|
Pivot Size |
Top |
|
Pivot Size
This number represents the minimum 'strength' or 'size' that a potential pivot must have to be considered as a valid pivot. This is measured as the number of bars on either side that are lower (for defining a high pivot) or higher (for defining a low pivot). A pivot size of 2 would require that each high pivot have two lower highs on either side and each low pivot have two higher lows on either side. Increasing this number will likely reduce the number of pivots that are identified by the script and, therefore, it will reduce the number of trendlines and support/resistance zones. In general, a lower Pivot Size setting provides a higher granularity in terms of trendline and S/R line identification.
Range is from 1 to 20 with 3 being the default setting.
|