Clean Pivot Lines with Alerts

The Clean Pivot Lines with Alerts indicator detects and monitors untouched pivot highs and lows to provide clean support and resistance levels. It automatically manages these levels by removing them upon price violations and offers real-time alerts for breaks and sweeps.

Usage

The Usage section describes how the script can be used to identify key market levels that have not yet been tested by price action. Users can adjust the pivot length and lookback window to find significant structural points across different timeframes.

• Identifying Support/Resistance: Use the horizontal lines as potential zones for price reversals or breakout opportunities.
• Monitoring Breaks vs. Sweeps: The tool distinguishes between a "Break" (a candle close beyond the level) and a "Sweep" (a wick breach that fails to close beyond the level), allowing for nuanced strategic decisions.
• Historical Analysis: Enable historical lines to see where previous levels were violated, providing context for recent price movements.

Details

The script utilizes pivot detection logic with a configurable lookback window to filter out "contaminated" levels that have already been breached before they could be plotted. It maintains active levels in dynamic arrays, performing periodic housekeeping every 10 bars to ensure chart hygiene. For traders analyzing higher timeframes, the script supports a timeframe override feature using security requests to plot HTF pivots on lower-frequency charts.

Settings

Pivot Detection Settings

• Pivot Timeframe: Sets the timeframe for pivot calculation. Leave empty to use the current chart timeframe.
• Pivot Length: The number of bars required on each side of a high or low to confirm a pivot.
• Lookback for Clean Check: The number of bars to check prior to the pivot to ensure the level hasn't been previously violated.

Pivot Line Appearance

• High/Low Line Color: Customizes the colors for resistance and support lines.
• Line Width/Style: Adjusts the visual weight and pattern (Solid, Dashed, Dotted) of the active levels.

Alerts

• Enable Alerts: Toggles on-chain notifications for new pivot detections and level violations.

Historical Lines

• Show Historical Lines: Displays levels for a short duration after they have been triggered/broken.
• Number of Bars to Keep: Determines how long historical lines remain visible on the chart.
• Break/Sweep Color: Sets specific colors for historical lines based on the type of violation.

FAQ

How do I access Clean Pivot Lines with Alerts?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.

Why do the lines appear several bars after a high or low?

Pivot lines require a "Pivot Length" of bars to confirm that the high or low is indeed a local extreme. This lag is a standard part of pivot calculation logic.

Can I use this for Multi-Timeframe (MTF) analysis?

Yes, by using the "Pivot Timeframe" setting, you can plot pivots from higher timeframes (like Daily or Weekly) directly onto your intraday charts.