🧾 Pivot Trendlines and Breaks A script meant to debut and provide an example usage of the Simple Trendlines library using Pine Script's built-in pivot system. tradingview.com/script/85fU3JnE-Simple-Trendlines/ In under 50 lines of code, with inputs, plots, styling, and alerts included we're able to create trendlines with a breakout system.
▶️ How it works Calculating pivot points helps traders identify moments at which the market's attitude can shift from bullish to bearish. In the background, the script tracks pivot events for trendlines and uses a system that prevents any leakage between the trendlines before they are drawn.
⚫️ Settings
Pivot Length
Color Adjustments
⚫️ Alerts
Notas de prensa
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Refactor
Runtime performance increase.
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Added
Repaint options
More style options
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Update
Maximum line display count is now set as default.
The indicator now features newly displayed target levels.
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Add
More Input Options
Ability to choose an external source, giving the script a more "universal" feel. Users now have the freedom to choose the way they want their breakouts to be, with the "Use Source for Cross Detection" input.
Here's an example image of the script calculating trendlines with breaks on the TEMA. Now possible with this update. While the code is no longer around 50 lines as stated in the main description, the indicator is structured and extended to provide developers with examples of how the Simple Trendlines library can be used.
Notas de prensa
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Refactor
Removed old pivot system in favor of Pine Script's built-in pivot system. Leading to run-time performance increase and more accurate results.
Hai.. can u make one more alert for both condition ? Buy and sell
semihinvestment
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Hi, can you also add the trendline touch (not breakout) alerts for fast entry to the position ?
temel_reis
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Hello. Thank you for this indicator. I wonder whether you may consider adding an option for number of historical trends to be displayed.
Hamster-Coder
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Hello. Very useful indicator. Please add following line in future versions to decrease amount of alerts. Thank you :) alertcondition((ta.change(cu) and cu) or (ta.change(co) and co), 'Breakout')
Have you had any success with a particular Pivot length number? any recommendations?
HoanGhetti
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@christianmlo, I would personally stick to anything above or equal to 20. Can't recommend a specific number since all symbols are different, but there's less noise with a higher lookback range.