OPEN-SOURCE SCRIPT

Pivot Point Breakout

This is a strategy taken from Perry Kaufman's book, Trading Systems and Methods.

Just like the title says, it's a breakout strategy. It works by buying when the current high is higher than the last pivot high, and selling when the low is lower than the last pivot low.

It does not have a good success probability, and relies on the good reward to risk ratio. Definitely not recommended for someone with weak hands.
breakoutKaufman's Adaptive Moving Average (KAMA)pivotbreakoutPivot Points

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.

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