Pivot Breakout Strategy with Monthly Benchmark Return Tables

Summary

This script combines a pivot-based entry strategy with a table intended to report monthly and yearly returns alongside a benchmark. It identifies pivot highs and lows using configurable bars on either side, then places stop entries just beyond the most recent pivot level. The script plots those levels and tracks strategy equity as well as the benchmark’s price series; the benchmark can use the current chart symbol or a selected symbol.

Monthly and yearly performance are accumulated by compounding bar returns, with a configurable start date determining when tracking begins. The visible code sets a 25% equity order size and a commission assumption, but the supplied document is truncated before the table-building and display logic is complete. It gives no backtest results or evidence that the pivot entries are profitable. Pivot confirmation uses bars to the right, so signals depend on later bars confirming a pivot; readers should account for timing and execution assumptions when evaluating the method.

Key ideas

• The strategy places stop entries just beyond confirmed pivot highs and lows.
• Pivot confirmation uses configurable bars on both the left and right of a candidate turning point.
• The script compounds strategy equity returns into monthly and yearly figures and computes comparable benchmark returns.
• The benchmark may be the chart symbol or a separately selected symbol.
• The supplied document is incomplete and reports no performance results, so it cannot establish the strategy’s effectiveness.

Tags

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