Pivot Period

I simplified parameters as much as possible so configuring the indicator is pleasant and intuitive.

note

Indicator settings are ordered by frequency of use — the most used are at the top.

tip

Almost every parameter in the indicator has a help tooltip — just click it: 

 

The core indicator configuration reduces to two parameters:

1. "Pivot Period" — defines which highs and lows we’ll look for and use.
2. "Max deviation between pivots (%)" — how far apart in price two Pivots can be to count as the same level.

 

Pivot Period

A Pivot is a point where price reached a local high or low. The indicator finds and draws support/resistance levels based on pivots.

First, enable Pivot Chars at the top of settings:

Now you’ll see the highest and lowest price peaks on the chart as small triangles:

How are they determined?

We search for and display only those peaks which were not exceeded at least 20 candles to the left and 20 to the right.

If you use the ruler tool or hold Shift and click on the chart, you can count how many candles to the left or right are lower than the current candle. In the example below, there are 39 candles to the left before price is higher:

And 54 candle to the right:

We configured the parameters to search for pivots with Left = 20 and Right = 20, so this candle qualifies and is marked with a small triangle.

warning

Do not use too small values. After hundreds of tests, the practical minimum is about 15–20 candles left and right.

note

The larger the Left and Right in Pivot Period, the rarer the maxima/minima you’ll find.

Compare: 1.Left 20 / Right 20 vs 2. Left 100 / Right 100:

Increasing these values removes noise and focuses on truly important highs and lows.

You can hide Pivot Chars from display at any time — the indicator will still use them even if they’re not visible.