Pivot Reversal LE
From MultiCharts
Pivot Reversal LE places a long entry Stop order on the High of next bar when a breakout of High Pivot point occurs.
Pivot High point is identified when the high price of the bar is above the high prices of a number of previous and subsequent bars (specified in Strength input). When a new Pivot High point is confirmed, an order is placed.
This signal generates a long entry only. Use Pivot Reversal SE for entering a short position.
Default Inputs
Strength (4) - number of lower highs that must be on each side of the Pivot High point.
