Pivot Breakout Strategy with Monthly Benchmark and Alpha Tables

Summary

This script combines a pivot based entry system with a monthly and yearly performance dashboard. It tracks recent pivot highs and lows, then places stop entries just above a confirmed high or below a confirmed low. Position size is set as a share of equity, and the strategy includes a stated commission assumption. The document does not report backtest results for this entry method.

The dashboard compounds bar returns into calendar month and year figures from a configurable start date. It can compare the strategy with either the chart symbol or a separately selected benchmark, then display the difference as alpha. Color gradients distinguish positive and negative performance. The benchmark and alpha displays can be toggled. These tables summarize historical returns; they do not establish risk adjusted performance or predictive value. Pivot confirmation uses bars on both sides of a turning point, so signals require confirmation and their timing depends on chart bars. The code listing is truncated, limiting review of the complete implementation.

Key ideas

• The strategy places stop entries around detected pivot highs and lows.
• Monthly and yearly returns are compounded from bar level equity changes.
• The benchmark can use the current symbol or a selected comparison symbol.
• Alpha is calculated as the difference between strategy and benchmark returns for each period.
• The document provides no performance results or risk adjusted evaluation.

Tags

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