TriX oscillator is a nice trending indicator found as a built in indicator in metatrader.
This version is adding pivot calculation to such TRiX. Pivots are calculated from the TRiXitself, and you have 4 possible types that can be displayed :
display pivot only
display pivot and 1st level support and resistance
display pivot and 1st and 2nd level support and resistance
display pivot and 1st and 2nd and 3rd level support and resistance
The time frame selected, is used for pivots only (that time frame is used as “delimiter” for pivots). The TRiX is always calculated as current time frame
pivots calculation based on pine script v4 -… For MQL4 version please click here. pine script v4 function I/O : pivothigh(source, leftbars, rightbars) → series[float] pivotlow(source, leftbars, rightbars)…
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