Support Resistance points that are calculated based on the standard deviation of the traditional pivot point(previous session's high, low and close). More often stocks tend to oscillate between 3 levels of deviation forming day's high or low. A breakout of the 3rd SR level with volume indicates a strong trend day.
リリースノート
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Updated to version 5 with a few cosmetic changes
リリースノート
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Added the option to track the SD Pivots on two timeframes
any way to remove the the past pivot points, hate the clutter, love the indicator
SureVik
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@dbdecoy This is really useful. I found this to be much more responsive than Stand Pivots. Thank you!
je70725
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Hey brother! I have been using the Indicator and does the purple line hold more value than the orange lines? Thank you very much for putting this indicator out there it!!!
bintrader010
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Great indicator esp being able to toggle through the different pivots. I only use the Camarilla pivots , i wanted to know if you are using the actual Cam formula or a proprietary formula you created? The following being the Cam formula I pasted here. I was trying to modify the code to meet the below formula but Im not that savvy of a Pine script editor, LoL .
Thank you and this indicator rocks, nice going !!
Fourth resistance (R4) = Closing + ((High -Low) x 1.5000) Third resistance (R3) = Closing + ((High -Low) x 1.2500) Second resistance (R2) = Closing + ((High -Low) x 1.1666) First resistance (R1) = Closing + ((High -Low x 1.0833) Pivot point (PP) = (High + Low + Closing) / 3 First support (S1) = Closing – ((High -Low) x 1.0833) Second support (S2) = Closing – ((High -Low) x 1.1666) Third support (S3) = Closing – ((High -Low) x 1.2500) Fourth support (S4) = Closing – ((High-Low) x 1.5000)
Interzona
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ive been studying ICT concepts and the "Algo". I think the algo if it is real is using these SD levels. When you see an entry drill around these. Boom. would be good to have same indicator for MT4 for some real backtesting, but cant find one!!
jamesm1225
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How is your SD calculated without IV? Does not seem to be a true measure of SD then. Just levels based off of daily pivot.
Interzona
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Hi , could you let me know a resource where I can find info on how standard deviation is used in calculation of the pivots, they really do contain price really well and I want to know why, is it because they are used widely? I don't think they are, or is it that they reflect the limits of price movement by virtue of normal distribution of the price data. Any info welcome
dbdecoy
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@Interzona, This is just a deviation of the variables that are used to calculate the standard floor pivot point which is used by almost everyone and plots the normal distribution values. You may not find this indicator anywhere but is very effective in predicting the price levels.
Interzona
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@dbdecoy, ok thanks , I worked it out , they really are POWERFULL levels. I notice tomorrow's SD1 PIVOTS often line up with support for previous day's hi or low , have you thought about putting a developing pivot together. This would be very useful for entries especially towards the end of the day as most data points are already in place