# Pivot Pivots Confirmation with Trading Levels For ThinkOrSwim

#### J007RMC

##### Well-known member
2019 Donor
Great Script I added this to my chart...
Code:
``````input n = 5;#hint n: For pivot and standard deviation
input initialLots = 4;#hint initialLots: Set to preference
input stDevMult = 2.0;#hint stDevMult: trail stop multiplier
input labels = yes;

def openingLots = Max(4, initialLots);
AddLabel(initialLots < openingLots, " Error: Initial lots must be 4 or more ", Color.Cyan);
def h = high;
def l = low;
def c = close;
def nan = Double.NaN;
def tick = TickSize();
def x = BarNumber();
def stDev = CompoundValue(1, StDev(c, n), nan);
def ll = l == Lowest(l, n);
def LPx = if ll then x else nan;
def LP_low = if !IsNaN(LPx) then l else LP_Low[1];
def LP_High = if !IsNaN(LPx) then h else LP_High[1];
def confirmation_count = if ll then 0 else
if c crosses above LP_high
then confirmation_count[1] + 1
else confirmation_count[1];
def confirmationX = if confirmation_count crosses above 0
then x else nan;
def confirmed = confirmation_count crosses above 0;

def ro;
def stc;
def trail;
def retrace;
if confirmed {
ro = Round((c + (c - LP_Low) / (openingLots - 2)) / tick, 0) * tick;
stc = LP_Low;
trail = LP_Low;
retrace = LP_Low;
}else{
ro = CompoundValue(1, ro[1], nan);
stc = stc[1];
trail = Round(Max(trail[1], l[1] - stDev[1] * stDevMult) / tick, 0) * tick;
retrace = Round(Max(retrace[1], l[1] - StDev[1] * addAtPercentStDev / 100) / tick, 0) * tick;
}

def ro_reached = if confirmed then 0 else
if h > ro then 1 else ro_reached[1];
def added = if confirmed then 0 else
if l crosses below retrace then 1 else added[1];
def trail_hit = if confirmed then 0 else
if c < trail then 1 else trail_hit[1];
def stop_hit = if confirmed then 0 else
if l < stc then 1 else stop_hit[1];

plot
PivotConfirmed = confirmed;
PivotConfirmed.SetDefaultColor(Color.Light_Green);
PivotConfirmed.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);

plot
BuyToOpen = if confirmed then c else nan;

plot
SellToClose = if !stop_hit or stop_hit crosses above 0 then stc else nan;
SellToClose.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
SellToClose.SetDefaultColor(Color.RED);

plot
TrailingStop = if ! trail_hit or trail_hit crosses above 0 then trail else nan;
TrailingStop.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
TrailingStop.SetDefaultColor(Color.Pink);

plot

plot
RiskOut = if !ro_reached or ro_reached crosses above 0 then ro else nan;
RiskOut.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
RiskOut.SetDefaultColor(CreateColor(215, 215, 215));

AddLabel(labels and RiskOut, " Sell " + (openingLots - 2) + " = " + ro + " ", CreateColor(215, 215, 215));
AddLabel(labels and RiskOut, " ", CreateColor(0, 0, 0));
AddLabel(labels and ro_reached and TrailingStop, " Sell "+(1+addedLots-1)+" at = "+trail+" ", Color.Pink);
Addlabel(labels and ro_reached and TrailingStop, " ", CreateColor(0, 0, 0));
AddLabel(labels and SellToClose, " Sell All = " + stc + " ", Color.Red);
Addlabel(labels and SellToClose, " ", CreateColor(0, 0, 0));

#f/ Pivot Confirmation With Trading Levels``````

Last edited by a moderator:
Interesting to note the advanced market moves indicator fired along with the pivot script arrow on the hourly.

Very interesting. Thanks for sharing.

I am liking this. Thanks for sharing, J007RMC.

My coding skills are lacking - just starting to learn. I have tried to insert BUY / SELL commands to use the FloatingPL but just not getting it right. Would you please help? The following seems off and I know it can be written better to work with what you have done. I'm not sure how to adapt this to your initial order, the add to order, plus stops and trailing stops.

AddOrder(condition = confirmed, type = OrderType.BUY_TO_OPEN, price = close, name = "LE");
AddOrder(condition = stop_hit, type = OrderType.SELL_TO_CLOSE, price = close, name = "LX");
AddOrder(condition = trail_hit, type = OrderType.SELL_TO_CLOSE, price = close, name = "TrailStop");

Thanks,
Rick

This is a script I run every day I like it

Last edited by a moderator:
how do these arrows paint?

They do, I wait for the pivot shelf to settle with this script I use a swing hi/lo script catching the swings is important to me to look for the swing highs and lo's.... here is the kicker

Last edited by a moderator:
does it work on all timeframes or mostly for swings? thanks!

Yes, works for ticks too

Heres the code for short entries if anyone is intereseted

Code:
``````input n = 5;#hint n: For pivot and standard deviation
input initialLots = 4;#hint initialLots: Set to preference
input stDevMult = 2.0;#hint stDevMult: trail stop multiplier
input labels = no;

def openingLots = Max(4, initialLots);
AddLabel(initialLots < openingLots, " Error: Initial lots must be 4 or more ", Color.Cyan);
def h = high;
def l = low;
def c = close;
def nan = Double.NaN;
def tick = TickSize();
def x = BarNumber();
def stDev = CompoundValue(1, StDev(c, n), nan);
def hh = h == Highest(h, n);
def LPx = if hh then x else nan;
def LP_low = if !IsNaN(LPx) then l else LP_Low[1];
def LP_High = if !IsNaN(LPx) then h else LP_High[1];
def confirmation_count = if hh then 0 else
if c crosses below LP_Low
then confirmation_count[1] + 1
else confirmation_count[1];
def confirmationX = if confirmation_count crosses above 0
then x else nan;
def confirmed = confirmation_count crosses above 0;

def ro;
def stc;
def trail;
def retrace;
if confirmed {
ro = Round((c - (LP_High - c) / (openingLots - 2)) / tick, 0) * tick;
stc = LP_High;
trail = LP_High;
retrace = LP_High;
}else{
ro = CompoundValue(1, ro[1], nan);
stc = stc[1];
trail = Round(Min(trail[1], h[1] + stDev[1] * stDevMult) / tick, 0) * tick;
retrace = Round(Min(retrace[1], h[1] + StDev[1] * addAtPercentStDev / 100) / tick, 0) * tick;
}

def ro_reached = if confirmed then 0 else
if l < ro then 1 else ro_reached[1];
def added = if confirmed then 0 else
if h crosses above retrace then 1 else added[1];
def trail_hit = if confirmed then 0 else
if c > trail then 1 else trail_hit[1];
def stop_hit = if confirmed then 0 else
if h > stc then 1 else stop_hit[1];

plot
PivotConfirmed = confirmed;
PivotConfirmed.SetDefaultColor(Color.Light_Red);
PivotConfirmed.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);

plot
BuyToOpen = if confirmed then c else nan;

plot
SellToClose = if !stop_hit or stop_hit crosses above 0 then stc else nan;
SellToClose.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
SellToClose.SetDefaultColor(Color.RED);

plot
TrailingStop = if ! trail_hit or trail_hit crosses above 0 then trail else nan;
TrailingStop.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
TrailingStop.SetDefaultColor(Color.Pink);

plot

plot
RiskOut = if !ro_reached or ro_reached crosses above 0 then ro else nan;
RiskOut.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
RiskOut.SetDefaultColor(CreateColor(215, 215, 215));

AddLabel(labels and RiskOut, " Sell " + (openingLots - 2) + " = " + ro + " ", CreateColor(215, 215, 215));
AddLabel(labels and RiskOut, " ", CreateColor(0, 0, 0));
AddLabel(labels and ro_reached and TrailingStop, " Sell "+(1+addedLots-1)+" at = "+trail+" ", Color.Pink);
Addlabel(labels and ro_reached and TrailingStop, " ", CreateColor(0, 0, 0));
AddLabel(labels and SellToClose, " Sell All = " + stc + " ", Color.Red);
Addlabel(labels and SellToClose, " ", CreateColor(0, 0, 0));

#f/ Pivot Confirmation With Trading Levels``````

Help with turning a study into a scan. I can’t find who orginally posted this if it was here. There two seperate studies one for Longs one for Shorts. I’m trying to turn one into a scan: The scan says to remove labels. I did, must have at least one plot. This is where I’ve tried to alter the study to get results with no luck.

Here is the original clean code for the study. Can someone help me turn this into a scan please??
input n = 5;#hint n: For pivot and standard deviation
input initialLots = 4;#hint initialLots: Set to preference
input stDevMult = 2.0;#hint stDevMult: trail stop multiplier
input labels = no;

def openingLots = Max(4, initialLots);
AddLabel(initialLots < openingLots, " Error: Initial lots must be 4 or more ", Color.Cyan);
def h = high;
def l = low;
def c = close;
def nan = Double.NaN;
def tick = TickSize();
def x = BarNumber();
def stDev = CompoundValue(1, StDev(c, n), nan);
def hh = h == Highest(h, n);
def LPx = if hh then x else nan;
def LP_low = if !IsNaN(LPx) then l else LP_Low[1];
def LP_High = if !IsNaN(LPx) then h else LP_High[1];
def confirmation_count = if hh then 0 else
if c crosses below LP_Low
then confirmation_count[1] + 1
else confirmation_count[1];
def confirmationX = if confirmation_count crosses above 0
then x else nan;
def confirmed = confirmation_count crosses above 0;

def ro;
def stc;
def trail;
def retrace;
if confirmed {
ro = Round((c - (LP_High - c) / (openingLots - 2)) / tick, 0) * tick;
stc = LP_High;
trail = LP_High;
retrace = LP_High;
}else{
ro = CompoundValue(1, ro[1], nan);
stc = stc[1];
trail = Round(Min(trail[1], h[1] + stDev[1] * stDevMult) / tick, 0) * tick;
retrace = Round(Min(retrace[1], h[1] + StDev[1] * addAtPercentStDev / 100) / tick, 0) * tick;
}

def ro_reached = if confirmed then 0 else
if l < ro then 1 else ro_reached[1];
def added = if confirmed then 0 else
if h crosses above retrace then 1 else added[1];
def trail_hit = if confirmed then 0 else
if c > trail then 1 else trail_hit[1];
def stop_hit = if confirmed then 0 else
if h > stc then 1 else stop_hit[1];

plot
PivotConfirmed = confirmed;
PivotConfirmed.SetDefaultColor(Color.Light_Red);
PivotConfirmed.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);

plot
BuyToOpen = if confirmed then c else nan;
Ok these are the changes I made: created a study; and used the study and said TRUE: I only got a couple results on a D and not on smaller time frames. I think I may have figured this out and i’m so shocked and happy I’m finally learning this stuff. Let me know if there is something else I may have missed:

input n = 5;#hint n: For pivot and standard deviation
input initialLots = 4;#hint initialLots: Set to preference
input stDevMult = 2.0;#hint stDevMult: trail stop multiplier
input labels = no;

def openingLots = Max(4, initialLots);

def h = high;
def l = low;
def c = close;
def nan = Double.NaN;
def tick = TickSize();
def x = BarNumber();
def stDev = CompoundValue(1, StDev(c, n), nan);
def hh = h == Highest(h, n);
def LPx = if hh then x else nan;
def LP_low = if !IsNaN(LPx) then l else LP_Low[1];
def LP_High = if !IsNaN(LPx) then h else LP_High[1];
def confirmation_count = if hh then 0 else
if c crosses below LP_Low
then confirmation_count[1] + 1
else confirmation_count[1];
def confirmationX = if confirmation_count crosses above 0
then x else nan;
def confirmed = confirmation_count crosses above 0;

def ro;
def stc;
def trail;
def retrace;
if confirmed {
ro = Round((c - (LP_High - c) / (openingLots - 2)) / tick, 0) * tick;
stc = LP_High;
trail = LP_High;
retrace = LP_High;
}else{
ro = CompoundValue(1, ro[1], nan);
stc = stc[1];
trail = Round(Min(trail[1], h[1] + stDev[1] * stDevMult) / tick, 0) * tick;
retrace = Round(Min(retrace[1], h[1] + StDev[1] * addAtPercentStDev / 100) / tick, 0) * tick;
}

def ro_reached = if confirmed then 0 else
if l < ro then 1 else ro_reached[1];
def added = if confirmed then 0 else
if h crosses above retrace then 1 else added[1];
def trail_hit = if confirmed then 0 else
if c > trail then 1 else trail_hit[1];
def stop_hit = if confirmed then 0 else
if h > stc then 1 else stop_hit[1];

plot
PivotConfirmed = confirmed;
PivotConfirmed.SetDefaultColor(Color.Light_Red);
PivotConfirmed.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);

87k+ Posts
300 Online

## The Market Trading Game Changer

Join 2,500+ subscribers inside the useThinkScript VIP Membership Club
• Exclusive indicators
• Proven strategies & setups
• Private Discord community
• Exclusive members-only content
• 1 full year of unlimited support

What is useThinkScript?

useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. Traders of all skill levels use our forums to learn about scripting and indicators, help each other, and discover new ways to gain an edge in the markets.

How do I get started?

We get it. Our forum can be intimidating, if not overwhelming. With thousands of topics, tens of thousands of posts, our community has created an incredibly deep knowledge base for stock traders. No one can ever exhaust every resource provided on our site.

If you are new, or just looking for guidance, here are some helpful links to get you started.

What are the benefits of VIP Membership?