SL/TP Trade Manager Template for SignalSync.toAutomated Trade Execution & Copy Trading
A modular, signal-agnostic trade management engine built to work with SignalSync.to.
This template does not generate trade entries itself . Instead, it takes a Long/Short trigger from any compatible PulseWire indicator and handles everything downstream — initial stop-loss placement, ATR-based trailing, TP1/TP2 tracking, trade timeouts, and webhook-ready JSON alerts for automated execution.
It is designed as a reusable management layer: connect the same tested trade-management logic to different signal-generating indicators without duplicating the underlying code.
HOW IT WORKS
* Connect any signal source
Point the Long Trigger and Short Trigger inputs to the corresponding alert conditions from your signal indicator.
* Controlled entry timing
By default, the template applies a one-bar offset: a signal confirmed on bar N triggers the entry on the open of bar N+1. This follows standard non-repainting execution. The offset can be disabled when the connected indicator generates its trigger after bar close.
* Flexible initial stop-loss
Set the initial SL using an ATR multiple, or pull it from an external structural level such as a swing high/low or FVG edge. An optional opposite-level input can widen the stop to a structural floor/ceiling, but will never tighten it.
* Two trailing modes
Choose between:
* Continuous: re-evaluates the trailing stop on every eligible bar after the configured delay.
* Stepped: updates only at fixed bar intervals, useful for reducing SL-update noise in choppy markets.
* Independent TP1 / TP2 tracking
TP1 and TP2 are calculated using ATR multiples and tracked independently from the trailing stop. Each target has its own alert condition.
* Automatic timeout
Optionally force-close trades that remain open for more than a configured number of bars without reaching their SL or trailing exit.
VISUALS
* Entry Zone
Displays the initial SL/TP1 range at the moment of entry. The zone remains frozen even when the trailing stop subsequently moves.
* Live trade status
Entry zones are color-coded:
* Gray — trade still open or closed BE
* Green — TP1 reached
* Red — initial SL breached
* Zone Stats Table
Tracks the results of the most recent entry zones, including TP, SL and neutral/BE outcomes, together with the hit rate. This provides a quick view of how the connected signal is performing without relying on the Strategy Tester.
* Live management levels
Separate trailing SL, TP1 and TP2 lines are plotted on the chart, with pip-distance labels for both the entry zone and current trailing stop.
ALERTS & AUTOMATION
The template provides six alert conditions :
1. Long Entry
2. Short Entry
3. Stop Loss Hit
4. TP1 Hit
5. TP2 Hit
6. Timeout Exit
Each alert includes a pre-built JSON payload with PulseWire placeholders , capturing the relevant values at the exact moment the alert fires.
The payload is designed as a starting point for integration with SignalSync.to . Fields such as `traderIdKey`, `tradeSide`, `relativeTakeProfit`, and `relativeStopLoss` can be adapted to your SignalSync configuration and credentials.
This allows the trade-management layer to send automated execution instructions directly through your PulseWire → SignalSync → cTrader workflow.
NON-REPAINTING DESIGN
All internal trade-management logic uses confirmed-bar data and proper offsetting .
There is no lookahead in the entry/exit logic, and the alert payload captures values when the event actually occurs rather than relying on values that may change later as the chart updates.
IMPORTANT
This is a trade-management layer, not a signal generator .
It will not produce entries or plot trade-management levels until it is connected to a compatible indicator source through `input.source()`.
For educational and informational purposes only. This template is not financial advice. Test thoroughly in PulseWire and on a demo account before connecting it to any live automated execution system.
Indicator
Prop Firm Risk Guard I EonMetrics Prop Firm Risk Guard
Prop Firm Risk Guard is a risk dashboard and position size calculator for prop firm challenge and funded-account traders. It keeps the numbers that decide whether your account survives — the Daily Loss Limit, the Max Drawdown floor and the size of your next trade — on one screen, derived from one shared account state.
Stated plainly up front: PulseWire cannot see your broker account. Your balance and today's P&L are MANUAL inputs — you type them in, the script does the limit math and the sizing math. Entry, Stop and Take Profit are also yours: the script never calculates or suggests any of them, it only draws the levels you decided on and does the arithmetic. The only live, price-driven element is the Entry/SL/TP lines and their cross alerts. No signals, no trade suggestions.
🔶 WHY ONE SCRIPT
A challenge usually fails through one compounding mistake: a trade sized without checking how much of today's loss allowance is actually left, so a routine stop-out becomes a daily breach. That check only works when the daily limit, the drawdown floor and the position size are computed from the same account state at the same moment — which is why they are one dashboard instead of separate tools you would have to cross-reference by hand. The last sizing row makes the link explicit: it compares one full stop-out against your remaining daily room and turns red BEFORE the trade if it doesn't fit.
🔶 WHAT IT DOES
Daily Loss Limit — enter your firm's daily loss % and its basis (starting or current balance). Today's P&L is a NET number, wins offset losses. Because firms word this rule two ways, both models are supported: Floor (the day has a fixed equity floor, so intraday profit adds room before it — the common model) and Hard Cap (the allowed loss is fixed, profit does not extend it). The table shows the remaining allowance in money and a status ladder: OK → CAUTION (50% used) → DANGER (80%) → BREACHED.
Max Drawdown — Static (floor fixed below the starting balance) or Trailing (floor follows the equity high-water mark). Shows the floor as an actual money level and the buffer above it, with the same status ladder.
Position sizing — risk per trade as % of balance or a fixed amount, planned entry (or live price) and stop. Returns the size in units, the forex conversion to 100k lots and the notional value. A Contract Multiplier input keeps the math correct on futures (e.g. ES = 50, GC = 100) as well as stocks, crypto and forex.
Take Profit (optional) — add your own TP price to see the R:R ratio and the money gain if it hits, using the same calculated size. If the TP sits on the wrong side of entry for your direction, the cell flags it instead of showing a meaningless ratio.
Entry / SL / TP lines — your levels drawn on the chart, with three alert conditions that fire when price crosses any of them.
🔶 HOW TO USE
1. Settings → Account: starting balance, current balance; high-water mark for trailing-drawdown firms (0 = auto).
2. Prop Firm Rules: copy the exact numbers and models from your firm's dashboard.
3. During the session, keep Today's P&L updated — the daily section only knows what you tell it.
4. Before a trade: set risk, entry and stop; read the size; make sure the last row is not red.
5. Optional: add a TP for R:R, and set alerts on the three price-cross conditions.
🔶 SETTINGS
Account (balances, high-water mark) · Prop Firm Rules (daily loss % + basis + Floor/Hard Cap, max drawdown % + Static/Trailing, profit target) · Today's P&L · Position Sizing (risk mode, entry/stop/TP, contract multiplier, lines toggle) · Table (position, text size).
This tool does the arithmetic of your firm's rules and your own trade plan. It does not know your account, does not predict anything and does not tell you what to trade.
Part of the EonMetrics toolset.
Indicator
Candle Countdown TimerA simple chart-based timer designed to help traders stay aware of upcoming candle closes.
Trading Timer provides a real-time countdown to the next candle close directly on your chart, helping you prepare for timeframe changes, review setups, and maintain a consistent trading routine.
Built for discretionary traders who rely on candle closes as important decision points, the indicator provides a clean visual countdown, optional alerts, and a compact dashboard that stays out of the way of your analysis.
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Features
✓ Real-time candle close countdown
✓ Customisable timeframe selection
✓ Alerts before candle close
✓ Automatic symbol recognition
✓ Mobile notifications through PulseWire alerts
✓ Compact dashboard display
✓ Minimal mode for a cleaner workspace
✓ Colour-coded timing zones:
Countdown Phases:
🔵Dark grey — waiting
🟡Yellow — approaching close
🔴Red — final minute
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Alert Setup
To receive notifications, create a PulseWire alert after adding Trading Timer to your chart.
Recommended setup:
Add Trading Timer to your preferred chart timeframe (for example, 15 minutes).
Open PulseWire's Alert menu.
Under Condition, select:
Trading Timer → Any alert() function call
Choose your preferred notification options
Create the alert.
The alert is linked to the chart where it was created. If you want alerts for multiple markets (for example Gold and NAS100), create a separate alert for each chart.
For mobile notifications, make sure PulseWire app notifications are enabled on your device.
Example Setup:
For a 15-minute trading setup, set the indicator to 15 minutes and choose your preferred warning time (for example, 1 minute before close)."
The timer keeps you informed so you can focus on the chart instead of watching the clock!
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Intended Use
Trading Timer is a timing and workflow tool. It does not provide trade signals, entries, exits, or predictions.
It is designed to help traders:
Prepare before candle closes
Review setups at consistent intervals
Manage multi-timeframe workflows
Stay disciplined with candle-based analysis
Suitable for markets including forex, futures, indices, commodities, stocks, and crypto.
---
How it looks on the charts:
Compact Dashboard Display:
Indicator
Indicator
Indicator
Geopbytech Risk Based Lots Calculator📊 Geopbytech – Risk Based Lots Calculator
Built by Juan C. Delgado
A lightweight and fast position size calculator designed to help traders determine optimal lot size directly from the PulseWire chart.
No more switching to external websites during live execution.
Simply input:
Account Size (USD)
Risk Ratio %
Stop-Loss distance (pips or points)
The tool instantly calculates the correct lot size based on proper risk management.
🔹 How It Works
The calculator determines:
Risk ($) = Account Size × Risk %
Lot Size = Risk ($) ÷ (Stop-Loss Units × $ Value per Unit per 1 Lot)
Everything updates instantly as you change values.
🔹 Example
Account Size Risk % Stop Loss Result
$10,000 1% 20 pips 0.50 lots
$5,000 1% 15 pips 0.33 lots
$8,000 2% 30 pips 0.53 lots
🔹 Default Configuration (Forex – EURUSD)
By default, the script is optimized for standard Forex pairs like EURUSD.
You only need to:
Enter Account Size
Enter Risk %
Enter Stop-Loss in pips
The script automatically calculates pip value using standard 100,000 contract size.
🔹 Trading Gold (XAUUSD)
If you are trading Gold:
Enable:
✔ Override $ per unit (non-FX)
Then adjust:
• Override $ per 1 unit per 1 lot
(or use Custom Unit Size if needed depending on broker specification)
Because gold brokers may use different contract sizes.
🔹 Trading Indices
For indices (NAS100, US30, SPX, etc.):
You can:
• Leave override OFF (if PulseWire provides correct point value)
OR
• Enable Override and manually define $ value per point per lot
Depends on your broker's contract specification.
🔹 Trading Cross Pairs (GBPJPY, EURJPY, etc.)
For Forex crosses:
Leave override OFF.
If calculation warning appears:
Adjust "Custom Unit Size" to match correct pip structure.
Example:
GBPJPY may require adjusting unit size depending on feed.
🔹 Inputs Explained
Account Size (USD)
Your total trading account balance.
Risk Ratio %
Percentage of account you are willing to lose per trade.
(Example: 1% = disciplined risk management)
Stop-Loss (pips / points)
Distance from entry to stop loss.
This must match what you use in the PulseWire position tool.
Custom Unit Size (price)
Advanced setting.
Used when your symbol does not follow standard pip or tick logic.
You define how much price movement equals 1 unit.
FX Contract Size
Default: 100,000 (standard lot in Forex).
Only change if your broker uses non-standard contract sizes.
🎨 UI Customization
You can customize:
• Theme (Dark / Light / Midnight)
• Dashboard Position
• Transparency
• Text Size
• Warning visibility
⚠️ Important Notes
This tool calculates position size based on PulseWire symbol specifications.
Broker contract sizes may vary.
Always verify:
Pip value
Contract size
Margin requirements
Final order size
Before placing a live trade.
⚠️ Disclaimer
This tool is provided for educational and informational purposes only.
It does not constitute financial advice, investment advice, or trading recommendations.
Trading involves substantial risk and may result in loss of capital.
Use at your own risk.
👤 Author
Built by Juan C. Delgado
Geopbytech Indicator
Library
Indicator
VWAP TrendSignalVWAP TrendSignal
VWAP (Volume-Weighted Average Price) is the market’s true fair value — the benchmark institutions use to see when price is balanced, extended, or trending with real intent.
Price often snaps back when it moves too far (mean reversion), and only shows genuine strength when it holds above or below VWAP.
VWAP TrendSignal makes this insight effortless by color-coding VWAP direction:
Yellow = VWAP rising → bullish pressure
Red = VWAP falling → bearish pressure
No bands. No noise. Just pure directional clarity.
Anchor VWAP to the Session, Week, Month, Quarter, or Year, and tailor the Slope Smoothing Filter to your timeframe:
1–2 smoothing → fast & reactive (1–5m scalping)
3–5 smoothing → clean & stable (5–15m intraday)
6–10 smoothing → slow flips (1H–4H swings)
10–15 smoothing → macro bias only (Daily/Weekly)
The line adapts to how you trade.
How to Use It
Mean Reversion
When price stretches far from VWAP, expect pullbacks or snapbacks.
Trend Direction
Yellow supports long bias, red supports short bias.
Simple, reliable, instantly visible.
Balance Zones
Price sitting near VWAP = compression, buildup, or chop.
A perfect signal to wait or prepare for a breakout.
Why It Works
VWAP TrendSignal distills institutional logic into a clean, single-line tool.
It shows fair value, trend slope, and balance all at once — making your chart clearer and your decisions faster.
Once you get used to reading it, trading without it feels blind. Indicator
Indicator
Fibonacci Counter-Trend TradingOverview:
The Fibonacci Counter-Trend Trading strategy is designed to capitalize on price reversals by utilizing Fibonacci levels calculated from the standard deviation of price movements. This strategy opens a sell order when the closing price crosses above a specified upper Fibonacci level and a buy order when the closing price crosses below a specified lower Fibonacci level. By leveraging the principles of Fibonacci retracement and volatility, this strategy aims to identify potential reversal points in the market.
How It Works:
Fibonacci Levels Calculation:
The strategy calculates upper and lower Fibonacci levels based on the standard deviation of the price over a specified moving average length. These levels are derived from the Fibonacci sequence, which is widely used in technical analysis to identify potential support and resistance levels.
The upper levels are calculated by adding specific Fibonacci ratios (0.236, 0.382, 0.5, 0.618, 0.764, and 1.0) multiplied by the standard deviation to the basis (the volume-weighted moving average).
The lower levels are calculated by subtracting the same Fibonacci ratios multiplied by the standard deviation from the basis.
Trade Entry Rules:
Sell Order: A sell order is triggered when the closing price crosses above the selected upper Fibonacci level. This indicates a potential reversal point where the price may start to decline.
Buy Order: A buy order is initiated when the closing price crosses below the selected lower Fibonacci level. This suggests a potential reversal point where the price may begin to rise.
Trade Management:
The strategy includes stop-losses based on the Fibonacci levels to protect against adverse price movements.
How to Use:
Users can customize the moving average length and the multiplier for the standard deviation to suit their trading preferences and market conditions.
The strategy can be applied to various financial instruments, including stocks, forex, and cryptocurrencies, making it versatile for different trading environments.
Pros:
The Fibonacci Counter-Trend Trading strategy combines the mathematical principles of the Fibonacci sequence with the statistical measure of standard deviation, providing a unique approach to identifying potential market reversals.
This strategy is particularly useful in volatile markets where price swings can lead to significant trading opportunities.
The use of Fibonacci levels can help traders identify key support and resistance areas, enhancing decision-making.
Cons:
The strategy may generate false signals in choppy or sideways markets, leading to potential losses if the price does not reverse as anticipated.
Relying solely on Fibonacci levels without considering other technical indicators or market conditions may result in missed opportunities or increased risk.
The effectiveness of the strategy can vary depending on the chosen parameters (e.g., moving average length and standard deviation multiplier), requiring users to spend time optimizing these settings for different market conditions.
As with any counter-trend strategy, there is a risk of significant drawdowns during strong trending markets, where the price continues to move in one direction without reversing.
By understanding the mechanics of the Fibonacci Counter-Trend Trading strategy, along with its pros and cons, traders can effectively implement it in their trading routines and potentially enhance their trading performance. Strategy
Metatrader CalculatorThe “ Metatrader Calculator ” indicator calculates the position size, risk, and potential gain of a trade, taking into account the account balance, risk percentage, entry price, stop loss price, and risk/reward ratio. It supports the XAUUSD, XAGUSD, and BTCUSD pairs, automatically calculating the position size (in lots) based on these parameters. The calculation is displayed in a table on the chart, showing the lot size, loss in dollars, and potential gain based on the defined risk. Indicator
Strategy Stats [presentTrading]Hello! it's another weekend. This tool is a strategy performance analysis tool. Looking at the PulseWire community, it seems few creators focus on this aspect. I've intentionally created a shared version. Welcome to share your idea or question on this.
█ Introduction and How it is Different
Strategy Stats is a comprehensive performance analytics framework designed specifically for trading strategies. Unlike standard strategy backtesting tools that simply show cumulative profits, this analytics suite provides real-time, multi-timeframe statistical analysis of your trading performance.
Multi-timeframe analysis: Automatically tracks performance metrics across the most recent time periods (last 7 days, 30 days, 90 days, 1 year, and 4 years)
Advanced statistical measures: Goes beyond basic metrics to include Information Coefficient (IC) and Sortino Ratio
Real-time feedback: Updates performance statistics with each new trade
Visual analytics: Color-coded performance table provides instant visual feedback on strategy health
Integrated risk management: Implements sophisticated take profit mechanisms with 3-step ATR and percentage-based exits
BTCUSD Performance
The table in the upper right corner is a comprehensive performance dashboard showing trading strategy statistics.
Note: While this presentation uses Vegas SuperTrend as the underlying strategy, this is merely an example. The Stats framework can be applied to any trading strategy. The Vegas SuperTrend implementation is included solely to demonstrate how the analytics module integrates with a trading strategy.
⚠️ Timeframe Limitations
Important: PulseWire's backtesting engine has a maximum storage limit of 10,000 bars. When using this strategy stats framework on smaller timeframes such as 1-hour or 2-hour charts, you may encounter errors if your backtesting period is too long.
Recommended Timeframe Usage:
Ideal for: 4H, 6H, 8H, Daily charts and above
May cause errors on: 1H, 2H charts spanning multiple years
Not recommended for: Timeframes below 1H with long history
█ Strategy, How it Works: Detailed Explanation
The Strategy Stats framework consists of three primary components: statistical data collection, performance analysis, and visualization.
🔶 Statistical Data Collection
The system maintains several critical data arrays:
equityHistory: Tracks equity curve over time
tradeHistory: Records profit/loss of each trade
predictionSignals: Stores trade direction signals (1 for long, -1 for short)
actualReturns: Records corresponding actual returns from each trade
For each closed trade, the system captures:
float tradePnL = strategy.closedtrades.profit(tradeIndex)
float tradeReturn = strategy.closedtrades.profit_percent(tradeIndex)
int tradeType = entryPrice < exitPrice ? 1 : -1 // Direction
🔶 Performance Metrics Calculation
The framework calculates several key performance metrics:
Information Coefficient (IC):
The correlation between prediction signals and actual returns, measuring forecast skill.
IC = Correlation(predictionSignals, actualReturns)
Where Correlation is the Pearson correlation coefficient:
Correlation(X,Y) = (nΣXY - ΣXY) / √
Sortino Ratio:
Measures risk-adjusted return focusing only on downside risk:
Sortino = (Avg_Return - Risk_Free_Rate) / Downside_Deviation
Where Downside Deviation is:
Downside_Deviation = √
R_i represents individual returns, T is the target return (typically the risk-free rate), and n is the number of observations.
Maximum Drawdown:
Tracks the largest percentage drop from peak to trough:
DD = (Peak_Equity - Trough_Equity) / Peak_Equity * 100
🔶 Time Period Calculation
The system automatically determines the appropriate number of bars to analyze for each timeframe based on the current chart timeframe:
bars_7d = math.max(1, math.round(7 * barsPerDay))
bars_30d = math.max(1, math.round(30 * barsPerDay))
bars_90d = math.max(1, math.round(90 * barsPerDay))
bars_365d = math.max(1, math.round(365 * barsPerDay))
bars_4y = math.max(1, math.round(365 * 4 * barsPerDay))
Where barsPerDay is calculated based on the chart timeframe:
barsPerDay = timeframe.isintraday ?
24 * 60 / math.max(1, (timeframe.in_seconds() / 60)) :
timeframe.isdaily ? 1 :
timeframe.isweekly ? 1/7 :
timeframe.ismonthly ? 1/30 : 0.01
🔶 Visual Representation
The system presents performance data in a color-coded table with intuitive visual indicators:
Green: Excellent performance
Lime: Good performance
Gray: Neutral performance
Orange: Mediocre performance
Red: Poor performance
█ Trade Direction
The Strategy Stats framework supports three trading directions:
Long Only: Only takes long positions when entry conditions are met
Short Only: Only takes short positions when entry conditions are met
Both: Takes both long and short positions depending on market conditions
█ Usage
To effectively use the Strategy Stats framework:
Apply to existing strategies: Add the performance tracking code to any strategy to gain advanced analytics
Monitor multiple timeframes: Use the multi-timeframe analysis to identify performance trends
Evaluate strategy health: Review IC and Sortino ratios to assess predictive power and risk-adjusted returns
Optimize parameters: Use performance data to refine strategy parameters
Compare strategies: Apply the framework to multiple strategies to identify the most effective approach
For best results, allow the strategy to generate sufficient trade history for meaningful statistical analysis (at least 20-30 trades).
█ Default Settings
The default settings have been carefully calibrated for cryptocurrency markets:
Performance Tracking:
Time periods: 7D, 30D, 90D, 1Y, 4Y
Statistical measures: Return, Win%, MaxDD, IC, Sortino Ratio
IC color thresholds: >0.3 (green), >0.1 (lime), <-0.1 (orange), <-0.3 (red)
Sortino color thresholds: >1.0 (green), >0.5 (lime), <0 (red)
Multi-Step Take Profit:
ATR multipliers: 2.618, 5.0, 10.0
Percentage levels: 3%, 8%, 17%
Short multiplier: 1.5x (makes short take profits more aggressive)
Stop loss: 20%
Strategy
Trade Ladder Pro: Compounding & Risk ManagerTrade Ladder Pro: Compounding & Risk Manager
Inspired by the popular $20 to $52,000 trading challenge, this tool is designed to help you scale your trading account using systematic compounding and enhanced risk management techniques. Whether you’re aiming for disciplined growth or fine-tuning your risk/reward, Trade Ladder Pro offers a flexible approach to visualizing your trade levels.
How to Use:
Inputs:
Compounding Mode:
Set your starting balance, final balance goal, number of trades, and current trade level. You can move to the next trade after a successful trade in settings. The entries are not signals. They are there to help manage risk.
The script calculates the necessary compounding factor to grow your balance across the defined trades.
Risk Management Mode:
In addition to the above, specify a risk percentage and risk/reward ratio.
Input an entry price (or leave it at 0 to use the current price) to automatically compute the stop loss and take profit levels.
Display Options:
Choose the table’s position on the chart (e.g., Top Right, Top Left, Bottom Right, Bottom Left).
Pick between a vertical or horizontal layout for a display that suits your workflow.
Results:
The table will display the trade level, starting balance, risk amount, entry price, take profit, and (if in Risk Management mode) stop loss along with the projected ending balance.
Community & Feedback:
Your feedback is invaluable! Please share any tips or report any errors you encounter so we can continue to improve this tool. Happy trading! Indicator
StatPivot- Dynamic Range Analyzer - indicator [PresentTrading]Hello everyone! In the following few open scripts, I would like to share various statistical tools that benefit trading. For this time, it is a powerful indicator called StatPivot- Dynamic Range Analyzer that brings a whole new dimension to your technical analysis toolkit.
This tool goes beyond traditional pivot point analysis by providing comprehensive statistical insights about price movements, helping you identify high-probability trading opportunities based on historical data patterns rather than subjective interpretations. Whether you're a day trader, swing trader, or position trader, StatPivot's real-time percentile rankings give you a statistical edge in understanding exactly where current price action stands within historical contexts.
Welcome to share your opinions! Looking forward to sharing the next tool soon!
█ Introduction and How it is Different
StatPivot is an advanced technical analysis tool that revolutionizes retracement analysis. Unlike traditional pivot indicators that only show static support/resistance levels, StatPivot delivers dynamic statistical insights based on historical pivot patterns.
Its key innovation is real-time percentile calculation - while conventional tools require new pivot formations before updating (often too late for trading decisions), StatPivot continuously analyzes where current price stands within historical retracement distributions.
Furthermore, StatPivot provides comprehensive statistical metrics including mean, median, standard deviation, and percentile distributions of price movements, giving traders a probabilistic edge by revealing which price levels represent statistically significant zones for potential reversals or continuations. By transforming raw price data into statistical insights, StatPivot helps traders move beyond subjective price analysis to evidence-based decision making.
█ Strategy, How it Works: Detailed Explanation
🔶 Pivot Point Detection and Analysis
The core of StatPivot's functionality begins with identifying significant pivot points in the price structure. Using the parameters left and right, the indicator locates pivot highs and lows by examining a specified number of bars to the left and right of each potential pivot point:
Copyp_low = ta.pivotlow(low, left, right)
p_high = ta.pivothigh(high, left, right)
For a point to qualify as a pivot low, it must have left higher lows to its left and right higher lows to its right. Similarly, a pivot high must have left lower highs to its left and right lower highs to its right. This approach ensures that only significant turning points are recognized.
🔶 Percentage Change Calculation
Once pivot points are identified, StatPivot calculates the percentage changes between consecutive pivot points:
For drops (when a pivot low is lower than the previous pivot low):
CopydropPercent = (previous_pivot_low - current_pivot_low) / previous_pivot_low * 100
For rises (when a pivot high is higher than the previous pivot high):
CopyrisePercent = (current_pivot_high - previous_pivot_high) / previous_pivot_high * 100
These calculations quantify the magnitude of each market swing, allowing for statistical analysis of historical price movements.
🔶 Statistical Distribution Analysis
StatPivot computes comprehensive statistics on the historical distribution of drops and rises:
Average (Mean): The arithmetic mean of all recorded percentage changes
CopyavgDrop = array.avg(dropValues)
Median: The middle value when all percentage changes are arranged in order
CopymedianDrop = array.median(dropValues)
Standard Deviation: Measures the dispersion of percentage changes from the average
CopystdDevDrop = array.stdev(dropValues)
Percentiles (25th, 75th): Values below which 25% and 75% of observations fall
Copyq1 = array.get(sorted, math.floor(cnt * 0.25))
q3 = array.get(sorted, math.floor(cnt * 0.75))
VaR95: The maximum expected percentage drop with 95% confidence
Copyvar95D = array.get(sortedD, math.floor(nD * 0.95))
Coefficient of Variation (CV): Measures relative variability
CopycvD = stdDevDrop / avgDrop
These statistics provide a comprehensive view of market behavior, enabling traders to understand the typical ranges and extreme moves.
🔶 Real-time Percentile Ranking
StatPivot's most innovative feature is its real-time percentile calculation. For each current price, it calculates:
The percentage drop from the latest pivot high:
CopycurrentDropPct = (latestPivotHigh - close) / latestPivotHigh * 100
The percentage rise from the latest pivot low:
CopycurrentRisePct = (close - latestPivotLow) / latestPivotLow * 100
The percentile ranks of these values within the historical distribution:
CopyrealtimeDropRank = (count of historical drops <= currentDropPct) / total drops * 100
This calculation reveals exactly where the current price movement stands in relation to all historical movements, providing crucial context for decision-making.
🔶 Cluster Analysis
To identify the most common retracement zones, StatPivot performs a cluster analysis by dividing the range of historical drops into five equal intervals:
CopyrangeSize = maxVal - minVal
For each interval boundary:
Copyboundaries = minVal + rangeSize * i / 5
By counting the number of observations in each interval, the indicator identifies the most frequently occurring retracement zones, which often serve as significant support or resistance areas.
🔶 Expected Price Targets
Using the statistical data, StatPivot calculates expected price targets:
CopytargetBuyPrice = close * (1 - avgDrop / 100)
targetSellPrice = close * (1 + avgRise / 100)
These targets represent statistically probable price levels for potential entries and exits based on the average historical behavior of the market.
█ Trade Direction
StatPivot functions as an analytical tool rather than a direct trading signal generator, providing statistical insights that can be applied to various trading strategies. However, the data it generates can be interpreted for different trade directions:
For Long Trades:
Entry considerations: Look for price drops that reach the 70-80th percentile range in the historical distribution, suggesting a statistically significant retracement
Target setting: Use the Expected Sell price or consider the average rise percentage as a reasonable target
Risk management: Set stop losses below recent pivot lows or at a distance related to the statistical volatility (standard deviation)
For Short Trades:
Entry considerations: Look for price rises that reach the 70-80th percentile range, indicating an unusual extension
Target setting: Use the Expected Buy price or average drop percentage as a target
Risk management: Set stop losses above recent pivot highs or based on statistical measures of volatility
For Range Trading:
Use the most common drop and rise clusters to identify probable reversal zones
Trade bounces between these statistically significant levels
For Trend Following:
Confirm trend strength by analyzing consecutive higher pivot lows (uptrend) or lower pivot highs (downtrend)
Use lower percentile retracements (20-30th percentile) as entry opportunities in established trends
█ Usage
StatPivot offers multiple ways to integrate its statistical insights into your trading workflow:
Statistical Table Analysis: Review the comprehensive statistics displayed in the data table to understand the market's behavior. Pay particular attention to:
Average drop and rise percentages to set reasonable expectations
Standard deviation to gauge volatility
VaR95 for risk assessment
Real-time Percentile Monitoring: Watch the real-time percentile display to see where the current price movement stands within the historical distribution. This can help identify:
Extreme movements (90th+ percentile) that might indicate reversal opportunities
Typical retracements (40-60th percentile) that might continue further
Shallow pullbacks (10-30th percentile) that might represent continuation opportunities in trends
Support and Resistance Identification: Utilize the plotted pivot points as key support and resistance levels, especially when they align with statistically significant percentile ranges.
Target Price Setting: Use the expected buy and sell prices calculated from historical averages as initial targets for your trades.
Risk Management: Apply the statistical measurements like standard deviation and VaR95 to set appropriate stop loss levels that account for the market's historical volatility.
Pattern Recognition: Over time, learn to recognize when certain percentile levels consistently lead to reversals or continuations in your specific market, and develop personalized strategies based on these observations.
█ Default Settings
The default settings of StatPivot have been carefully calibrated to provide reliable statistical analysis across a variety of markets and timeframes, but understanding their effects allows for optimal customization:
Left Bars (30) and Right Bars (30): These parameters determine how pivot points are identified. With both set to 30 by default:
A pivot low must be the lowest point among 30 bars to its left and 30 bars to its right
A pivot high must be the highest point among 30 bars to its left and 30 bars to its right
Effect on performance: Larger values create fewer but more significant pivot points, reducing noise but potentially missing important market structures. Smaller values generate more pivot points, capturing more nuanced movements but potentially including noise.
Table Position (Top Right): Determines where the statistical data table appears on the chart.
Effect on performance: No impact on analytical performance, purely a visual preference.
Show Distribution Histogram (False): Controls whether the distribution histogram of drop percentages is displayed.
Effect on performance: Enabling this provides visual insight into the distribution of retracements but can clutter the chart.
Show Real-time Percentile (True): Toggles the display of real-time percentile rankings.
Effect on performance: A critical setting that enables the dynamic analysis of current price movements. Disabling this removes one of the key advantages of the indicator.
Real-time Percentile Display Mode (Label): Chooses between label display or indicator line for percentile rankings.
Effect on performance: Labels provide precise information at the current price point, while indicator lines show the evolution of percentile rankings over time.
Advanced Considerations for Settings Optimization:
Timeframe Adjustment: Higher timeframes generally benefit from larger Left/Right values to identify truly significant pivots, while lower timeframes may require smaller values to capture shorter-term swings.
Volatility-Based Tuning: In highly volatile markets, consider increasing the Left/Right values to filter out noise. In less volatile conditions, lower values can help identify more potential entry and exit points.
Market-Specific Optimization: Different markets (forex, stocks, commodities) display different retracement patterns. Monitor the statistics table to see if your market typically shows larger or smaller retracements than the current settings are optimized for.
Trading Style Alignment: Adjust the settings to match your trading timeframe. Day traders might prefer settings that identify shorter-term pivots (smaller Left/Right values), while swing traders benefit from more significant pivots (larger Left/Right values).
By understanding how these settings affect the analysis and customizing them to your specific market and trading style, you can maximize the effectiveness of StatPivot as a powerful statistical tool for identifying high-probability trading opportunities. Indicator
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