This is an overlay indicator that finds and identifies pivots. It is very sensitive so works best on smoother oscillators such as Stoch RSI. Make sure you set the source to your indicator after you overlay it. You will need to adjust the rev high and low inputs in the settings. For example Stoch RSI would have a revhigh = 80 and revlow = 20. This script is not designed to work on the chart. Yellow = First Higher low or First Lower High Orange = Reversal (Indicator low and high levels can be adjusted in settings. Teal = Higher Low Red = Lower High Gray = Higher high or Lower Low
Hi, I just wanted to ask real quick if it's not a problem, I've noticed that on occasion that the orange pivot indicator is a bit premature, so I wanted to ask: what are the best indicators to use in conjunction with this one (using it on stoch rsi) to have a higher level of confidence in signals/ how do you go about risk management when trading with this signal?
ashdays
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Thank you for your hard work in bringing this to the community
Sirio125
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Hi, veryfid, thanks for your updating to this indicator. You are always the best ! I have a problem: I tried to overlay your indicator to Stoch RSI but I checked that it is not possible. Maybe I wrong to set,I d'nt know it. Another question: after to overlay your indicator I would to set the Stoch RSI parameters ( what values do you suggest) ?. Thank in advance
veryfid
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@Sirio125, Hi, yes you can overlay is on stoch RSI. Make sure you set the source to your indicator after you overlay it. You will need to adjust the rev high and low inputs in the settings. For example Stoch RSI would have a revhigh = 80 and revlow = 20.