Multi-Timeframe Pivot

3 jul

Description:
This script provides an advanced tool for multi-timeframe pivot point
analysis. It identifies swing points based on a candle's relationship to
its neighbors. The default strength settings of 1 align with the Inner
Circle Trader (ICT) concept of market structure.

The ICT concept defines a swing point based on a simple 3-candle pattern:
- A swing high is a candle where the candles to the immediate left and right
both have lower highs.
- A swing low is a candle where the candles to the immediate left and right
both have higher lows.

A key feature is its ability to accurately calculate and translate pivot
points from up to five higher timeframes (HTFs) and display them
precisely on a lower timeframe (LTF) chart.

NOTE: This indicator is designed to show HTF data on an LTF chart.
If you select a timeframe in the settings that is lower than your
current chart's timeframe, it will show pivots for the chart's
timeframe instead.

Core Features:
- Up to five independent higher timeframes.
- Per-timeframe customization for pivot strength (left/right bars) and color.
- Optional "Watchlines" that project the price of each pivot forward,
complete with a text label identifying the timeframe.
- An optional "Alignment Model" that colors the background when price is
aligned across all active timeframes (requires at least 2 TFs to be enabled).

Default State:
For a clean initial application, the Watchlines and Alignment Model features
are disabled by default but can be enabled in the settings.

9 ago

Notas de prensa

This is an update. The time-frame alignment model has been removed. The script now uses a "direct analysis" engine that checks every single bar on the selected timeframe, allowing it to find and plot a much higher density of pivots. All pivot plotting is now done using the bar's timestamp for the most accurate visual representation.