Pivot Points High Low (With confirm bar)

The Pivot Points High Low (With confirm bar) indicator identifies significant price peaks and troughs while providing immediate visual feedback on exactly when these levels are confirmed. This tool is designed to help traders recognize structural market turning points and the specific bar that validates their formation.

Usage

The indicator displays labels on confirmed pivot highs and lows. Because pivot points require a specific number of bars to the right to be completed, they are inherently lagging. To address this, the script places a visual "confirmation circle" on the current bar as soon as the pivot condition is met.

• Pivot High Labels: Appear above price peaks when a high is surrounded by lower highs on both sides.
• Pivot Low Labels: Appear below price troughs when a low is surrounded by higher lows on both sides.
• Confirmation Circles: These small circles appear on the bar where the "Right Length" requirement is satisfied, showing exactly when the pivot was recognized by the script.
• Dashed Projections: Dotted lines connect the original pivot point to the confirmation bar, providing a clear visual link between the structural high/low and the moment of confirmation.

Details

The script utilizes the ta.pivothigh() and ta.pivotlow() functions. A pivot is defined by two primary parameters:

1. Left Length: The number of preceding bars that must be lower (for a high) or higher (for a low).
2. Right Length: The number of following bars that must be lower (for a high) or higher (for a low) to confirm the pivot.

The "Confirm Bar" feature is particularly useful for discretionary traders who need to know exactly how much price action has occurred since a structural point was formed. By marking the confirmation bar, the script highlights the delay inherent in the look-right period.

Settings

LENGTH LEFT / RIGHT

• Pivot High (Left/Right): Defines the number of bars required to the left and right of a high to qualify it as a pivot.
• Pivot Low (Left/Right): Defines the number of bars required to the left and right of a low to qualify it as a pivot.

Text Color / Label Color

• Pivot High Color: Sets the color for the pivot high label and its corresponding confirmation circle.
• Pivot Low Color: Sets the color for the pivot low label and its corresponding confirmation circle.

FAQ

How do I use the confirmation bar?

The confirmation bar (marked with a small circle) shows you exactly when the pivot point was detected. Since pivots require "Right Length" bars to form, the confirmation bar will always appear several bars after the actual high or low occurred.

Can I change the sensitivity of the pivots?

Yes, by increasing the Left and Right Length settings, you will filter for more significant, long-term pivots. Decreasing these values will identify more frequent, short-term price fluctuations.

How do I access Pivot Points High Low (With confirm bar)?

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