Pivot High Low Points

The Pivot High Low Points indicator identifies significant swing points in price action by detecting local maxima and minima based on a user-defined lookback and lookforward period. This tool is essential for traders looking to objectively identify support and resistance levels, trend reversals, or chart patterns.

Usage

The Usage section focuses on how the script identifies key turning points in the market. By monitoring the relationship between current and historical price action, the tool highlights structural highs and lows.

• Trend Identification: Consecutive higher pivot highs and higher pivot lows can indicate an uptrend, while lower pivot highs and lower pivot lows suggest a downtrend.
• Support & Resistance: Pivot points often act as horizontal levels where price may find floor or ceiling liquidity in the future.
• Pattern Recognition: These points serve as the foundation for drawing trendlines, channels, and Fibonacci retracements.

Details

The script operates similarly to the native TradingView pivothigh and pivotlow functions. A pivot high is confirmed when a bar's high is the highest within a window of $X$ bars to the left and $Y$ bars to the right. Because the script requires "Right Bars" to confirm a pivot, the shapes are plotted with an offset, appearing on the chart after the confirmation bar has closed. This ensures the point identified is a true local peak or trough relative to its surroundings.

Settings

• Left Bars: The number of bars to the left of the potential pivot point that must have lower highs (for pivot highs) or higher lows (for pivot lows).
• Right Bars: The number of bars to the right of the potential pivot point required to confirm the peak or trough. Increasing this value increases the reliability of the pivot but also increases the lag.

FAQ

How do I access the Pivot High Low Points indicator? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.

Why are the shapes plotted several bars back? The indicator requires a specific number of "Right Bars" to close to confirm that a price point is indeed a pivot. Once those bars close, the indicator plots the shape on the actual high/low bar.

Can I use this for automated alerts? Yes, the script includes built-in alert conditions that trigger as soon as a Pivot High or Pivot Low is confirmed by the price action.