OPEN-SOURCE SCRIPT
Updated Hourly Inflection Levels/ pivot points
This indicator finds the price levels where the hourly chart has repeatedly turned, and draws them as support/resistance zones — regardless of what timeframe your chart is on. It pulls 1-hour data via request.security, so the same zones appear whether you're viewing a 5-minute, 1-hour, or 4-hour chart.
How it works
1. Pivot detection. On the hourly series it locates two kinds of turning points:
Wick pivots — pivot highs/lows based on candle high/low (where price actually reached).
Body pivots — pivot highs/lows based on max(open, close) / min(open, close) (where price closed the swing).
2. Intensity filter. Each pivot is scored by how far price travelled inside its pivot window (the displacement between the pivot and the opposite extreme). Weak, shallow pivots are discarded via the Min Inflection Intensity threshold, so only meaningful inflections survive.
3. Cross-type merging into zones. Every qualified pivot — wick or body, high or low — is pooled together, sorted by price, and merged: any pivots within the Merge / Zone Tolerance of each other collapse into a single zone. The zone's boundaries become the highest and lowest merged price; each merge adds one to the zone's touch count, and the zone keeps the strongest intensity of its members.
4. Display. Zones that have been touched at least Min Touch Count times are drawn as boxes, optionally extended to the right, with a label showing the level's mid-price, touch count, and intensity %. Levels touched fewer times are hidden.
Inputs
Lookback Period — how many days of hourly history to scan (rolling window; old levels are pruned automatically).
Pivot Left/Right Bars — sensitivity of pivot detection.
Min Touch Count — how many pivots must fall in a zone for it to be shown.
Min Inflection Intensity — minimum swing strength for a pivot to count.
Merge / Zone Tolerance — how close pivots must be to merge into one zone.
Wick / Body toggles — choose which pivot types feed the zones.
Display — extend zones right, show labels, zone color, border width.
Reading the zones
A zone with a high touch count and high intensity marks a price area the market has reacted to strongly and repeatedly over the past month — prime candidates for support, resistance, and reaction levels.
Note: Zones are confluence levels built from past hourly pivots, not signals. They don't repaint historically (pivots are confirmed), but the active set updates as new hourly bars form and old ones age out of the lookback window.
How it works
1. Pivot detection. On the hourly series it locates two kinds of turning points:
Wick pivots — pivot highs/lows based on candle high/low (where price actually reached).
Body pivots — pivot highs/lows based on max(open, close) / min(open, close) (where price closed the swing).
2. Intensity filter. Each pivot is scored by how far price travelled inside its pivot window (the displacement between the pivot and the opposite extreme). Weak, shallow pivots are discarded via the Min Inflection Intensity threshold, so only meaningful inflections survive.
3. Cross-type merging into zones. Every qualified pivot — wick or body, high or low — is pooled together, sorted by price, and merged: any pivots within the Merge / Zone Tolerance of each other collapse into a single zone. The zone's boundaries become the highest and lowest merged price; each merge adds one to the zone's touch count, and the zone keeps the strongest intensity of its members.
4. Display. Zones that have been touched at least Min Touch Count times are drawn as boxes, optionally extended to the right, with a label showing the level's mid-price, touch count, and intensity %. Levels touched fewer times are hidden.
Inputs
Lookback Period — how many days of hourly history to scan (rolling window; old levels are pruned automatically).
Pivot Left/Right Bars — sensitivity of pivot detection.
Min Touch Count — how many pivots must fall in a zone for it to be shown.
Min Inflection Intensity — minimum swing strength for a pivot to count.
Merge / Zone Tolerance — how close pivots must be to merge into one zone.
Wick / Body toggles — choose which pivot types feed the zones.
Display — extend zones right, show labels, zone color, border width.
Reading the zones
A zone with a high touch count and high intensity marks a price area the market has reacted to strongly and repeatedly over the past month — prime candidates for support, resistance, and reaction levels.
Note: Zones are confluence levels built from past hourly pivots, not signals. They don't repaint historically (pivots are confirmed), but the active set updates as new hourly bars form and old ones age out of the lookback window.
Release Notes
This indicator finds the price levels where the hourly chart has repeatedly turned, and draws them as support/resistance zones — regardless of what timeframe your chart is on. It pulls 1-hour data via request.security, so the same zones appear whether you're viewing a 5-minute, 1-hour, or 4-hour chart.How it works
1. Pivot detection. On the hourly series it locates two kinds of turning points:
Wick pivots — pivot highs/lows based on candle high/low (where price actually reached).
Body pivots — pivot highs/lows based on max(open, close) / min(open, close) (where price closed the swing).
2. Intensity filter. Each pivot is scored by how far price travelled inside its pivot window (the displacement between the pivot and the opposite extreme). Weak, shallow pivots are discarded via the Min Inflection Intensity threshold, so only meaningful inflections survive.
3. Cross-type merging into zones. Every qualified pivot — wick or body, high or low — is pooled together, sorted by price, and merged: any pivots within the Merge / Zone Tolerance of each other collapse into a single zone. The zone's boundaries become the highest and lowest merged price; each merge adds one to the zone's touch count, and the zone keeps the strongest intensity of its members.
4. Display. Zones that have been touched at least Min Touch Count times are drawn as boxes, optionally extended to the right, with a label showing the level's mid-price, touch count, and intensity %. Levels touched fewer times are hidden.
Inputs
Lookback Period — how many days of hourly history to scan (rolling window; old levels are pruned automatically).
Pivot Left/Right Bars — sensitivity of pivot detection.
Min Touch Count — how many pivots must fall in a zone for it to be shown.
Min Inflection Intensity — minimum swing strength for a pivot to count.
Merge / Zone Tolerance — how close pivots must be to merge into one zone.
Wick / Body toggles — choose which pivot types feed the zones.
Display — extend zones right, show labels, zone color, border width.
Reading the zones
A zone with a high touch count and high intensity marks a price area the market has reacted to strongly and repeatedly over the past month — prime candidates for support, resistance, and reaction levels.
Note: Zones are confluence levels built from past hourly pivots, not signals. They don't repaint historically (pivots are confirmed), but the active set updates as new hourly bars form and old ones age out of the lookback window.
Release Notes
Change include option to auto calcuate the intensity threshold based on ATR of a tickrOpen-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.