Swing Pivots [UkutaLabs]

2024年7月13日

█ OVERVIEW

The Swing Pivots indicator uses relevant price-action information to identify key levels of Support and Resistance. Traders will be able to use current day Swing Pivots as well as mirror higher time frame Swing Pivots to gain a stronger understanding of overall market strength and key levels.

The aim of this script is to improve the users trading experience by offering a versatile toolkit that can be used in a wide variety of trading strategies to help simplify the complexities of the market.

█ USAGE

Throughout the trading day, the script will automatically identify key High and Low levels in the market based on currently relevant price action information, giving users potentially strong support and resistance levels which serve to guide the trader throughout the complexities in the market.

The script will also Identify powerful Order Blocks which are clusters of orders executed at a specific price level which represent an imbalance between supply and demand. By identifying Order Blocks, the script can indicate valuable supply and demand zones which help signal potential market turning points for the trader.

Furthermore, the script allows the user to mirror higher time frame Swing Pivots onto lower time frame charts to gain a stronger understanding of overall market strength and key levels on multiple time frames from a single chart.

█ SETTINGS

Configuration

Pivot Strength: Determines the sensitivity of the pivot calculation. A higher strength will result in less pivots being drawn, and a lower strength will result in more pivots being drawn.

Current Time frame

• Display: Determines whether or not Swing Pivots from the current time frame will be drawn on the chart.

5 Minute (Higher Time Frame)

• Display: Determines whether or not Swing Pivots from the 5 minute time frame will be drawn on the chart.

15 Minute (Higher Time Frame)

• Display: Determines whether or not Swing Pivots from the 15 minute time frame will be drawn on the chart.
30 Minute (Higher Time Frame)

• Display: Determines whether or not Swing Pivots from the 30 minute time frame will be drawn on the chart.

1 Hour (Higher Time Frame)

• Display: Determines whether or not Swing Pivots from the 1 hour time frame will be drawn on the chart.

4 Hour (Higher Time Frame)

• Display: Determines whether or not Swing Pivots from the 4 hour time frame will be drawn on the chart.

Daily (Higher Time Frame)

• Display: Determines whether or not Swing Pivots from the daily time frame will be drawn on the chart.

2024年7月16日

リリースノート

- Fixed a bug that stopped the script from working above 5 Pivot Strength.
- Fixed a bug that caused the range to be drawn on the wrong bar.

- Added a new setting: Font Size. This setting allows the user to change the size of labels.
- Added a new setting: Higher High Color. This setting allows the user to change the color of Higher Highs.
- Added a new setting: Show Zones. This setting allows the user to decide whether or not shadows are drawn for Higher Highs.
- Added a new setting: Lower High Color. This setting allows the user to change the color of Lower Highs.
- Added a new setting: Show Zones. This setting allows the user to decide whether or not shadows are drawn for Lower Highs.
- Added a new setting: Lower Low Color. This setting allows the user to change the color of Lower Lows.
- Added a new setting: Show Zones. This setting allows the user to decide whether or not shadows are drawn for Lower Lows.
- Added a new setting: Higher Low Color. This setting allows the user to change the color of Higher Lows.
- Added a new setting: Show Zones. This setting allows the user to decide whether or not shadows are drawn for Higher Lows.