Impl Volty Pivots (ShowMe)Analysis Techniques & Strategies
Impl Volty Pivots (ShowMe)| Name | Expression | Default | Description |
| ShowHighPivots | True/False | True | Set to true to plot a marker for each swing high pivot. Set to false to not plot a pivot high marker. |
| ShowLowPivots | True/False | True | Set to true to plot a marker for each swing low pivot. Set to false to not plot a pivot low marker. |
| LeftStrength | Numeric | 10 | Number of bars to the left of a potential pivot bar that must have a higher implied volatility value for a pivot low, or a lower implied volatility value for a pivot high. |
| RightStrength | Numeric | 10 | Number of bars to the right of a potential pivot bar that must have a higher implied volatility value for a pivot low, or a lower implied volatility value for a pivot high. |
Impl Volty Pivots plots a marker on the bar where a high or low pivot in the value of implied volatility has occurred.
It's important to note that a ShowMe marker for a potential pivot bar will only plot after the number of RightStrength bars (after the potential pivot bar) are available to be evaluated. Once that number of bars have passed, and provided that all of the bars to the right of the bar in question have either higher (pivot low) or lower (pivot high) values of IVolatility, the bar can be marked as a pivot. The mark is then placed on the historical bar by offsetting the plot so that it marks the appropriate historical bar.
If the LeftStrength and RightStrength inputs are 5 then, for a low pivot marker to plot on a given bar, both the 5 bars to the left and the right of that given bar must have higher implied volatility values and the ShowLowPivots input must be True.
Disclaimer