Knowledge Base
Pivot() Function
The Pivot function uses the same functionality as the Pivot Labels tool to identify turning points in either a price chart or an indicator.
To calculate the value of the last 15 bar pivot high, and show in a watchlist column or Show Plot:
To scan for when the closing price crosses below a 10 bar pivot low:
To highlight on a the price chart when the RSI(14) has a 20 bar pivot low using a Show Bar (note pivot lows have a negative number, so need to be below 0 to be true):
IMPORTANT NOTE: The value of the last label can change as new data gets added to the chart.
Blog Posts
See these blog posts on using the Pivot function to find breakouts and divergences:
An Easy Way to Find Breakouts
Identifying Divergences
To calculate the value of the last 15 bar pivot high, and show in a watchlist column or Show Plot:
//Define the pivot criteria
V1=PIVOT(MIN=15, TYPE=High);
//Get the high price when the last V1 pivot occurred
VALUEWHEN(HIGH(), V1)
To scan for when the closing price crosses below a 10 bar pivot low:
//Define the pivot criteria
V1=PIVOT(MIN=10, TYPE=Low);
//Get the low price when the last V1 pivot occurred
V2=VALUEWHEN(LOW(), V1);
CLOSE() CrossesBelow V2
To highlight on a the price chart when the RSI(14) has a 20 bar pivot low using a Show Bar (note pivot lows have a negative number, so need to be below 0 to be true):
PIVOT(RSI(BARS=14),MIN=15, TYPE=Low)
IMPORTANT NOTE: The value of the last label can change as new data gets added to the chart.
Blog Posts
See these blog posts on using the Pivot function to find breakouts and divergences:
An Easy Way to Find Breakouts
Identifying Divergences