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 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 do so 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:

Signal Types

  1. Main Signals – by default are displayed by labels: Main Buy Sell Signals

      2. Mini Signals – by default are displayed by small arrows: 

Main Signals target is to identify the start of an up direction or down direction.

Example Chart:

PPA signals

Mini signals appear ONLY after Main signals showing additional breakout opportunities.

The Mini signals will only appear in the same direction as the main signal.

For example: Main Signal BUY means all following Mini signals are also BUY.

Breakout lines

By default signal breakouts display a pivot line to show you exactly where and at what price the breakout occurred to give your precise entry. 

For Main Signal the breakout pivot line will appear as a 2 pixel line (wider line) while the Mini Signal will appear as 1 pixel (thin line), These pixel values can be set on PPA settings.

Example Chart:

breakout line width

You can view ALL PPA pivots lines that did not have a breakout (displayed as thin dotted line) by clicking ‘Show All Pivot line’ in indicator settings.

Sensitivity

There are two ways to set the sensitivity:

  1. Predefined Presets
  2. Manual Sensitivity

PPA includes  a few predefined presets pivot lengths which you can use:

  • Manual
  • Sensitive – Min 1 / Max 1
  • Normal – Min 1 / Max 4
  • Less Sensitive – Min 2 / Max 4

Manual Sensitivity Settings:

You can 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’.

set sensitivity manually
As we see from PPA users, many like to experiment and find the best settings for trading style.

As a general thumb rule, A lower MIN/LAX Pivot Length (Example Min 1 and Max 1) value is the more suitable for scalping (like day trading), and higher MIN/LAX Pivot Length (Example  is Min 2 and Max 4), the more suitable for swing trading and catching bigger trends.

OTC NoiseFilter

OTC NoiseFilter is a false breakout filter for Main Signals. There are 3 type of OTC NoiseFilter:

  1. None
  2. Normal
  3. 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.

OTC NoiseFilter settings

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.
  • 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]

Select your desired alert and then from ‘Options’ choose desired behaviour (‘Only once’, ‘Once per bar close’, etc..) and press ‘Create’ button to activate the alerts.

How to set up PPA Alert example:

Candle Color Bars

Enabling candles 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 means a strong uptrend and strong red 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:

red bars candle example

Scheme colors

You can change the scheme colors of the indicators by changing “Signals Color Scheme” in the settings ‘STYLE’ section, this will affect all Pivot Points Algo colors (Signal colors, Pivot lines colors, bar colors).

There are few scheme settings to choose from:

  • Classic
  • Dark
  • Black/White
  • Sky
  • Custom (You set the colors in settings ‘COLORS’ Section)

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 Line. Additionally, false breakout can happen if OTC NoiseFilter filtered (ignored) a pivot breakout.

false pivot breakouts

Confirmations IDEAS with Pivot Points 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.
  • Mini Confirm: After a Main Signal, Wait for Mini Signal to confirm Main Signal to enter a position.
  • Next Candle confirmation: Wait for the next candle to confirm signals.
  • 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. 
  • Do you have more ways? Please share with us.

As the author of Pivot Points Algo I am frequently surprised by how versatile PPA is. Users find variety of ways to use PPA. 

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, and the advantage is that the signal is 100% confirmed.

Note that you can set it alert to ‘Only Once’, 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:

Have a question? Feature Request? Get Support Here

There are two main ways to get support:

  1. By filling the contact form at https://algo.win
  2. Contact Damn103 directly via Tradingview: https://www.tradingview.com/u/dman103/

Live Trading Simulation Videos

  1. Twitch Live Real time trading simulation with PPA over twitch. Note: Not always active and you can request which asset to simulate live trading.
  2. Youtube 5 hours of real time trading simulation recording with PPA.