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Pivot Levels

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Syntax

public PivotLevels(Bars bars, PivotType type, string description)
public static PivotLevels Series(Bars bars, PivotType type)
public enum PivotType { Pivot, R1, R2, R3, S1, S2, S3 }

Parameter Description

barsThe source Bars object
typePivot point type: Pivot, R1, R2, R3, S1, S2, S3

Description

Part of Commnuity Indicators. The PivotLevels indicator plots selected floor trader's pivot line. When applied to Intraday data, scales it to Daily first. On Daily, works as usual.

Calculation

R3 = R1 + (High – Low)
R2 = Pivot + (High – Low)
R1 = 2 × Pivot – Low
Pivot = (High + Low + Close)/3
S1 = 2 × Pivot – High
S2 = Pivot – (High – Low)
S3 = S1 – (High – Low)


Example

No example will be provided.

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