Pivot Structure, Support and Resistance, and Trend Signals

Summary

This open-source script builds a market-structure indicator and strategy around pivot highs and lows. It uses configurable left and right bar windows to identify swing points, then compares successive pivots to label higher highs, higher lows, lower highs, and lower lows. The script tracks support and resistance levels from these structures and updates a directional trend state when price crosses those levels. Inputs also include chopiness and ATR settings, trade amount, a minimum profit threshold, and chart display options.

The supplied document is only a partial source listing: it ends during the support and resistance logic, so the complete entry and exit rules cannot be confirmed. It provides no explanatory discussion, market, test period, or performance report. Pivot identification also depends on later bars to confirm a swing, which can delay usable signals; any apparent placement on the pivot bar should not be mistaken for information available at that time. The script offers a technical framework to inspect, but the excerpt is insufficient to assess its trading behavior or results.

Key ideas

• The script identifies swing highs and lows using configurable bars on both sides of a candidate pivot.
• It classifies pivot sequences as higher highs, higher lows, lower highs, or lower lows.
• It derives support and resistance levels from selected pivot structures and tracks trend direction around those levels.
• The source excerpt ends before the full strategy rules are visible, and it includes no performance evidence.
• Pivot confirmation requires subsequent bars, which can make signals lag.

Tags

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