148 lines
4.2 KiB
Markdown
148 lines
4.2 KiB
Markdown
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> Name
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Pivot-Based-Trailing-Maxima-Minima
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> Author
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ChaoZhang
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> Strategy Description
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This indicator returns trailing maximums/minimums and their average resetting at the occurrence of a pivot point high/low, thus allowing the highlighting of past and current support and resistance levels.
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Settings
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Length: Determines the pivot high/low lookback, with higher values allowing to detect longer term tops and bottoms.
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Usage
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snapshot
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The indicator can highlight points of support and resistances - these are points where price bounced of the average line. These points can eventually be used to draw trendlines .
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snapshot
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The trailing maximum/minimum and their average extends to the most recent bar, allowing real time applications of the indicator.
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Additionally, users can easily analyze past trends and determine their type by observing the trailing maximum/minimum behavior. For example, trailing maximums/minimums not making new higher high/lower low would indicate a ranging market.
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snapshot
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The frequency of new higher high/lower low can also help determine how bullish / bearish a trend was.
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**backtest**
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> Strategy Arguments
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|Argument|Default|Description|
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|----|----|----|
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|v_input_int_1|14|length|
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|v_input_color_1|teal|(?Style)Trailing Maximum Color|
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|v_input_color_2|red|Trailing Minimum Color|
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|v_input_color_3|#ff5d00|Trailing Maximum Color|
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|v_input_color_4|teal|Uptrend Area|
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|v_input_color_5|red|Downtrend Area|
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> Source (PineScript)
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``` javascript
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/*backtest
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start: 2022-02-24 00:00:00
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end: 2022-05-23 23:59:00
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period: 1d
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basePeriod: 1h
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exchanges: [{"eid":"Futures_Binance","currency":"BTC_USDT"}]
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*/
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// This work is licensed under a Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0) https://creativecommons.org/licenses/by-nc-sa/4.0/
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// © LuxAlgo
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//@version=5
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indicator("Pivot Based Trailing Maxima & Minima [LUX]",overlay=true,max_bars_back=500,max_lines_count=500)
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length = input.int(14,minval=2,maxval=500)
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max_color = input.color(color.teal,'Trailing Maximum Color',group='Style')
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min_color = input.color(color.red,'Trailing Minimum Color',group='Style')
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avg_color = input.color(#ff5d00,'Trailing Maximum Color',group='Style')
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bull_fill = input.color(color.new(color.teal,80),'Uptrend Area',group='Style')
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bear_fill = input.color(color.new(color.red,80),'Downtrend Area',group='Style')
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//----
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var max = 0.
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var min = 0.
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ph = ta.pivothigh(length,length)
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pl = ta.pivotlow(length,length)
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if ph or pl
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max := high[length]
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min := low[length]
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max := math.max(high[length],max)
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min := math.min(low[length],min)
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avg = math.avg(max,min)
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//----
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plot1 = plot(max,'Trailing Maximum',ph or pl ? na : max_color,1,plot.style_linebr,offset=-length)
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plot2 = plot(min,'Trailing Minimum',ph or pl ? na : min_color,1,plot.style_linebr,offset=-length)
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fill_css = fixnan(ph ? bear_fill : pl ? bull_fill : na)
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fill(plot1,plot2,ph or pl ? na : fill_css)
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plot(avg,'Average',ph or pl ? na : avg_color,1,plot.style_linebr,offset=-length)
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plotshape(pl ? pl : na,"Pivot High",shape.labelup,location.absolute,max_color,-length,text="▲",textcolor=color.white,size=size.tiny)
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plotshape(ph ? ph : na,"Pivot Low",shape.labeldown,location.absolute,min_color,-length,text="▼",textcolor=color.white,size=size.tiny)
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// //----
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// n = bar_index
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// max_prev = max
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// min_prev = min
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// avg_prev = avg
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// max2 = max
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// min2 = min
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// if barstate.islast
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// for line_object in line.all
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// line.delete(line_object)
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// for i = 0 to length-1
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// max2 := math.max(high[length-1-i],max_prev)
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// min2 := math.min(low[length-1-i],min_prev)
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// avg2 = math.avg(max2,min2)
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// line1 = line.new(n-(length-i),max_prev,n-(length-1-i),max2,color=max_color)
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// line2 = line.new(n-(length-i),min_prev,n-(length-1-i),min2,color=min_color)
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// linefill.new(line1,line2,color.new(fill_css,80))
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// line.new(n-(length-i),avg_prev,n-(length-1-i),avg2,color=avg_color)
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// max_prev := max2
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// min_prev := min2
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// avg_prev := avg2
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if pl
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strategy.entry("Enter Long", strategy.long)
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else if ph
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strategy.entry("Enter Short", strategy.short)
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```
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> Detail
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https://www.fmz.com/strategy/365719
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> Last Modified
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2022-05-25 18:18:49
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