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Dynamic pivots indicator for TradingView
As the name suggests the dynamic price pivots indicator for TradingView is triggered solely on price action and delivers simple clear signals, highlighting potential short term reversals, the development of congestion phases, and the confirmation of longer term trends. In other words the pivot acts as a leading indicator of future price behaviour, which as a trader, is really all you want to know. Two specific pivot signals are displayed by the indicator, a pivot low, and a pivot high. Both are shown with a yellow arrow, one above and one below the candle or bar. The pivot low is triggered when the candles or bars either side have a higher high and a higher low than the one in the middle. The pivot high is triggered on the candle, when the candles or bars on either side have a lower high and a lower low.
Most importantly the pivots help to confirm when a market is moving into congestion at the live edge of the market. So if you’re in a trend and see the trend stalling, the pivot delivers a powerful signal of a possible reversal, or at the very least congestion developing. Alternatively, as a breakout trader the pivot can help you apply this tactical approach to congestion phases as the indicator will define these regions clearly for you.
Finally as a trend trader, staying in is one of the hardest things to do in trading, and here the pivots will help to confirm whether the trend remains intact or is perhaps breaking down or moving into congestion. If the pivots are creating higher highs and higher lows in the uptrend, then this will give you the confidence to continue holding any position. Equally in any trend lower, where the pivots describe lower highs and lower lows, once again the trend is confirmed.
The indicator works in all timeframes and all markets on the TradingView platform. Such a simple indicator, yet so powerful when applied in the way described here. So why not add it to your toolbox of trading indicators…today.