Daily Pivot Breakout Strategy Indicator

7 nov

Tagline:
A pivot-based breakout system that identifies confirmed daily breakouts with momentum and volume filters, with precise entry timing across all timeframes.
How It Works:
This indicator detects strict pivot high breakouts on daily data, filtered by Rate of Change (ROC ≥30%) and Relative Volume (RVOL >1). It displays both the breakout confirmation signal and the next-day entry signal directly on your chart, regardless of timeframe.
Visual Signals:

• Orange Pivot Line: The most recent confirmed pivot high (within 250-day lookback)
  
• Day-0 Label (Teal): Appears on the breakout confirmation day (when price closes above daily pivot with filters met)
  
• Entry Banner (Green): Appears on the next trading day at market open - your actual entry point
  

Cross-Timeframe Consistency:

• Daily Chart: View the big picture - Day-0 on breakout bar, Entry on next bar
  
• Any Timeframe: Logic remains consistent to daily pivots and data, signals adapt to show at the correct time
  

Built-in Alert Conditions:

• 5PivotBreakout_Scan (Day-0): Fires when breakout is confirmed. Use this for after-hours scanning to build watchlists of confirmed breakouts
  
• 5PivotBreakout_Strategy (Next): Fires at market open the next day. Use this to automate entries on confirmed breakouts
  

Typical Workflow:

• Set up Day-0 alerts on your watchlist to catch breakouts as they happen
  
• Review confirmed breakouts each evening
  
• Set up Entry alerts on selected tickers to automate next-day execution (fires at market open)
  
• Optional: Convert to strategy() for backtesting with custom exits (20% trail is good)
  

Key Features:

• Strict pivot detection: No ties allowed - center must be highest point
  
• Momentum filter: 100-day ROC ensures trending strength
  
• Volume confirmation: 20-day RVOL validates participation
  
• No repainting: Uses lookahead_off for realistic, tradeable signals
  

Customizable Inputs:

• Pivot strength parameters (left/right bars)
  
• Pivot lookback period
  
• ROC period and minimum threshold
  
• RVOL period
  
• Toggle visibility of pivot line and labels
  

Note: This indicator is for educational purposes only and does not constitute financial advice. Past performance does not guarantee future results. Always test thoroughly before live trading.

10 nov

Notas de prensa

Release Notes:
- Updated the name of the script

14 nov

Notas de prensa

11/13/25 Updates:
- Added modifiable trailing stop % levels based on entries
- Set alerts on these to be notified when a trailing stop loss is hit, or automate orders via webhook

14 nov

Notas de prensa

11/14/25 Updates:
- Fixed trail stop dots bug

14 nov

Notas de prensa

11/14/25 Update 2:
- Added 15 trailing stop levels