Pivot Indicator for Identifying Recent Highs and Lows

Summary

This document introduces a pivot indicator that uses high and low prices together with left- and right-strength parameters. It describes locating local lows and highs within a rolling window whose size depends on those settings, then comparing how recently the two pivot types occurred. The resulting signal is coded as one of two directional values according to which pivot is more recent.

The page repeats the indicator description and includes pseudocode, but portions of the displayed logic are damaged or incomplete. A cleaner repeated version clarifies the equality checks against the right-strength value, yet the referenced explanation and graphical example are not available in the supplied text. No trading rules, backtest results, or evidence of predictive value are given. Because a pivot requires observations on both sides, its practical use may involve confirmation delay; the document does not discuss that limitation or specify suitable parameter choices.

Key ideas

• The indicator accepts high and low prices plus left- and right-strength settings.
• It identifies local highs and lows over a parameter-defined window.
• Its directional output compares the recency of the latest high and low pivots.
• The displayed pseudocode contains damaged sections, and the page provides no performance evidence.
• Pivot confirmation can require later bars, a timing issue the document does not address.

Tags

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