Bullish Pivot Detector

Category: market_structure

Detects bullish pivot points based on a specific sequence of red candles followed by a green candle 'trigger', confirming the pivot when local resistance is breached without losing the local low.

Formula

\text{Candidate} = (\text{Consecutive Red Candles}) + 1 \text{ Green Candle}. \\ \text{Target High} = \max(\text{Preceding Green High}, \text{Red Sequence Highs}). \\ \text{Pivot Confirmed if } \text{Price} > \text{Target High} \text{ before } \text{Price} < \text{Running Low}.

Inputs

• touchCountsAsHunt (default: false)
• sameCandleRule (default: Low wins)
• aliveColor (default: color.lime)
• deadColor (default: color.red)
• offsetTicks (default: 10)
• iconSizeInput (default: Large)
• showDebug (default: false)

See signal primitives, usage in published strategies and more on WOBR StrategyVerse.