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Pivots - Intraday by Jose Silva for Metastock
Rating:
3 / 5 (Votes 2)
Tags:
metastock, pivots
Plots daily pivot values on intraday charts
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Indicator / Formula
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{ With thanks to Kevin Barry for pivot logic. CCopyright 2004~2006 Jose Silva The grant of this license is for personal use only - no resale or repackaging allowed. All code remains the property of Jose Silva. http://metastocktools.com } { User input } pds:=Input("Use Highest/Lowest of past x days",1,260,1); { Message } message:=Input("(Plot on intraday charts)",0,0,0); { Day's start } dStart:=DayOfMonth()<>Ref(DayOfMonth(),-1) OR Cum(1)=2; { Previous x Days' High } Hd:=HighestSince(pds,dStart,H); Hd:=ValueWhen(1,dStart,ValueWhen(2,1,Hd)); Hd:=ValueWhen(1,Hd>0,Hd); { Previous x Days' Low } Ld:=LowestSince(pds,dStart,L); Ld:=ValueWhen(1,dStart,ValueWhen(2,1,Ld)); Ld:=ValueWhen(1,Ld>0,Ld); { Previous Day's Close } Cd:=ValueWhen(1,dStart,ValueWhen(2,1,C)); Cd:=ValueWhen(1,Cd>0,Cd); { Pivot } Pivot:=(Hd+Ld+Cd)/3; {Plot in Green bold} { Support } S1:=2*Pivot-Hd; {Blue} S2:=Pivot-(Hd-Ld); {Red} S3:=2*Pivot-(2*Hd-Ld); {dark Green} { Resistance } R1:=2*Pivot-Ld; {Blue} R2:=Pivot+(Hd-Ld); {Red} R3:=2*Pivot+(Hd-2*Ld); {dark Green} {All mid-pivot levels light Grey} M0:=(S2+S3)/2; M1:=(S1+S2)/2; M2:=(Pivot+S1)/2; M3:=(R1+Pivot)/2; M4:=(R2+R1)/2; M5:=(R3+R2)/2; { Plot on intraday price charts } R3;M5;R2;M4;R1;M3; Pivot; M2;S1;M1;S2;M0;S3
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