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Trying to Create a Local Maximum Pivot Indicator using ThinkScript
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Trying to Create a Local Maximum Pivot Indicator using ThinkScript

  #1 (permalink)
Trading Apprentice
El Paso Texas/USA
 
Futures Experience: Intermediate
Platform: ThinkorSwim
Favorite Futures: Options
 
Posts: 2 since Apr 2014
Thanks: 0 given, 0 received

Trying to Create a Local Maximum Pivot Indicator using ThinkScript

Hello all,
Iíve been working on trying to create an indicator that would show a dot above a local maximum pivot point. Iím defining these pivot highs as a bar that has a higher high than the bar that came before it and the bar that comes after it.
If we define:

N Ė as the current (right from middle) bar,
N-1 Ė as the previously closed (middle) bar, and finally,
N-2 Ė as the bar to the left of the middle bar

Logically speaking, Iím thinking the code should be something similar to this:

N-1 > N and N-2

As the indicator is going through and looking over each set of 3 bars, itís determining if the N-1 bar is greater than the N and N-2 bars. Iíve tried a number of ways to program this concept but no luck so far

There is probably many easy ways to accomplish this but I'm having trouble doing so.

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  #2 (permalink)
Trading Apprentice
El Paso Texas/USA
 
Futures Experience: Intermediate
Platform: ThinkorSwim
Favorite Futures: Options
 
Posts: 2 since Apr 2014
Thanks: 0 given, 0 received

The code for this actually turned out to be pretty simple to right! It took me a few hours though to figure out how to express this in the syntax:

plot pivotH_1st = high[-1] < high && high > high[1];
plot pivotL_1st = low[-1] > low && low < low[1];
pivotH_1st.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
pivotL_1st.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);


(Included image shows the results)

Now I want to take this script to the next level and use the 1st order pivot highs and lows as inputs for the 2nd order pivots. The logic in the first post explains (at least I think it does). How would I store the values of the 1st order pivots so that they can be used to calculate the second round of pivots? Any ideas would be greatly appreciated!

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