OPEN-SOURCE SCRIPT
Piv X
**Title:** Piv X: Confluence-Based Market Structure & Volume Analyzer
**Introduction**
Piv X is a comprehensive market structure analysis tool designed to grade the quality of Pivot Points using a composite "Confluence Score." Unlike standard indicators that simply identify local highs and lows based on price alone, this script evaluates the *strength* of every pivot by cross-referencing it against volume data, momentum divergences, multi-timeframe structure, and institutional key levels.
**Concept & Methodology**
The core functionality of this script builds upon a **Dynamic Pivot Quality Scoring System**. When a pivot point is detected (using an ATR-based dynamic lookback), the script runs a background analysis on 10+ technical factors to assign a "Confluence Score" (0-100).
The score is calculated based on the accumulation of the following factors:
1. **Volume Anomalies**: Detects volume spikes at the pivot, suggesting institutional participation.
2. **Momentum Divergence**: Checks for RSI and Williams %R divergences relative to price action to identify exhaustion.
3. **Liquidity Mechanics**: Identifies "Swing Failure Patterns" (SFP) and "Sweeps" where price pierces a previous structure but closes back inside.
4. **Multi-Timeframe Alignment**: Verifies if the pivot aligns with Higher Timeframe (HTF) trends and structures to filter out counter-trend noise.
5. **Key Level Interaction**: Rewards pivots that form near Daily/Weekly Highs or Lows.
6. **Fair Value Gap (FVG) Fills**: Detects if the pivot is reacting to a market imbalance fill.
**Unique Feature: Williams %R Divergence Anchored VWAP**
This tool introduces a logic-driven Anchored VWAP. Instead of arbitrarily anchoring VWAPs to high/low dates, the script automatically anchors a VWAP from the exact candle where a Williams %R Momentum Divergence is confirmed. This allows traders to visualize the "true cost basis" of participants who entered specifically on the momentum reversal signal.
**How to Use**
1. **Golden Zones (High Confluence)**: Pivots that achieve a high Confluence Score (e.g., >80) are highlighted with a distinct "Golden" border and background. These represent high-probability Support/Resistance levels backed by multiple forms of technical evidence.
2. **Standard Zones (Normal Confluence)**: Pivots with moderate scores are shown in standard Green/Purple. These are valid structure points but may require additional confirmation before trading.
3. **Trend Filtering**: The "Trend System" overlay (using EMA Clouds and RSI filters) provides visual context for the dominant trend direction, helping traders avoid taking structure signals against the main flow.
4. **Market Structure Shifts (MSS)**: The script automatically plots CHoCH (Change of Character) lines to alert traders when the sequence of Higher Highs or Lower Lows has been broken, often signaling a trend reversal.
**Settings**
* **Pivot Detection**: Adjust the ATR Multiplier to control the sensitivity of pivot detection.
* **Filters**: Toggle specific scoring factors (like Session Logic or HTF Confluence) to customize how strict the Scoring System is.
* **Visuals**: Enable/Disable specific VWAP periods (Weekly, Monthly, Yearly) to keep the chart clean.
**Disclaimer**
This tool is intended for market analysis and educational purposes only. Past performance of these setups does not guarantee future results.
**Introduction**
Piv X is a comprehensive market structure analysis tool designed to grade the quality of Pivot Points using a composite "Confluence Score." Unlike standard indicators that simply identify local highs and lows based on price alone, this script evaluates the *strength* of every pivot by cross-referencing it against volume data, momentum divergences, multi-timeframe structure, and institutional key levels.
**Concept & Methodology**
The core functionality of this script builds upon a **Dynamic Pivot Quality Scoring System**. When a pivot point is detected (using an ATR-based dynamic lookback), the script runs a background analysis on 10+ technical factors to assign a "Confluence Score" (0-100).
The score is calculated based on the accumulation of the following factors:
1. **Volume Anomalies**: Detects volume spikes at the pivot, suggesting institutional participation.
2. **Momentum Divergence**: Checks for RSI and Williams %R divergences relative to price action to identify exhaustion.
3. **Liquidity Mechanics**: Identifies "Swing Failure Patterns" (SFP) and "Sweeps" where price pierces a previous structure but closes back inside.
4. **Multi-Timeframe Alignment**: Verifies if the pivot aligns with Higher Timeframe (HTF) trends and structures to filter out counter-trend noise.
5. **Key Level Interaction**: Rewards pivots that form near Daily/Weekly Highs or Lows.
6. **Fair Value Gap (FVG) Fills**: Detects if the pivot is reacting to a market imbalance fill.
**Unique Feature: Williams %R Divergence Anchored VWAP**
This tool introduces a logic-driven Anchored VWAP. Instead of arbitrarily anchoring VWAPs to high/low dates, the script automatically anchors a VWAP from the exact candle where a Williams %R Momentum Divergence is confirmed. This allows traders to visualize the "true cost basis" of participants who entered specifically on the momentum reversal signal.
**How to Use**
1. **Golden Zones (High Confluence)**: Pivots that achieve a high Confluence Score (e.g., >80) are highlighted with a distinct "Golden" border and background. These represent high-probability Support/Resistance levels backed by multiple forms of technical evidence.
2. **Standard Zones (Normal Confluence)**: Pivots with moderate scores are shown in standard Green/Purple. These are valid structure points but may require additional confirmation before trading.
3. **Trend Filtering**: The "Trend System" overlay (using EMA Clouds and RSI filters) provides visual context for the dominant trend direction, helping traders avoid taking structure signals against the main flow.
4. **Market Structure Shifts (MSS)**: The script automatically plots CHoCH (Change of Character) lines to alert traders when the sequence of Higher Highs or Lower Lows has been broken, often signaling a trend reversal.
**Settings**
* **Pivot Detection**: Adjust the ATR Multiplier to control the sensitivity of pivot detection.
* **Filters**: Toggle specific scoring factors (like Session Logic or HTF Confluence) to customize how strict the Scoring System is.
* **Visuals**: Enable/Disable specific VWAP periods (Weekly, Monthly, Yearly) to keep the chart clean.
**Disclaimer**
This tool is intended for market analysis and educational purposes only. Past performance of these setups does not guarantee future results.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.