Pivot Buy and Sell Any Crypto Anytime

The ACW PIVOT REVERSAL v3 indicator identifies potential trend reversals by monitoring price breakouts above or below established pivot high and low points.

Usage

The Usage section focuses on identifying shifts in market momentum through visual signals on the chart.

• Long Signals: Occur when the current price breaks above the most recent pivot high. These are indicated by a green "LONG" label and an upward-pointing triangle.
• Short Signals: Occur when the current price breaks below the most recent pivot low. These are indicated by a red "SHORT" label and a downward-pointing triangle.

Traders typically use these signals to enter new trends or exit existing positions when a reversal is confirmed by a price crossover of a previous structural extreme.

Details

The script functions by calculating "Pivot Highs" and "Pivot Lows" based on a specified number of bars to the left and right of a candle.

1. Pivot Detection: It identifies local tops and bottoms where the price is higher or lower than its neighbors.
2. Breakout Confirmation: Instead of signaling exactly at the pivot point, the indicator waits for the price to cross the horizontal level established by that pivot.
3. Signal Filtering: To prevent repetitive signaling, the script tracks the previous signal direction and only generates a new alert when the bias flips (e.g., it will not show multiple Long signals in a row without an intervening Short).

Settings

• Left Bars: Determines the number of bars to the left of a candle that must be lower (for highs) or higher (for lows) to qualify as a pivot.
• Right Bars: Determines the number of bars to the right that must confirm the pivot point. Increasing this value increases the lag but improves the reliability of the pivot structure.

FAQ

How do I use the signals?

Signals are displayed as "LONG" and "SHORT" labels. A Long label suggests a bullish breakout from a previous high, while a Short label suggests a bearish breakdown from a previous low.

What does the "Left Bars" setting change?

The Left Bars setting defines the historical lookback required to establish a peak or trough. A higher number ensures that the pivot represents a more significant structural point.

Where 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.