July 26, 2021

This indicator returns pivot point high/lows alongside the percentage change between one pivot and the previous one (Δ%) and the distance between the same type of pivots in bars (Δt). The indicator also returns an estimate of the future time position of the pivot points.

This indicator returns pivot point high/lows alongside the percentage change between one pivot and the previous one (Δ%) and the distance between the same type of pivots in bars (Δt). The trailing mean for each of these metrics is returned on a dashboard on the chart.

The indicator also returns an estimate of the future time position of the pivot points.

- Length: Window size for the detection of pivot points .
- Show Forecasted Pivots: Display forecast of future pivot points .

- Dashboard Location: Location of the dashboard on the chart
- Dashboard Size: Size of the dashboard on the chart
- Text/Frame Color: Determines the color of the frame grid as well as the text color

The indicator can provide information helping the user to infer the position of future pivot points . This information is directly used in the indicator to provide such forecasting. Note that each metric is calculated relative to the same type of pivot points .

It is also common for analysts to use pivot points for the construction of various figures, getting the percentage change and distance for each pivot point can allow them to eventually filter out points of non-interest.

We use the trailing mean of the distance between respective pivots to estimate the time position of future pivot points . This can be useful to estimate the location of future tops/bottoms. The time position of the forecasted pivot is given by a vertical dashed line on the chart.

We can see a successful application of this method below:

The position in time for the forecast is given by:

*x1_ph + E[Δt]*

*x1_pl + E[Δt]*

where *x1_ph* denotes the position in time of the most recent pivot high. *x1_pl* denotes the position in time of the most recent pivot low and *E* the average distance between respective pivot points.

The indicator is available here.

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