OPEN-SOURCE SCRIPT
Updated Pivot HL Trading Setup
This simple script base on function of Pivot High Low to plot Trading Setup on chart with detail as below:
2. Trading Setup
2.1 Buy setup
+ New Pivot Low is plotted
+ Entry Long at market price.
+ Stoploss at Pivot Low
+ Takeprofit at Pivot High
+ Buy setup invalidation when price crossed Pivot High or Pivot Low
2.1 Sell setup
+ New Pivot High is plotted
+ Entry Short at market price.
+ Stoploss at Pivot High
+ Takeprofit at Pivot Low
+ Sell setup invalidation when price crossed Pivot High or Pivot Low
2. Trading Setup
2.1 Buy setup
+ New Pivot Low is plotted
+ Entry Long at market price.
+ Stoploss at Pivot Low
+ Takeprofit at Pivot High
+ Buy setup invalidation when price crossed Pivot High or Pivot Low
2.1 Sell setup
+ New Pivot High is plotted
+ Entry Short at market price.
+ Stoploss at Pivot High
+ Takeprofit at Pivot Low
+ Sell setup invalidation when price crossed Pivot High or Pivot Low
Release Notes
update script overlayOpen-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.