Filtering Pivot Breakout Entries with SuperTrend Direction
Summary
This strategy combines confirmed pivot highs and lows with SuperTrend direction to define stop entries. After a pivot is detected, the script tracks its price and can place a long order just above a pivot high when the SuperTrend condition permits, or a short order just below a pivot low under the opposite condition. The user can allow long trades, short trades, or both. A percentage-based stop is calculated from the pivot level, and positions may also be closed when the trend direction changes.
The script exposes pivot lookback settings and SuperTrend ATR length and factor, along with trade direction and stop size. The accompanying description argues that trend filtering may screen some countertrend pivot signals, and suggests the approach for volatile crypto markets. It shows example chart references but gives no quantified backtest results or comparative evidence. Pivot confirmation can arrive after the turning point, while the supplied code and defaults do not establish robustness, execution quality, or suitability for live trading.
Key ideas
- Pivot highs and lows supply candidate levels for stop-entry orders.
- SuperTrend direction acts as a filter on whether long or short entries are allowed.
- The strategy supports long-only, short-only, and two-sided operation.
- A percentage stop is placed relative to the pivot level, with additional closing logic tied to trend direction.
- The document offers no measured evidence that the strategy is profitable or robust.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.