroon Pivots for testing purposes and is not intended to be used in real trading.
========= AROON PIVOTS =========
The purpose of this script is to use the power of the Aroon Lines to determine when trends or portions of a trend have reached a certain level of exhaustion, which in turn can help discover pivot points or reversals. Aroon Lines (the Up and Down lines) are measures of time that compare previous highs and lows, as well as opens and closes, which when compared can give insight on a possible incoming trading move. Aroon is one of the few indications that was designed for this purpose to show possible moves instead of historic data.
========= HOW TO USE =========
It's fairly simple, but small labels are created that show when entry or exit is at its closing peak. Labels can be used to enter as a maximum opportunity in addition to minimal risk, while simultaneously can be used to close an already open position for maximum closing results.
========= ADDITIONAL NOTES =======
- Labels are printed when the criteria is met, however, the labels are not fully realized until candle close.
- Labels are not repainted.
- Labels are specific to their relative timeframe, so its expected that a lower timeframe pivot will not expand into a high timeframe label, especially is the labels are giving opposite pivots .
Upgraded Beta Version of the Aroon Pivots Beta.
PLEASE READ BELOW OF THE USAGE OF PIVOTS
Whats new in 2.0?
- Updated to a new Script: This is for two reasons (1) there have been some overall changed to the weaker signals to make then stronger and felt it was changed enough to differentiate and be able for beta testers to compare side by side, and (2) some users have had issues using the script and getting an error, which this hopefully fixes.
- Improved accuracy for the "weak" signals
- Color coded "strong" and "week signals and now renamed to set them apart as "SP" and "WP" respectively.
- Added confluence to signals to help improve all timeframes.
This script is the beta version of the Aroon Pivots for testing purposes and is not intended to be used in real trading.
========= AROON PIVOTS =========
The purpose of this script is to use the power of the Aroon Lines to determine when trends or portions of a trend have reached a certain level of exhaustion, which in turn can help discover pivot points or reversals. Aroon Lines (the Up and Down lines) are measures of time that compare previous highs and lows, as well as opens and closes, which when compared can give insight on a possible incoming trading move. Aroon is one of the few indications that was designed for this purpose to show possible moves instead of historic data.
========= HOW TO USE =========
It's fairly simple, but small labels are created that show when entry or exit is at its closing peak. Labels can be used to enter as a maximum opportunity in addition to minimal risk, while simultaneously can be used to close an already open position for maximum closing results.
========= ADDITIONAL NOTES =======
- Labels are printed when the criteria is met, however, the labels are not fully realized until candle close.
- Labels are not repainted.
- Labels are specific to their relative timeframe, so its expected that a lower timeframe pivot will not expand into a high timeframe label, especially is the labels are giving opposite pivots .