ChartArt

Rounded Weekly Pivot (by ChartArt)

588 0 74
Trade with the trend. This is an overlay indicator which shows the weekly pivot (rounded) either as line or circle drawing, select-able by the user. The width of the pivot line (or circle) overlay is also adjustable.

In addition the bars can be colored by the trend, depending if the close price is above or below both the weekly and monthly pivots . If the close price is neither above or below both the weekly and monthly pivot prices the trend color is neutral blue.

The weekly pivot indicator with the optional setting that the pivot price is drawn as circles instead of a line:

And here with the pivot drawing disabled, showing only the pivot bar trend color
Remove from Favorite Scripts Add to Favorite Scripts
//@version=2
study("Rounded Weekly Pivot (by ChartArt)",overlay=true,shorttitle="CA_-_Weekly_Pivot")

// ChartArt's Rounded Weekly Pivot Overlay Indicator
//
// Version 1.0
// Idea by ChartArt on December 5, 2015.
//
// This is an overlay indicator which shows
// the weekly pivot (rounded) either as
// line or circle drawing, select-able by
// the user. The width of the line is also
// adjustable.
//
// In addition the bars can be colored by the
// trend, depending if the current close price
// is above or below both the weekly and monthly
// pivot prices. If the close price is neither
// above or below both the weekly and monthly
// pivot prices the trend color is neutral blue.
//
// List of my work: 
// https://www.tradingview.com/u/ChartArt/


// Input
switch1=input(true, title="Show Weekly Pivot?")
switch2=input(true, title="Draw Weekly Pivot as Line?")
pivotlinewidth = input(3, minval=1, title="Line Width of Weekly Pivot")
switch3=input(true, title="Enable Bar Color?")

// Calculation
roundedweeklypivot = round ( security(tickerid,"W", hlc3[1]) )
monthlypivot = security(tickerid,"M", hlc3[1])
linestyle=switch2?line:circles

// Colors
weeklypivotcolor = close > roundedweeklypivot and close > monthlypivot ? green : close < roundedweeklypivot and close < monthlypivot ? red : blue
weeklypivotbgcolor = close > roundedweeklypivot and close > monthlypivot ? green : close < roundedweeklypivot and close < monthlypivot ? red : blue

// Output
plot(switch1?roundedweeklypivot:na, color=gray, title="Pivot", style = linestyle, linewidth = pivotlinewidth,transp=0)
barcolor(switch3?weeklypivotcolor:na)
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out