Pivot Points Algo Quick Manual
Table of Contents
Introduction
Pivots Points Algo (PPA) is a pivot breakout indicator for Tradingview with its own adaptation algorithm for various markets situations, designed to sufficiently improve your trading decision making and hence, increase your win rate.
Benefits
- Early signal triggering.
- Made for different trading styles no matter if it’s scalping, swing trading or long investment trading.
- Small amount of possible configurations, find your signal sensitivity fast!
- No Hidden gems! Know exactly where you enter the trade as PPA visually shows the pivot lines and price breakout.
- Adaptation to any time frame or asset.
Adding Pivots Points Algo into your chart
First open Tradingview and open a chart on which you want to add the Pivots Points Algo.
After subscription to Pivot Points Algo you will gain access to the indicator, afterwards, all you have to do is go to a chart on Tradingview and open the list of indicators. To open the list of indicator click on the ‘Indicators’ button on the top of the chart menu and type “PPA” or go to the “Invite-only scripts” tab and select “Pivot Points Algo”.
After that, simply click on the Pivot Points Algo indicator and it will be added to the chart.
Adding Pivot Points Algo example: Simply type “PPA” in the search input.
Signal Types
- Main Signals – by default are displayed by labels:
- Mini Signals – by default are displayed by small triangles:
Main Signals target is to identify the start of an up direction or down direction.
Example Chart:
Mini signals appear ONLY after Main signal, showing additional breakout opportunities of the same direction of the Main signal.
The Mini signals will only appear in the same direction as the main signal.
For example, after a Main BUY signal, ONLY Mini BUY signals will follow. After Main SELL signal, ONLY Mini SELL signals will follow.
Bar coloring is enabled in above Example chart, Green bar suggests an up trend direction and Red bar suggests a down trend. More on that on Color Bars section.
Breakout lines and Breakout Price
By default signal breakouts display a pivot line to show you exactly where and at what price the breakout occurred to give you a precise entry.
MAIN Signal pivot line appears as a 2 pixel line (wider line).
MINI Signal pivot line appears as 1 pixel (thin line).
False breakouts are plotted as dashed thin lines. More on false breakouts.
The color of the line will change according to the type of signal – by default green for buy and red for sell.
Options for pivot breakout lines and breakout price labels:
Note that by Default ‘Show Pivot Price Label’ is DISABLED. Enabling this option will add the price value at each breakout, above or below the pivot line.
Example Chart:
You can enable ALL PPA pivots lines that did not have a breakout (displayed as thin dotted line) by clicking ‘Show All Other Pivot lines (dotted line)’ in the indicator settings.
Sensitivity
There are two ways to set the sensitivity:
- Predefined Presets
- Manual Sensitivity
PPA includes a few predefined presets pivot lengths which you can use:
- Manual – (Set by default)
- Sensitive – Min 1 / Max 1
- Normal – Min 1 / Max 4
- Less Sensitive – Min 2 / Max 4
Manual Sensitivity Settings:
You can manually set the sensitivity of PPA by modifying “MIN Pivot Length” and “MAX Pivot Length” parameters in the indicator settings.
You must set ‘Pivot Sensitivity Presets’ to ‘Manual’ and experiment with the lengths yourself to find the best fit for your trading style and type.
Note that ‘MIN Pivot Length’ should always be less or equal to ‘MAX Pivot Length’.
By Default ‘Pivot Sensitivity Presets’ is set to ‘Manual’ and ‘Min Pivot Length’ and ‘Max Pivot Length’ are to set 1. This is the most sensitive settings for the Pivot Points Algo.
As we see from PPA users, many like to experiment and find the best settings for their trading style.
As a general thumb rule, A lower MIN/MAX Pivot Length (Example Min 1 and Max 1) value is more suitable for scalping and day trading, and higher MIN/MAX Pivot Length (Example is Min 2 and Max 4), value is more suitable for swing trading to catching bigger trends.
OTC NoiseFilter
OTC NoiseFilter is a false breakout filter for MAIN Signals and MINI signals. There are 3 type of OTC NoiseFilter:
- None
- Normal
- Strong
None: No noise filter, breakouts will trigger main signals without any filtering.
Normal: Moderate filtering, filters some false breakouts, more focused on candle pattern.
Strong: Stronger filtering, also gives extra importance to micro volume changes.
You may experience which NoiseFilter OTC setting is suitable for you, as a general thumb rule the stronger the filter is, the less signals you will receive, hench, suitable for larger swings.
Alerts
PPA includes various alert types for Tradingview.
How to setup PPA alerts with tradingview:
There are several ways to add alerts to a tradingview chart, please refer to this tradingview tutorial:
https://www.tradingview.com/support/solutions/43000595315-how-to-set-up-alerts/
To add Pivot Points Algo alert you simply click the ‘Alert’ button in one of the described ways here, afterwards at ‘condition’ dropdown select ‘PPA {version}’, than you will be able to select from the dropdown box the following alerts:
- BUY MAIN – Triggers only BUY MAIN signals.
- SELL MAIN – Triggers only SELL MAIN signals.
- BUY COMBO – Triggers only BUY MAIN and MINI signals.
- BUY MAIN AND FIRST BUY MINI -Triggers only MAIN BUY and SELL and it’s first BUY MINI.
SELL MAIN AND FIRST SELL MINI – Triggers only SELL MAIN and it’s first SELL MINI.
BUY & SELL MAIN AND FIRST BUY & SELL MINI – Triggers MAIN BUY or SELL signal and it’s first mini. - SELL COMBO – Triggers only SELL MAIN and MINI signals.
- BUY & SELL MAIN – Triggers BUY MAIN and SELL MAIN signals.
- To ALL Signals – Triggers all signals above.
On alert message popup you will receive a signal code as following:
For Main Signal:
- Buy [1]
- Sell [-1]
For Mini Signal:
- Buy [2]
- Sell [-2]
You can use different ‘Options’ for the alert like ‘Once Per Bar’ or ‘Once Per Bar Close’. Selecting ‘Once Per Bar‘ will trigger alert once a signal accord, however, it does not mean the bar will close with that signal. Please refer to false breakouts. and Does PPA Repaints?
How to set up PPA Alert:
Color Bars
Enabling Color Bars can enhance your understanding of how the trend goes, this method of bar coloring is preferred by some traders.
You can enable ‘Color Bars’ from ‘STYLE’ Section from PPA settings:
Strong bar colors
Strong color of a bar show us that we are at a strong up trend or down trend.
For example, using the default color scheme (green and red), strong green bar means a strong uptrend and strong red bar means a strong downtrend.
Weak bar colors
Weak color shows us that the string trend is weakening and might reverse to the opposite direction.
Here is a chart example:
Scheme colors
You can change the scheme colors of the PPA by changing “Signals Color Scheme” in the ‘STYLE’ section, this will affect all Pivot Points Algo colors (Signal colors, Pivot lines colors, bar colors, etc…).
There are few scheme settings to choose from:
- Classic – Default
- Dark – Darker green/red.
- Black/White – as name suggests.
- Sky – blue/white variant colors.
- Custom (Default, allowing you to set the colors in ‘COLORS’ Section)
By selecting ‘Custom’ Scheme in the dropdown, you’ll be able to set PPA colors in the ‘COLORS’ section, to your prefered colors.
False Breakouts
False breakouts are pivot breakouts that happen but do not hold to trigger Buy or Sell signals (Applies for Main and Mini signals).
For example, Candle High touches an upper pivot line, but does not close above the pivot line, we get a false breakout.
These False pivot breakouts are shown by Dashed Lines. Additionally, false breakout can happen if OTC NoiseFilter filtered (ignored) a pivot breakout.
Strategies with Pivot Point Algo
There many different ways you can use PPA, here we’ll describe a few confirmation strategy:
- Base Strategy: Use PPA along with your own methods to confirm entry. You will find out that in many cases PPA is correct, however, If trade goes wrong, make sure you have an exit strategy like stop loss or in other words, manage your profits and losses (money management).
- Next Candle Sell: Buy at breakout and sell at next candle close or X candles afterwards.
- Mini Confirm: After a Main Signal, Wait for Mini Signal to confirm Main Signal to enter a position.
- Pivot Bands: Use pivot bands as stop loss.
- Multi Time frame: You can use two PPA’s with a splitted screen while each screen has a different time frame. First the higher time frame needs to show the direction and the lower time frame will confirm the entry.
As the author of Pivot Points Algo I am frequently surprised by how versatile PPA is. Users find variety of ways to use PPA solo or with other indicators.
Do you have more ways? Please share with us and you might be granted with free usage of PPA.
Does PPA Repaints?
Only the last candle signal can change, for example, having a FALSE buy breakout is represented as ‘dashed line’ , it means we had a BUY signal, but before the end of the candle it DID NOT close as a BUY breakout.
This is a behavior you would want and expect for the last candle, giving you the opportunity to see the real state of the last candle, otherwise, zero repaint in the past.
You can wait for the next candle to confirm the signal, in case you do confirm the breakout at candle close, usually you WON’T ENTER A TRADE as early as if you would enter position at the actual breakout. This is important to remember as entering a position early can be the difference between winning trade or a losing trade. In case it is a false breakout and you entered a position, you still have a winning chance, breakout might confirm next candles, if not, be ready with your exit strategy.
Automate Trading
You can automate PPA with other systems like 3Comma and such to automatically Buy and Sell using Tradingview Alert webhooks.
It is recommended to set Alerts to “Once Per Bar Close” to confirm signal after bar close.
The disadvantage of settings “Once Per Bar Close” is that you get the signal one candle later (miss early entry), and the advantage is that the signal is 100% confirmed.
Note that you can set it alert to ‘Only Once Per Bar’, however, Buy or Sell Signals on current real-time bar, is not 100% guaranteed to stay at bar close, if you can handle this situation with your automation logic you are fine, otherwise it is recommended to set alert to “Once Per Bar Close” which confirms signal at bar close.
More on WebHooks on tradingview: https://www.tradingview.com/support/solutions/43000529348-about-webhooks/
Unsubscribe From Service (PayPal)
Most users subscribe using their PayPal account,hence, you can easily unsubscribe from your PayPal account.
To unsubscribe from the subscription of PPA please use one of the following methods:
- You can access your account by going into https://algo.win and pressing “My Account” at the top menu. In your account you can manage your subscription including canceling if required.
- From PayPal: explained here.
- You can inform us you wish to cancel your subscription.
Have a question? Feature Request? Get Support Here
There are two main ways to get support:
- By filling the contact form at https://algo.win
- Contact Damn103 directly via Tradingview: https://www.tradingview.com/u/dman103/
Live Trading Simulation Videos
- Twitch Live Real time trading simulation with PPA over twitch. Note: Not always active and you can request which asset to simulate live trading.
- Youtube 5 hours of real time trading simulation recording with PPA.