Pivot Points
Classic support/resistance levels calculated from the high/low/close of the previous candle. Pivot Points are computed from the High, Low, and Close prices of the previous session. The central pivot (PP) is the average of the three prices. Resistance levels (R1, R2, R3) and support levels (S1, S2, S3) are built around it. Widely used by stock, forex, and futures traders to determine intraday targets.
Formula:
PP = (High + Low + Close) / 3R1 = 2*PP - Low, S1 = 2*PP - HighR2 = PP + (High - Low), S2 = PP - (High - Low)R3 = High + 2*(PP - Low), S3 = Low - 2*(High - PP)Triggers
Section titled “Triggers”| Trigger | Direction | Condition | Description |
|---|---|---|---|
| Upper band cross | 🔴 Sell | The closing price crossed the upper channel boundary from below. | Price breaks through the upper channel band upward. May signal the start of an upward move or reaching overbought — interpretation depends on context. |
| Lower band cross | 🟢 Buy | The closing price crossed the lower channel boundary from above. | Price breaks through the lower channel band downward. May signal the start of a downward move or reaching oversold — interpretation depends on the indicator context. |
| Back inside from above | 🔴 Sell | Price returned inside the channel from the upper side (reversion to normal). | The closing price was above the upper boundary and returned inside the channel. May signal a pullback from extreme overbought. |
| Back inside from below | 🟢 Buy | Price returned inside the channel from the lower side (reversion to normal). | The closing price was below the lower boundary and returned inside the channel. May signal a bounce from extreme oversold. |
| High touched upper boundary (realtime) | 🔴 Sell | The high of the current unclosed candle touched the upper channel boundary. | Fires in real time (realtime) — without waiting for the candle to close — when the high of the current candle reaches or exceeds the upper boundary. Useful for a fast reaction to a boundary touch. |
| Low touches lower band (realtime) | 🟢 Buy | The low of the current unclosed candle touched the lower channel boundary. | Fires in real time (realtime) when the low of the current candle reaches or drops below the lower boundary. |
| Middle line cross up | 🟢 Buy | The closing price crossed the channel middle line from below. | The closing price rises above the channel middle line. Signals a balance shift in favor of buyers. |
| Middle line cross down | 🔴 Sell | The closing price crossed the channel middle line from above. | The closing price drops below the channel middle line. Signals a balance shift in favor of sellers. |
| Upper band touch (close) | 🔴 Sell | The closing price touched or exceeded the upper channel boundary. | The closing price reached the upper channel boundary. Signals buyer pressure. |
| Lower band touch (close) | 🟢 Buy | The closing price touched or dropped below the lower channel boundary. | The closing price reached the lower channel boundary. Signals seller pressure. |
| Confirmed breakout up | 🟢 Buy | Price closed above the upper boundary a set number of times in a row. | A confirmed upper-boundary breakout signal. Requires several consecutive closes above the upper boundary, which reduces the chance of a false breakout. |
| Confirmed breakout down | 🔴 Sell | Price closed below the lower boundary a set number of times in a row. | A confirmed lower-boundary breakout signal. Unlike close_cross_lower (single bar), it requires several consecutive closes below the lower boundary. Reduces the number of false breakouts but increases lag. |
| Price above channel line by N % | 🔴 Sell | Price is above the selected channel line by a set percentage — a sell signal. | Fires when the closing price exceeds the selected channel line by a set percentage. By mean-reversion logic: over-extension upward is a sell signal. |
| Price below channel line by N % | 🟢 Buy | Price is below the selected channel line by a set percentage — a buy signal. | Fires when the closing price is below the selected channel line by a set percentage. Over-extension downward is a buy signal (mean reversion). |
| Slope turns positive | 🟢 Buy | The indicator’s slope turned positive — an upward reversal. | The Pivot level changes its slope from descending to ascending — the indicator has stopped falling and started rising. |
| Slope turns negative | 🔴 Sell | The indicator’s slope turned negative — a downward reversal. | The Pivot level changes its slope from ascending to descending — the indicator has stopped rising and started falling. |
Trigger parameters
Section titled “Trigger parameters”| Parameter | Type | Default | Range / Values |
|---|---|---|---|
Percent (Price above channel line by N %, Price below channel line by N %) | float | 1 | 0-100 |
Candles (Confirmed breakout down, Confirmed breakout up) | int | 2 | 1-20 |
Band (Price below channel line by N %) | enum | lower | upper, lower, middle |
Band (Price above channel line by N %) | enum | upper | upper, lower, middle |
