PivotBoss Tool (PART 1)

10 avr. 2023

Hello Everyone,

This indicator is being published on TradingView to help traders solve their multiframe analysis issue and at the same time get additional information of different timeframe like - Strength, Momentum and Central Pivot Range relationships all under one single frame.

This indicator is based on the concepts of Secrets of Pivot Boss by Mr.Frank Ochoa and strives to provide more insightful information of pivot points and other general indicators being used by traders on day-to-day basis in the simplest format possible so that traders of all kinds can relate to the same.

Below is the brief information of the indicator table you see in the layout of the above chart -
-This is the most interesting part of the indicator where the user gets to the Pivot Trend, RSI strength and Central Pivot Range (CPR) relationship all under one table which comes to be very handy during Intraday trading and Swing/Positional Trading.

#Pivot Trend
This column gives the user the information regarding price movement near to pivot points across multiple timeframes in a single frame which gives the user the accessibility to track the trend in different time frames, to make the information readily available colour code are included in the table which is customisable in the hands of the user and below is the explanation for the same -
- GREEN (Above H3)
- GREY (Between H3-L3)
- RED (Below L3)

#RSI
This column gives the user the information regarding price movement near to RSI values across multiple timeframes in a single frame which gives the user the accessibility to track the momentum in different time frames, to make the information readily available colour code are included in the table which is customisable in the hands of the user and below is the explanation for the same -
- GREEN (Above 70)
- GREY (Between 30 to 70)
- RED (Below 30)

#Central Pivot Range (CPR) Relationship
This column gives an idea of the trend direction and intensity which is exactly formulated according the concepts of PivotBoss Book and it also states the relationship of CPR's with customisable colour codes in the indicator settings, to make the information readily available colour code are included in the table which is customisable in the hands of the user and below is the explanation for the same -
There are generally six possible relationships for CPR compared to previous CPR where the timeframe can be variable but the relationship identification stays constant which is depicted as below -
- GREEN
1) Dark Green denotes "Higher Value CPR Relationship"
2) Light Green denotes "Overlapping Higher Value CPR Relationship"

- RED
3) Dark Red denotes "Lower Value CPR Relationship"
4) Light Red denotes "Overlapping Lower Value CPR Relationship"

- GREY
5) Denotes "Outside Value CPR Relationship"

- YELLOW
6) Denotes "Inside Value CPR Relationship"

This is a very basic tool created to identify Strength, Momentum and Central Pivot Relationship (CPR) across different timeframes so that the user is able to identify the broader aspect of the stock in a single frame and thus can execute his trading skills with optimum efficiency.
This indicator will be updated with time and depending on community's feedback and requirements.

Credits -
- Mr. Frank Ochoa (Concepts and ideas from the book 'Secrets of PivotBoss' )
- TradingView (Providing a platform to traders to simply their trading through 'PineScript')

Regards,
Mukkull

5 août 2023

Notes de version

Upgrade 1 -
We have introduced and upgraded the Pivot Time-frames options so as it can be used for as low as 5min CPR's and pivot points to as high as 1year CPR's and pivot points which will give a power boost to the Intraday traders including scalpers as well!!