Overview

The Dynamic Price Pivots indicator has been designed and developed to help you take advantage of leading price action in several different ways. We call it dynamic because that’s what it is, dynamically signaling changes in sentiment at the live edge of the market using a three candle pattern. If the centre candle has lower highs and lower lows than the candles on either side, a pivot low is triggered, and conversely, if the centre candle has higher highs and higher lows, a pivot high is formed. The indicator is triggered on the close of the candle.

The Dynamic Price Pivots indicator, can be used in several different ways, which is why we refer to it as the ‘Swiss Army Knife’ of trading indicators – a simple yet powerful indicator.

First, the indicator identifies short-term changes in market sentiment, as price action ebbs and flows from bullish to bearish and back again. Second, the indicator can be used to identify support and resistance regions as they build in real-time, helping to define and confirm support and resistance regions. The pivot highs and the pivot lows define the floor and ceiling of support and resistance dynamically. Finally, the pivots can also be used to define the upper and lower regions of trends, again, as they build dynamically.

The Dynamic Price Pivots indicator is not an entry or exit signal indicator, but one that’s used with a variety of others, including volume, to help define the market state in real-time. Are you in a congestion phase which is building or a trend which is developing? The Dynamic Price Pivots indicator will help to frame the market conditions, which you can then confirm with all your other trading indicators. The Quantum Dynamic Price Pivots indicator works in all timeframes from seconds to months and also on tick charts.

Format

By clicking the indicator’s Format button, you can configure the Quantum Dynamic Price Pivots Indicator’s style according to your preferences. The Format button appears as a small cog/gear icon beside the name of the indicator at the chart. Clicking the button shows a dialog box for configuring the Style options.

Style

TradingView allows you to customize the indicator’s appearance by changing the properties of each of its plots/lines.

Isolated High

This is a plot that marks the Isolated High candlestick pattern, a bearish signal, with a triangle pointing downward.

  • Visible by default, you can untick the checkbox beside its name to hide this line in the chart.
  • Color is set to yellow. You can click the color box to choose another color from a palette.
  • Plot symbol is set to Triangle Down suggesting the signal’s downward direction. However, you are free to choose other symbols available in the drop-down list.
  • Plot position is set to Above Bar. We recommend keeping this setting.

Isolated Low

This is a plot that marks the Isolated low candlestick pattern, a bullish signal, with a triangle pointing upward.

  • Visible by default, you can untick the checkbox beside its name to hide this line in the chart.
  • Color is set to yellow. You can click the color box to choose another color from a palette.
  • Plot symbol is set to Triangle Up suggesting the signal’s upward direction. However, you are free to choose other symbols available in the drop-down list.
  • Plot position is set to Below Bar. We recommend keeping this setting.

Precision

This determines the number of decimal places the indicator uses to display the current value of its lines. You can adjust this by choosing from a drop-down list but it is not useful to this indicator.

Scale

You can choose either Pin to Right or Pin to Left.

  • Pin to Right is the default option. This displays the indicator labels at the right hand side of the indicator.
  • Pin to Left displays the indicator labels at the left hand side of the indicator.