# Pivot Pivots Confirmation with Trading Levels For ThinkOrSwim

#### J007RMC

##### Well-known member
2019 Donor
Great Script I added this to my chart... the short lines not the advanced market moves.

Code:
``````plot Data = close;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:

#### J007RMC

##### Well-known member
2019 Donor
Interesting to note the advanced market moves indicator fired along with the pivot script arrow on the hourly.

##### Well-known member
VIP
Very interesting. Thanks for sharing.

#### RickAns

##### Active member
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

#### J007RMC

##### Well-known member
2019 Donor
This is a script I run every day I like it

Last edited by a moderator:

#### Nomak

##### Member
2019 Donor
how do these arrows paint?

#### J007RMC

##### Well-known member
2019 Donor
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:

#### songwangfb

##### New member
does it work on all timeframes or mostly for swings? thanks!

#### J007RMC

##### Well-known member
2019 Donor
Yes, works for ticks too

#### J007RMC

##### Well-known member
2019 Donor
Another fav of mine is swing waves gotta try it.. This post dot hi/lo
dots but does not work on moble.
Code:
``````# Trading Analysis Swing Waves
# Version 1.0.1
# 4/20/2015
#
# Author: Brian Strong ([email protected])
# MicroQuant
#

input MajorLeftStr = 13;
input MajorRightStr = 13;
input MinorLeftStr = 5;
input MinorRightStr = 5;
input SwingTickOffset = 2;

# This indicator must be applied to a bar interval larger than 5 ticks.

def offset = TickSize() * (HighestAll(high) - LowestAll(low)) * SwingTickOffset;

#Calculate Major Swings
def pivotH = if high > Highest(high[1], MajorLeftStr) and high > Highest(high[-MajorRightStr], MajorRightStr) then 1 else 0;
def pValH = if pivotH then high + offset else Double.NaN;
def pivotL = if low < Lowest(low[1], MajorLeftStr) and low < Lowest(low[-MajorRightStr], MajorRightStr) then 1 else 0;
def pValL = if pivotL then low - offset else Double.NaN;

#Plot Major Swings
plot MajorSwHigh = pValH;
MajorSwHigh.setpaintingStrategy(paintingStrategy.POINTS);
MajorSwHigh.setLineWeight(5);
MajorSwHigh.setdefaultColor(Color.BLUE);
plot MajorSwLow = pValL;
MajorSwLow.setpaintingStrategy(paintingStrategy.POINTS);
MajorSwLow.setLineWeight(5);
MajorSwLow.setdefaultColor(Color.BLUE);``````

#### J007RMC

##### Well-known member
2019 Donor
I highly recommend the swing waves, especially for trading swings..Throw up a stochastic and RSI. i set my rsi to 7 to use on the lower time frames.

#### zeek

##### Active member
2019 Donor
Does the Swing Waves repaint? @J007RMC

#### J007RMC

##### Well-known member
2019 Donor
Hum not sure really load it up most repaint but when it sets or 1-2 bars have no idea, larger time frames don't matter much to me I have direction. I'll start watching it closer now. For instance, if Apple sets a swing high or low, I,m in 15 min chart with a couple of other indicators. Download my chart share tell me what you think?

Last edited:

#### tenacity11

##### Active member
2019 Donor
Hum not sure really load it up most repaint but when it sets or 1-2 bars have no idea, larger time frames don't matter much to me I have direction. I'll start watching it closer now. For instance, if Apple sets a swing high or low, I,m in 15 min chart with a couple of other indicators. Download my chart share tell me what you think?
I'm going to follow this on a 5m and will see if it repaints

2019 Donor

#### J007RMC

##### Well-known member
2019 Donor
I don't believe I have one

#### tenacity11

##### Active member
2019 Donor
I don't believe I have one
Is it possible to put one together? I'd really appreciate it if it can be done.

#### J007RMC

##### Well-known member
2019 Donor
Unfortunately I'm not a coder

#### tenacity11

##### Active member
2019 Donor
Unfortunately I'm not a coder
thanks anyway...maybe someone who is will come up with something.

2019 Donor

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