Library "TrendPivots"
This library provides functions to search for bullish and bearish divergences between pivots and indicators. Functions search for higher highs and lower lows, automating lines, labels and signals for technical analysis and strategies.
method maxBeforeLast(id)
Method function to get the maximum price before the last, stored in an array pivotPoint.
Namespace types: pivotPoint[]
Parameters:
id (pivotPoint[]): (array pivotPoint) The pivotPoint array to inspect.
Returns: pivotPoint
method minBeforeLast(id)
Method function to get the minimum price before the last, stored in an array pivotPoint.
Namespace types: pivotPoint[]
Parameters:
id (pivotPoint[]): (array pivotPoint) The pivotPoint array to inspect.
Returns: pivotPoint
method pivotLine(id, a, b, color)
Sets the coordinates of a given line using two pivotPoint variables.
Namespace types: series line
Parameters:
id (line): (line) Existing line
a (pivotPoint): (pivotPoint) First pivotPoint.
b (pivotPoint): (pivotPoint) Second pivotPoint.
color (color): (color) The desired color. Default is red.
Returns: void
bearishDivergence(pivotArray)
Look for bearish divergence in a pivotPoint array cointaining pivot highs.
Parameters:
pivotArray (pivotPoint[]): (array pivotPoint) The pivotPoint array to inspect.
Returns: bool True if bearish divergence was found.
bullishDivergence(pivotArray)
Look for bullish divergence in a pivotPoint array cointaining pivot lows.
Parameters:
pivotArray (pivotPoint[]): (array pivotPoint) The pivotPoint array to inspect.
Returns: bool True if bullish divergence was found.
uptrendPivot(leftBars, rightBars, indicator, reset, plotLabel, plotLine)
Detects higher highs, higher lows and bearish divergence in an uptrend. Creates a line when bearish divergence is found, and labels.
Parameters:
leftBars (int): (int)
rightBars (int): (int)
indicator (float): (float) RSI, MACD or other value.
reset (bool): (bool) A bool variable to reinitiates the pivot computation, such as time changes, crossovers, or another.
plotLabel (bool): (bool) If true (default), plots labels to higher highs and for each pivot low. Default = true.
plotLine (bool): (bool) If true (default), plots a line linking the lower lows with divergence. Default = true.
Returns: [pH_point, pL_point, lowerLow, lowerHigh, bullish_divergence]
downtrendPivot(leftBars, rightBars, indicator, reset, plotLabel, plotLine)
Detects lower lows, lower highs, and bullish divergence in a downtrend. Creates a line when bullish divergence is found, and labels.
Parameters:
leftBars (int): (int)
rightBars (int): (int)
indicator (float): (float) RSI, MACD or other value.
reset (bool): (bool) A bool variable to reinitiates the pivot computation, such as time changes, crossovers, or another.
plotLabel (bool): (bool) If true (default), plots labels to lower lows, and for each pivot low.
plotLine (bool): (bool) If true (default), plots a line linking the lower lows with divergence. Default = true.
Returns: [pH_point, pL_point, lowerLow, lowerHigh, bullish_divergence]
pivotPoint
The coordinates of a pivot point and corresponding indicator value.
Fields:
x (series int): (int) Time.
y (series float): (float) Price.
indicator (series float): (float) Indicator value.