As I was unable to locate the thread in this forum where I first found this indicator here's a fresh one. Thanks in advance if someone places it in the correct location.

In reading the creators description at the start of the script I'm still unclear what the "Confirmation Line" is and whether the trade is the entrance or the exit of the red/green zones . In searching for the answers I noticed that other members here have similar questions and were referred to Thinkscript Lounge.

Anyway, here is the script.

Edit: I would like to add that in my own application of these fabulous studies the complete "suite" will always include scans for the condition/event and definitely a custom watchlist column.

In reading the creators description at the start of the script I'm still unclear what the "Confirmation Line" is and whether the trade is the entrance or the exit of the red/green zones . In searching for the answers I noticed that other members here have similar questions and were referred to Thinkscript Lounge.

Anyway, here is the script.

Edit: I would like to add that in my own application of these fabulous studies the complete "suite" will always include scans for the condition/event and definitely a custom watchlist column.

Code:

```
# Mobius
# V01.01.29.2019
# Uses trend of higher highs with higher lows and trend of lower lows with lower highs to locate pivots. Distance for trend is set by the user. Confirmation of a reversal from pivots is set with a multiple of the pivot bars range. That multiple is also a user input.
# Trading Rules
# 1) Trade when price crosses and closes outside the pivot Confirmation line. At that point looking for best entry. Min trade is 2 contracts
# 2) Know your risk point before entering trade. Typical risk point is the pivot line itself. If your risk is crossed look for an exit. Never use hard stops - you'll often get out for little or no loss
# 3) Know your Risk off point before entering. Typical Risk Off is an ATR multiple. Offer Risk Off as soon as possible for a Risk Free trade
# 4) set mental stop one tick above entry when Risk Off is achieved
# 5) if trade continues your way move mental stop for your runner to last support / resistance each time a new support / resistance is hit.
input n = 5;
input R_Mult = .7;
def o = open;
def h = high;
def l = low;
def c = close;
def x = BarNumber();
def nan = Double.NaN;
def ts = tickSize();
def tr = TrueRange(h, c, l);
def hh = if Sum(h > h[1], n) >= n and
Sum(l > l[1], n) >= n-1
then h
else if h > hh[1]
then h
else hh[1];
def xh = if h == hh
then x
else nan;
plot hh_ = if x >= HighestAll(xh)
then HighestAll(if IsNaN(c[-1])
then hh
else nan)
else nan;
hh_.SetDefaultColor(Color.RED);
hh_.HideTitle();
hh_.HideBubble();
def hR = if h == hh
then Round(Average(tr, n)/TickSize(), 0)*TickSize()
else hR[1];
def PrevL = if h == hh
then l[1]
else PrevL[1];
plot STO = if x >= HighestAll(xh)
then HighestAll(if IsNaN(c[-1])
then Round((Max(PrevL, hh_ - (hR * R_Mult))) / ts, 0) * ts
else nan)
else nan;
STO.SetDefaultColor(Color.RED);
STO.HideTitle();
STO.HideBubble();
plot STO_RO = if x >= HighestAll(xh)
then HighestAll(if isNaN(c[-1])
then STO - Min(hR, TickSize() * 16)
else nan)
else nan;
STO_RO.SetStyle(Curve.Long_Dash);
STO_RO.SetDefaultColor(Color.White);
STO_RO.HideBubble();
STO_RO.HideTitle();
#AddChartBubble(x == HighestAll(x), STO_RO, "RO", STO_RO.TakeValueColor(), 0);
def ll = if Sum(l < l[1], n) >= n and
Sum(h < h[1], n) >= n-1
then l
else if l < ll[1]
then l
else ll[1];
def xl = if l == ll
then x
else nan;
plot ll_ = if x >= HighestAll(xl)
then HighestAll(if IsNaN(c[-1])
then ll
else nan)
else nan;
ll_.SetDefaultColor(Color.GREEN);
ll_.HideTitle();
ll_.HideBubble();
def lR = if l == ll
then Round(Average(tr, n)/TickSize(), 0)*TickSize()
else lR[1];
def PrevH = if l == ll
then h[1]
else PrevH[1];
plot BTO = if x >= HighestAll(xl)
then HighestAll(if IsNaN(c[-1])
then Round((Min(PrevH, ll_ + (lR * R_Mult))) / ts, 0) * ts
else nan)
else nan;
BTO.SetDefaultColor(Color.GREEN);
BTO.HideTitle();
BTO.HideBubble();
plot BTO_RO = if x >= HighestAll(xl)
then HighestAll(if isNaN(c[-1])
then BTO + Min(lR, TickSize() * 16)
else nan)
else nan;
BTO_RO.SetStyle(Curve.Long_Dash);
BTO_RO.SetDefaultColor(Color.White);
BTO_RO.HideBubble();
BTO_RO.HideTitle();
#AddChartBubble(x == HighestAll(x), BTO_RO, "RO", BTO_RO.TakeValueColor(), 1);
AddCloud(STO, hh_, Color.LIGHT_RED, Color.LIGHT_RED);
AddCloud(ll_, BTO, Color.LIGHT_GREEN, Color.LIGHT_GREEN);
Alert(c crosses below STO, "", Alert.Bar, Sound.Bell);
Alert(c crosses above BTO, "", Alert.Bar, Sound.Chimes);
# End Code Trend Pivots
```

Last edited: