Fractal Pivot Levels

ThinkScripter — Sat, 04 Dec 2010 16:19:37 +0000

Reading price action is probably the single most important skill of any trader. Over time, you become attuned to seeing prior pivots and the reaction of the price action thereto. I’ve had numerous requests to implement an indicator which displays the historical fractal swing levels across the chart automatically avoiding the need to plot these by hand. The Fractal Pivot Levels indicator is the resulting study. The user inputs the price or percentage swing threshold that must be exceeded to trigger a fractal pivot reversal. Once identified, the pivot level is plotted for all future bars. The indicator will display up to 60 (30 High, 30 Low) fractal pivots. I’ve indicated on the lower image where price respected a prior pivot level. (Note: This will be added to the Pro Member bundle with next week’s update)

Price Action at Fractal Pivots

ThinkScripter Pivot Confluence

ThinkScripter — Tue, 28 Apr 2009 00:13:59 +0000

YAPS!….yet another pivot study. Folks are requesting these so I keep doing them…. In this particular case we have a study that looks at the monthly, weekly, and daily pivot levels, makes a comparison and only plots the levels that are within a specified percentage of each other. In other words, we are looking for confluences of the various time-frame pivots as more likely to provide support and resistance.

Pivot Confluence

ThinkScripter » confluence

Fractal Pivot Levels

ThinkScripter Pivot Confluence