Automatic Risk to Reward Pivots

In a nutshell I was tired of guestimating what my risk was between pivots when getting into trades I went to work on the basic math behind the relationship of the pivots to find their natural risk to reward ratios.

The natural risk to rewards span high and low...for example...you can go from the S3 --> R3 and that R:R is with a stop loss of the S4 is 7.4

But making all of those possibilities in code is excessive and for simplicity sake I price can only be between two pivot areas at any point in time.

So this auto risk to reward is limited to the 2:1 opportunities. If you by chance do the math for all of the possibilities as I have then it would be easy to change the Take Profit levels.

I use the fibonacci pivot points in this indicator but I include the mid levels and further extensions totaling 20 levels, 21 including the pivot .

Here they are...the generic plots are bolded...the additional levels are the other fib levels

R7 - 200%
R6 - 162%
R5 - 141%
R4 - 127%
R3 - 100%
R-C - 76%
R2 - 62%
R-B - 50%
R1 - 38%
R-A - 24%
S-A - (24%)
S1 - (38%)
S-B - (50%)
S2 - (62%)
S-C - (76%)
S3 - (100%)
S4 - (127%)
S5 - (141%)
S6 - (162%)
S7 - (200%)

The indicator give you the setups for uptrends and downtrends based on the pivot point moving averages (ex. ema (hlc3, 34)) from a higher timeframe which you will be free to change yourself in the inputs.

For my setup, I trade from the daily pivots using the 10m or 5m chart so my next level up is the weekly pivots which I view using the 1H chart candles.

In the next iterations I will add the ability to change the MA lengths.

Pivot Point Moving average lengths

Weekly lengths - fast 34 : slow 55
Monthly lengths - fast 13 : slow 34
Yearly lengths - fast 13 : slow 34

Rules for Uptrends
Fast MA > Slow MA
Session high < r6

Rules for Downtrends
Fast MA < Slow MA
Session high > s6

Timeframes applicable are only those who have a higher pivot set above it
Monthly_SR = 240m, 300m, D
Weekly_SR = 26m, 30m, 60m
Daily_SR = 1m, 3m , 5m, 10m, 15m

Your take profit line will always populate where your risk will be 2:1

Your stop loss will always be one pivot level underneath or above your entry

Feel free to ask any questions. Trade well my friends!
Notas de prensa: Release Notes: v1.1
Fixed the repainting issue
Added labels on the other side of the pivot to label which pivot is showing for the TP, Entry and SL, respectively.
Notas de prensa: Release Notes: v1.2
Cleared out unused code
Notas de prensa: Release Notes: v1.3
Corrected trend identification
Corrected bull sentiment syntax for TF using the monthly period
reduced use of the security function to increase compile time
Notas de prensa: Release Notes: Release Notes: v1.4
Color inputs added
Notas de prensa: Release Notes: v 1.5
Drastically reduced compile time
Removed small bug where old lines would show
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hi may i use it pls
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