Pivot Points + Day First Candle Breakout + VWAP + Supertrend

The Pivot Points + Day First Candle Breakout + VWAP + Supertrend indicator is a comprehensive technical analysis tool that integrates multiple trading strategies and visual aids to assist in trend identification and breakout confirmation. It combines the Opening Range Breakout (ORB) concept with foundational indicators like VWAP, Supertrend, and Pivot Points to provide a holistic view of market dynamics across multiple timeframes.

Usage

The tool is designed for day traders and trend followers who require a unified dashboard for their technical setup.

• Opening Range Breakout (ORB): The script identifies the high and low of the first trading candle (selectable timeframe: 5m, 15m, 60m, etc.). A breakout above the high suggests bullish momentum, while a break below the low suggests bearish momentum.
• Trend Confirmation: Use the Supertrend and VWAP to confirm the direction of the trade. For example, a buy signal is stronger if price breaks the ORB high while trading above the VWAP and supported by a green Supertrend.
• Support & Resistance: Pivot Points (both LTF and HTF) provide automated horizontal levels for potential targets or stop-loss placements.
• Market Context: The script tracks Previous Day/Week Highs and Lows, as well as 52-week extremes, coloring candles to highlight historical strength or weakness.

Details

The script utilizes multi-timeframe analysis to calculate Pivot Points and Opening Ranges. It refines the raw data through several modules:

• Dynamic Pivot Points: Derived from Fibonacci ratios applied to previous period ranges to find institutional support/resistance.
• Trend Strength Analysis: Integrates three exponential moving averages (EMAs) and a Supertrend calculation based on Average True Range (ATR).
• Dashboard Table: A multi-timeframe table tracks RSI and MACD status across up to seven different timeframes, allowing users to see the "big picture" without switching charts.

Settings

• Show Indicators: Toggle visibility for ORB, VWAP, Supertrend, Pivot Points, and Candle Coloring.
• Exponential Moving Averages: Adjust the lengths (default 9, 21, 50) and sources for three separate EMAs.
• Opening Range Breakout: Select the specific candle timeframe (e.g., 15m) and the number of days to average for the range calculation.
• Supertrend: Customize the ATR period and multiplier factor for trend sensitivity.
• Pivot Points: Configure Fibonacci ratios (F1-F5) and the timeframes for both Lower (LTF) and Higher (HTF) pivot levels.
• RSI & MACD Table: Select timeframes for the MTF dashboard and adjust RSI thresholds (Upper/Lower) for pullback detection.

FAQ

How do I interpret the buy and sell signals? A primary buy signal is often considered when the price exceeds the high of the initial trading range. Conversely, a sell signal occurs when price falls below the range low. These should be filtered using the Supertrend and VWAP indicators.

What is the significance of the 52-week High/Low levels? These levels indicate long-term trend exhaustion or strength. Candle coloring shifts when price approaches these extremes to warn of potential institutional interest.

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