Pivot Points Standard

Pivots Traditional with Alerts — Description

Pivots Traditional with Alerts is an indicator that calculates standard (Traditional) Pivot Point levels and provides alerts when price interacts with these levels.

What the indicator does
• Calculates the main Pivot level (P) and support/resistance levels (S1, S2, S3, R1, R2, R3) using the previous period’s High, Low, and Close (HLC).
• Updates automatically when a new pivot period begins (e.g., new day, week, or month depending on the selected Pivot Timeframe).
• Visually plots the pivot levels on the chart for easy reference.

Alerts

The indicator allows alerts for:
• Price touching a pivot level
• Price breaking above or below a pivot level

Alerts can be enabled individually for each level (P, S1–S3, R1–R3).

Inputs
• Pivot Timeframe — timeframe used for pivot calculations (Daily, Weekly, Monthly, etc.).
• Number of Pivots Back — how many previous pivot sets to display.
• Show Labels/Prices — toggle level labels and price values.
• Enable/disable specific pivot levels (P, S1–S3, R1–R3).

Calculation (Traditional formula)
P = (High + Low + Close) / 3
R1 = 2*P − Low
S1 = 2*P − High
R2 = P + (High − Low)
S2 = P − (High − Low)
R3 = High + 2*(P − Low)
S3 = Low − 2*(High − P)

Usage

Traditional pivots are commonly used to identify potential intraday or swing support/resistance areas, reversals, and price targets. Alerts allow you to monitor these levels without constantly watching the chart.