Long Breakouts and Exits Using Recent Pivot Highs and Lows
Summary
This chart strategy identifies swing highs and lows with pivot calculations using configurable left and right bar counts. It enters a long position when the close rises above the prior pivot high, then closes all positions when the close falls below the prior pivot low. A selectable date window limits when entries and exits are active, and the script also plots pivot levels, colors bars by their relation to those levels, and defines alert conditions for breakouts and breakdowns.
The accompanying description says the method is most effective during trends, but the document provides no performance statistics, market selection, or comparison against alternatives. The script configures full-equity sizing and zero commission, so its strategy report may not reflect realistic costs or risk. It is long-only in the active rules; a possible short entry appears only as a commented line.
Key ideas
- A close above the previous confirmed pivot high triggers a long entry.
- A close below the previous pivot low closes open positions.
- Pivot confirmation uses configurable bars on both sides of a candidate high or low.
- A date range can restrict the period during which the strategy operates.
- The document offers no quantified evidence that the method performs well.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.