dgmoon

Auto Phivots S/R [DM]

Greetings colleagues
Today I share the classic pivot points indicator
Added options:
Standard levels
Fibonacci levels "up to 261'8"
Logarithmic scale option


// Pivot Points Standard
// Pivot Points Standard — is a technical indicator that is used to determine the levels
//at which price may face support or resistance. The Pivot Points indicator consists of
//a pivot point ( PP ) level and several support (S) and resistance (R) levels.
//
//Calculation
// PP , resistance and support values are calculated in different ways, depending on
//the type of the indicator, specified by the Type field in indicator inputs. To
//calculate PP and support/resistance levels, the values OPENcurr, OPENprev, HIGHprev,
//LOWprev, CLOSEprev are used, which are the values of the current open and previous
//open, high, low and close, respectively, on the indicator resolution. The indicator
//resolution is set by the input of the Pivots Timeframe. If the Pivots Timeframe is set
//to AUTO (the default value), then the increased resolution is determined by the
//following algorithm:
//
//for intraday resolutions up to and including 15 min, DAY (1D) is used
//for intraday resolutions more than 15 min, WEEK (1W) is used
//for daily resolutions MONTH is used (1M)
//for weekly and monthly resolutions, 12-MONTH (12M) is used
Release Notes: Replace 2.236 to 2.00
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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