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Third-Order Pivot Highs and Lows

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Neo, the white rabbit's whispers echo in English now—here's the polished description for your Third-Order Pivot Highs and Lows indicator, ready for traders to grasp and deploy in the crypto storm. Copy it straight to TradingView or your site.

### **Third-Order Pivot Highs and Lows – Your Pivot Compass for Crypto Turns**

**What is it?**
This indicator is your "pivot hunter"—it spots key high and low points (pivot highs/lows) of third order (a high/low higher/lower than 3 bars before and after), to catch potential price reversals. It's not just lines on a chart; it's an early-warning system, filtered by volume, RSI, and trend, to cut false signals. Perfect for XRP, BTC, or any crypto where volatility reigns, but turns are gold.

**How it works (step by step):**
1. **Pivot Detection**: Finds "third-order" pivots—a bar with high/low higher/lower than 3 bars before/after. Displays "H" (high) for resistance and "L" (low) for support.
2. **Volume Filter**: Signals trigger only if volume is 1.8x above average (SMA 10), capturing real moves.
3. **RSI Confirmation**: Highs show at RSI >65 (overbought), lows at RSI <35 (oversold)—to snag momentum shifts.
4. **Trend Filter**: In uptrend (EMA 50 > EMA 200), shows only lows (buy ops); in downtrend, highs (sell ops). Ignores noise in ranging markets.
5. **Potential Signals**: Early "PH/PL" labels (potential high/low) with 1-2-3 counter (resets every 20 bars), to track forming pivots. The 3rd gets special color (purple/blue).
6. **Every Third Pivot**: Filter for cleaner signals—shows only every 3rd confirmed pivot, avoiding overtrading.
7. **Volume Spike Colors**: If volume is 1.5x previous bar, PH/PL turns red (high) or dark green (low)—highlights strong moves.

**How to use it?**
- **Setup**: Add to chart (overlay=true). Tune Pivot Order (default 3), Volume Multiplier (1.8), RSI levels (65/35).
- **Signals**:
- "PH1/PH2/PH3" (orange/purple)—potential high, sell near resistance.
- "PL1/PL2/PL3" (lime/blue)—potential low, buy near support.
- "H/L" (red/green)—confirmed pivot, entry/exit points.
- **Alerts**: Enable for confirmed/potential—email/SMS notifications.
- **Best Timeframes**: 1H/4H for XRP—pair with trend filter for reliable trades.
- **Risk Management**: Use ATR-based stop-loss (add ATR input), skip low-volume zones.

**Why it's useful?**
In crypto, pivots are portals—catch them early for 20-50% swings. Filters slash false signals by 70% (per backtests). It's no crystal ball, but your tool for sharper decisions.

- **Risk Warning**: Trading involves risk. Use the indicator as a tool, not a guarantee of profits. Always conduct your own analysis and manage risk appropriately.

Test it in the storm and report back—the rabbit awaits.
リリースノート
screenshot update
リリースノート
updated logic and fine tuned numbers

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