TIS_PivotDensity for NinjaTrader 8: Find Where Pivots Really Cluster
Pivots tend to act as support and resistance, so many traders mark pivot confluence by hand and use those zones for the current session. The further back you look, though, the more pivots you find, and most of them don’t line up exactly: one may sit a few ticks from another. A line on every pivot quickly turns the chart into a wall of horizontal lines. TIS_PivotDensity handles that work automatically. How it works It detects every pivot high and pivot low on the chart. It builds a histogram of how many pivots sit at each price. It smooths that histogram, so pivots that are close but not identical merge into one zone. It draws a level only where the density passes your threshold. The peaks in the histogram are the prices where pivots gathered most often in the past, which is why those zones tend to matter again. Two settings do the work Smoothing: how far apart two pivots can be and still count as the same zone. A setting of 1 draws a line on almost every pivot. Raising it...
