Pivot points simply took the high, low, and closing price from the previous period and
divided by 3 to find the pivot . From this pivot , traders would then base their
calculations for three support, and three resistance levels. The calculation for the most
basic flavor of pivot points , known as ‘floor-trader pivots’, along with their support and
resistance levels.
divided by 3 to find the pivot . From this pivot , traders would then base their
calculations for three support, and three resistance levels. The calculation for the most
basic flavor of pivot points , known as ‘floor-trader pivots’, along with their support and
resistance levels.
Donate (BEP20) 0x55135292d73605c6f4dee8b9733a3e55dec7455e
//////////////////////////////////////////////////////////// // Copyright by HPotter v1.0 10/07/2014 // Pivot points simply took the high, low, and closing price from the previous period and // divided by 3 to find the pivot. From this pivot, traders would then base their // calculations for three support, and three resistance levels. The calculation for the most // basic flavor of pivot points, known as ‘floor-trader pivots’, along with their support and // resistance levels. //////////////////////////////////////////////////////////// study(title="Pivot Point", shorttitle="Pivot Point", overlay = true) width = input(2, minval=1) xHigh = security(tickerid,"D", high[1]) xLow = security(tickerid,"D", low[1]) xClose = security(tickerid,"D", close[1]) vPP = (xHigh+xLow+xClose) / 3 vR1 = vPP+(vPP-xLow) vS1 = vPP-(xHigh - vPP) vR2 = vPP + (xHigh - xLow) vS2 = vPP - (xHigh - xLow) vR3 = xHigh + 2 * (vPP - xLow) vS3 = xLow - 2 * (xHigh - vPP) plot(vS1, color=#ff0000, title="S1", style = circles, linewidth = width) plot(vS2, color=#ff002a, title="S2", style = circles, linewidth = width) plot(vS3, color=#ff014a, title="S3", style = circles, linewidth = width) plot(vR1, color=#009600, title="R1", style = circles, linewidth = width) plot(vR2, color=#006F00, title="R2", style = circles, linewidth = width) plot(vR3, color=#004900, title="R3", style = circles, linewidth = width)