Pivot Points Trading Signals — Complete TradingView Guide

//@version=5
indicator("Pivot Points Trading Signals", overlay=true)

// Input parameters
pivotType = input.string("Daily", "Pivot Type", options=["Daily", "Weekly", "Monthly"])
showAllLevels = input.bool(true, "Show All Levels")
showSignals = input.bool(true, "Show Buy/Sell Signals")
srcHigh = input.source(high, "High Source")
srcLow = input.source(low, "Low Source")
srcClose = input.source(close, "Close Source")

// Pivot calculation function
f_pivot_levels(h, l, c) =>
    pp = (h + l + c) / 3
    r1 = pp * 2 - l
    r2 = pp + (h - l)
    r3 = h + 2 * (pp - l)
    s1 = pp * 2 - h
    s2 = pp - (h - l)
    s3 = l - 2 * (h - pp)
    [pp, r1, r2, r3, s1, s2, s3]

// Determine lookback based on pivot type
lookback = pivotType == "Daily" ? 1 : pivotType == "Weekly" ? 7 : 30

// Fetch prior period high, low, close
prevHigh = ta.valuewhen(change(time(lookback * 86400000)) != 0, srcHigh, 1)
prevLow = ta.valuewhen(change(time(lookback * 86400000)) != 0, srcLow, 1)
prevClose = ta.valuewhen(change(time(lookback * 86400000)) != 0, srcClose, 1)

[pp, r1, r2, r3, s1, s2, s3] = f_pivot_levels(prevHigh, prevLow, prevClose)

// Signal conditions
abovePP = close > pp
belowPP = close < pp
brokeR1 = ta.crossover(close, r1)
brokeS1 = ta.crossunder(close, s1)
bounceAtPP = ta.crossunder(low, pp) and close > pp  // touched PP and bounced
rejectR1 = ta.crossover(high, r1) and close < r1     // touched R1 and rejected

// Buy signals
buySignal = brokeR1 and abovePP
buyScalp = bounceAtPP

// Sell signals
sellSignal = brokeS1 and belowPP
sellScalp = rejectR1

// Plot levels
ppColor = color.new(#2962FF, 20)
r1Color = color.new(#4CAF50, 25)
r2Color = color.new(#4CAF50, 35)
r3Color = color.new(#4CAF50, 50)
s1Color = color.new(#FF5252, 25)
s2Color = color.new(#FF5252, 35)
s3Color = color.new(#FF5252, 50)

plot(showAllLevels ? pp : na, "PP", ppColor, line.style_solid, 2)
plot(showAllLevels ? r1 : na, "R1", r1Color, line.style_dashed, 1)
plot(showAllLevels ? r2 : na, "R2", r2Color, line.style_dotted, 1)
plot(showAllLevels ? r3 : na, "R3", r3Color, line.style_dotted, 1)
plot(showAllLevels ? s1 : na, "S1", s1Color, line.style_dashed, 1)
plot(showAllLevels ? s2 : na, "S2", s2Color, line.style_dotted, 1)
plot(showAllLevels ? s3 : na, "S3", s3Color, line.style_dotted, 1)

// Visual signals
plotshape(showSignals and buySignal, "Buy Signal", shape.triangleup, location.belowbar, color=#4CAF50, size=size.small, text="BUY", textcolor=color.white)
plotshape(showSignals and sellSignal, "Sell Signal", shape.triangledown, location.abovebar, color=#FF5252, size=size.small, text="SELL", textcolor=color.white)
plotshape(showSignals and buyScalp, "PP Bounce", shape.diamond, location.belowbar, color=color.new(#FF9800, 30), size=size.tiny, text="SCALP")
plotshape(showSignals and sellScalp, "R1 Reject", shape.diamond, location.abovebar, color=color.new(#FF9800, 30), size=size.tiny, text="REJECT")

// Labels
if showAllLevels
    label.new(bar_index, pp, "PP", style=label.style_label_center, color=color.new(#2962FF, 60), textcolor=color.white, size=size.tiny)
    label.new(bar_index, r1, "R1", style=label.style_label_center, color=color.new(#4CAF50, 60), textcolor=color.white, size=size.tiny)
    label.new(bar_index, s1, "S1", style=label.style_label_center, color=color.new(#FF5252, 60), textcolor=color.white, size=size.tiny)

// Alert conditions
alertcondition(buySignal, "Breakout Above R1", "Price broke above R1 resistance - bullish momentum")
alertcondition(sellSignal, "Break Below S1", "Price broke below S1 support - bearish momentum")
alertcondition(bounceAtPP, "Bounce at PP", "Price bounced at the daily pivot point level")
alertcondition(rejectR1, "Rejection at R1", "Price rejected at R1 resistance level")
alertcondition(brokeR1, "R1 Cross Over", "Price crossed above R1 level")
alertcondition(brokeS1, "S1 Cross Under", "Price crossed below S1 level")