1. Traders using Supply & Demand theory can quickly pinpoint imbalance zones created by BUY-to-SELL and SELL-to-BUY candles. 2. Trend Following traders can systematically catch and follow a trend based on pivot zones analysis. 3. Breakout traders can easily target pivot zones’ breakout and breakdown. 4. Take the guesswork out of risk management: manage stop-loss precisely behind pivot zones. 5. Analyze contrary pivot zones to set realistic profit targets.
Objectivity
By only comparing OHLC values to identify notable price actions, Bagang Pivot Zones avoids derived calculations with subjective parameters.
Chart Issue
If the chart zooms out after adding an indicator, right-click the price scale and toggle "Scale price chart only” on.
Hi sir, i would like to first thank you again for your pivot indicator. I want to ask if you though about creating a strategy script about it? (im 2/10 level at coding :P)
- what about those criteria's:
1- buy at the close of a green candle after a green pivot zone is created. 1.1- sell half at the close of a red candle after a red pivot zone is created 1.2- sell full position at the low of the entry green pivot zone. 2- same for short side 3- I can imagine also a trailing stop, at subsequent pivot zones.
Its just brainstorming, obviously, i dont know if you have the time, the desire or the interest about it, im just throwing a line just in case :)
Thanks again friend, and good luck ;)
lai_thanh_trung
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@raychartss, your strategy idea is very clear, you can implement it and backtest using pine script easily. Just spend some free time to study existing strategy scripts and you will x3 your coding level ; )
@IMBLASTER, when you create a new alert, select Bagang Pivot Zones, the default option "Any alert() function call" will do the job. Previous comment typo: The built-in alert *will* fire...