BUILD INDICATOR IN PINE SCRIP / AFL

RULES FOR MARKING SMALL PIVOTS

SPH - SMALL PIVOT HIGH
• To mark SPH, we need two lower lows and two lower closes compared to anchor bar.
• SPH is the highest point in between 2 SPLs
• SPH alternates with SPL, SPH cannot follow another SPH

SPL – SMALL PIVOT LOW
• To mark SPL, we need two higher highs and two higher closes compared to anchor bar.
• SPL is the lowest point in between 2 SPHs
• SPL alternates with SPH, SPL cannot follow another SPL

COMMON RULES

• Bar 1 & Bar 2 for marking small pivots does not have to be consecutives bar until we get to mark the small pivot (High or Low)
• Anchor bar or a reference bar is taken as starting point to compare highs/lows
o Only Bar2 of previous marked pivot can ‘Start’ acting as the anchor bar to mark the next pivot.
• Recently marked small pivot is temporary. It becomes permanent only after marking the subsequent small pivot.

RULES FOR MARKING LARGE PIVOTS (LPH,LPL)

• To mark LPH, we need to break the previously marked SPL (Temp SPL break is enough)
• To Mark LPL, We need to break the previously marked SPH (Temp SPH break is enough)
• LPH and LPL alternates.
• To Mark LPH, we go back to see all the SPHs (that were marked after the last LPL- including highs) and mark the highest SPH as LPH
• To Mark LPL, we go back to see all the SPLs (that were marked after the last LPH- including lows) and mark the lowest SPL as LPL.
• Once marked, Large Pivots are permanent (no temp pivot concept like spl/sph)