I am new to pine script & would like to ask you the simple code where it should buy at the pivotHigh & sell at the pivotLow. Thanks in advance for your help...
`//@version=5
strategy("pivot High & Low Trade", overlay = true)
leftbars = 5
rightbars = 5
pivLow = ta.pivotlow(leftbars, rightbars)
pivHigh = ta.pivothigh(leftbars, rightbars)
plotshape(pivHigh, style = shape.labelup, location = location.abovebar, offset = - rightbars)
plotshape(pivLow, style = shape.labelup, location = location.belowbar, offset = - rightbars)`
`
Please suggest the code for the same.
Life would be perfect if we could always buy at the bottom and sell at the top, right?
Unfortunately, that is not possible. You see that offset = - rightbars
in your plotshape()
? That plots the shape with an offset.
In your example, it will verify the price action and then plot it with a 5 bar offset. So, you will always be delayed by 5 bars.