QuantNomad - Pivot Reversal Strategy - XBTUSD - 1h

Pivot reversal strategy almost always works pretty good for crypto.
Here is setup with 4 left, 4 right bars for pivot points for XBTUSD 1h chart.
It shows a pretty nice performance of 350% with only 10% dd , Sharpe is 1.16.
If you're interested in using this strategy in my scripts you can find alerts for it and a version with added backtesting range.

If you want to hear more from me you can join my Telegram channel: https://t.me/quantnomad
If you want to learn how to code in pine script join my Youtube channel: https://www.youtube.com/quantnomad

And remember:
Past performance does not guarantee future results.
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PineScript Programming: https://qntly.com/pinepro
TradingView Essential: https://qntly.com/tve

Pro Indicators: https://qntly.com/proind

YouTube: https://qntly.com/youtube
Discord: https://qntly.com/discord
Telegram: https://qntly.com/tel


Hi @QuantNomad, thank you for the script. Can you explain what does this part "(le and high > hprice ? false : le)" on line 24 mean? Thank you in advance!
Thanks, quant...it seems there is some repainting, I left the chart open for a while and noticed entries disappeared after refresh
QuantNomad aslamusman
@aslamusman, Can you send me screenshots for that?
aslamusman QuantNomad
@QuantNomad, sure I'll send them over on telegram. Thanks though keep up the great work
Thank you very much for your script.

Could you please explain in more detail how the indicator works?
- When and why does the entry appear in long / short?
- When should I open a position?
- When should I close it?
- Can you set up alerts to notify us of an entry?
Thank you very much and great job!
QuantNomad JuniorStaffy
@JuniorStaffy, hi, published a video about pivot points: https://youtu.be/aqulu594F_c
You can use the following script to understand pivot points a bit better (there is more stuff plotted) and also create alerts.
- When should I open a position?
You can open it on Alert
- When should I close it?
There is no position management in this strategy, you can try to have static PT/SL or trailing SL, something might work pretty good.
JuniorStaffy QuantNomad
@QuantNomad, Thank you very much for answering!!!! I have been doing a backtest in H1 adding a WMA of 150 periods. The strategy is to open a position when the indicator alerts you to a possible trade in favor of the WMA trend. The scores are very good!!! :)
I have not been able to add any alerts for when the signal of the indicator appears. Is it possible to add alerts?
Thank you so much for everything!!!
QuantNomad JuniorStaffy
@JuniorStaffy, Hi, check this script for alerts:
JuniorStaffy QuantNomad
@QuantNomad, Thank you very much!!! I think that is best your script
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