Floor-Trader Pivot Breakout Strategy with Selectable Support and Resistance Levels

Summary

This strategy calculates a central floor-trader pivot and three support and resistance levels from high, low, and close data at a selectable resolution, with daily data as the default. Users choose which support and resistance levels govern the signals. A close above the selected resistance sets a long position; a close below the selected support sets a short position. Between those thresholds, the previous position is retained, and an optional setting reverses the direction. The script colors bars according to its resulting position state.

The document explains the pivot formula family and provides source code, but reports no backtest results or evidence that the rules are profitable. It does not describe position sizing, protective stops, transaction costs, or market-specific behavior. Because the levels depend on resolution-based price data and the script is presented for educational use, the results should be evaluated with careful attention to how that data is aligned and how the strategy would execute in practice.

Key ideas

• The central pivot is the average of the selected period’s high, low, and close.
• Three support and resistance levels are derived from that pivot and the period range.
• A close beyond the selected resistance or support sets a directional position.
• The position persists between the selected thresholds, and an option reverses signals.
• The document gives no performance results or execution-cost analysis.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.