Pivot Levels

Modified on 2020/05/21 06:57 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

bars	The source Bars object
type	Pivot 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.