Pivot Levels

Modified on 2013/05/09 12:04 by Eugene — Categorized as: Community Indicators

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

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.