APIBridge, TradingView
Strategy Premise
A pivot point is a point of rotation. The prices used to calculate the pivot point are the previous period’s high, low, and closing price for a security. These prices usually take from a stock’s daily charts. However, the pivot point calculated using information from hourly charts.
An exponential moving average strategy, or EMA strategy, to identify the predominant trend in the market. It can also provide the support and resistance level to execute your trade.
Strategy Logic: Pivot Boss 4 EMA
Long Entry: When T Line Cross Over Short EMA Send LE
Long Exit: As SL or Target is hit. If SL/TGT not hit and Short EMA Cross Under Long EMA send LX, SE
Short Entry: When Short EMA Cross Under Long EMA Send SE
Short Exit: As Stop Loss or Target is hit. If SL/TGT not hit and T Line Cross Over Short EMA send SX, LE
Pivot Boss 4 EMA Strategy Parameters for TradingView Charts
Trigger Line: Trigger line refers to a moving-average plotted with the moving average convergence divergence
Short EMA: 13 Day Moving Average
Long EMA: 55 Day Moving Average
Quantity: Specify the trade quantity
Custom Stop Loss in Points: Movement in chart price against the momentum which will trigger exit
Custom Target in Points: Movement in chart price against the momentum which will trigger exit
TradingView Settings
STEP 1: Download The Pivot Boss 4 EMA Pine Script Algo here
STEP 2: Open desired Chart in trading View with normal Candlestick, Select desired timeframe of the chart, Go to the pine editor section, remove the default code, paste the downloaded code, save the file and to chart
STEP 3: Apply strategy to the chart, click on settings to optimize parameters for your own trading.
Setting Up Alert for Pivot Point
Before setting up an alert make sure that You select the desired script, timeframe, strategy settings, configure the API bridge and running. Click in settings add alert and paste {{strategy.order.comment}} in message box.
Important: do not change any settings during live trading.
NOTE: The pinescript works both with webhook alerts (TV Pro plan) and normal popup alerts (TV free plan).
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