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FX:EURUSD   Euro / U.S. Dollar
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Update to the previous version of Arbitrary Price Pivot tool. Here we have specific pivot levels based on the Standard Distribution Deviations. You will see three levels of each deviation greater than 97.7% (2.0). For example, standard deviation 3.09 has a ratio of 99.99% certainty price will return to the mean. So we have 3.09, 6.18 and 9.27...three levels of that particular deviation. If price breaks through 3.09 it most likely will continue through to the next level, 6.18 and perhaps 9.27. All relative to time frame used.
Comment: Aribitrary Price Pivot script posted. //Arbitrary Price Pivots/StdDev 3; ^, standard distribution deviations, set your own pivot levels
study("Arbitrary Price Pivots/StdDev3^; ",overlay=true)

p = input(000.0000,title="Pivot")
p0 = input(1.0050, title="p0")
p1 = input(1.0100, title="p1")
p2 = input(1.0128, title="p2")
p3 = input(1.0165, title="p3")
p4 = input(1.0200, title="p4")
p5 = input(1.0233, title="p5")
p6 = input(1.0258, title="p6")
p7 = input(1.0309, title="p7")
p8 = input(1.0400, title="p8")
p9 = input(1.0466, title="p9")
p10 = input(1.0516, title="p10")
p11 = input(1.0600, title="p11")
p12 = input(1.0618, title="p12")
p13 = input(1.0699, title="p13")
p14 = input(1.0774, title="p14")
p15 = input(1.0927, title="p15")
plot(p,"Pivot",color=green)
plot(p*p0, title="38.2%, 0.50stddev", color=aqua)
plot(p/p0, title="38.2%, 0.50stddev", color=aqua)
plot(p*p1,"84%, 1.00stddev",color=white)
plot(p/p1,"84%, 1.00stddev",color=white)
plot(p*p2,"90%, 1.28 stddev",color=lime)
plot(p/p2,"90%, 1.28 stddev",color=lime)
plot(p*p3,"95%, 1.65 stddev",color=olive)
plot(p/p3,"95%, 1.65 stddev",color=olive)
plot(p*p4,"97.7%, 2.00 stddev",color=blue)
plot(p/p4,"97.7%, 2.00 stddev",color=blue)
plot(p*p5,"99%, 2.33 stddev",color=yellow)
plot(p/p5,"99%, 2.33 stddev",color=yellow)
plot(p*p6,"99.5% 2.58 stddev",color=orange)
plot(p/p6,"99.5% 2.58 stddev",color=orange)
plot(p*p7,"99.99% 3.09 stddev",color=red)
plot(p/p7,"99.99% 3.09 stddev",color=red)
plot(p*p8,"4.0, 2.00 stddev 2^",color=blue)
plot(p/p8,"4.0, 2.00 stddev 2^",color=blue)
plot(p*p9,"4.66, 2.33 stddev 2^",color=yellow)
plot(p/p9,"4.66, 2.33 stddev 2^",color=yellow)
plot(p*p10,"5.16, 2.58 stddev 2^",color=orange)
plot(p/p10,"5.16, 2.58 stddev 2^",color=orange)
plot(p*p11,"6.18, 3.09 stddev 2^",color=red)
plot(p/p11,"6.18, 3.09 stddev 2^",color=red)
plot(p*p12,"6.0, 2.00 stddev 3^",color=blue)
plot(p/p12,"6.0, 2.00 stddev 3^",color=blue)
plot(p*p13,"6.99, 2.33 stddev 3^",color=yellow)
plot(p/p13,"6.99, 2.33 stddev 3^",color=yellow)
plot(p*p14,"7.74, 2.58 stddev 3^",color=orange)
plot(p/p14,"7.74, 2.58 stddev 3^",color=orange)
plot(p*p15,"9.27, 3.09 stddev 3^",color=red)
plot(p/p15,"9.27, 3.09 stddev 3^",color=red)
Reply coondawg71
Thank you for the script .. .but when I add it to the chart through pine editor it doesn't show anything.
Reply Ede
It was my fault. Thank you very much coondawg71 .
Reply Ede
Sorry pal, I never saw the comment. I will post the script shortly.
Reply
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