Pivot Trend [ChartPrime]

The Pivot Trend indicator is a tool designed to identify potential trend reversals based on pivot points in the price action. It helps traders spot shifts in market sentiment and anticipate changes in price direction.


◈ User Inputs:

• Left Bars: Specifies the number of bars to the left of the current bar to consider when calculating pivot points.
  
• Right Bars: Specifies the number of bars to the right of the current bar to consider when calculating pivot points.
  
• Offset: Adjusts the sensitivity of pivot point detection.
  

◈ Indicator Calculation:
The indicator calculates pivot points based on the highest and lowest prices within a specified range of bars. It then determines the trend direction based on whether the current price crossed above upper band or crossed below lower band.
Upper and Lower Bands



◈ Visualization:
Trend direction is indicated by the color of the plotted lines, with blue representing an upward trend and red representing a downward trend.


Buy and sell signals are marked on the chart with corresponding symbols (🅑 for buy signals and 🅢 for sell signals).



Buy and sell signals generated by the indicator can be used in conjunction with other technical analysis tools to confirm trading decisions and manage risk.



Overall, the Pivot Trend indicator offers traders a simple yet effective method for identifying potential trend changes and capturing trading opportunities in the market. Adjusting the input parameters allows for customization according to individual trading preferences and market conditions.