Pivot Trendlines and ATR-Based Risk Controls for Breakout Trading

Summary

This script builds a trendline-based trading framework from confirmed pivot highs and lows. It stores pivot points, draws candidate lines and nearby liquidity zones, and uses subsequent price action to assess whether a line remains valid. An optional higher-timeframe EMA filter allows long trades only when price is above a rising EMA and short trades only when price is below a falling EMA. ATR inputs define stop-loss and take-profit distances.

The available document contains only part of the source code, ending during the upper-line logic. It does not include a readable description of complete entry and exit rules, nor any backtest results or discussion of observed performance. The visible settings include pivot lookback, zone padding, higher-timeframe EMA options, and ATR stop and target multipliers. These details support understanding the design, but the excerpt is insufficient to assess signal behavior, execution assumptions, or whether the strategy is profitable.

Key ideas

• The script identifies pivot highs and lows and uses them to construct candidate trendlines and adjacent zones.
• An optional higher-timeframe EMA and its slope can filter trades by trend direction.
• ATR values are included for setting stop-loss and take-profit distances.
• The available source ends before the complete trading logic is shown, so entry and exit behavior cannot be fully assessed.
• No backtest results or evidence of profitability are provided.

Tags

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