ChartArt

Rounded Weekly Pivot (by ChartArt)

368 0 42
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:
snapshot

And here with the pivot drawing disabled, showing only the pivot bar trend color
snapshot
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)
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out