TradingView
tbiktag
Dec 7, 2020 9:29 PM

Pivot Spotlight: Filtering of Multi Time Frame Pivot Points 

Crude Oil (WTI)FXCM

Description

The script displays standard pivot points and the corresponding support (S) and resistance (R) levels closest to the current price. It simultaneously plots levels calculated on different timeframes (daily, weekly, monthly, yearly). Plotted levels are selected by means of a filtering window that instantly follows the price.

I personally use this script for intraday trading, but it is also compatible with higher time frames.


INPUT DESCRIPTION

Filtering window width:
A real number that defines the filtering range as a fraction of the previous high-low range on a higher timeframe.
For example, for a daily resolution and Filtering window width = 2.0, the filtering range equals 2.0*(previous month HIGH - LOW).

Max number of levels plotted:
If the filtering window is very broad, this parameter limits the number of displayed levels.

Type of pivot points:
Available options are Traditional, Fibonacci, Woodie, Classic, Demark, Camarilla.

Show Yearly (Monthly, Weekly, Daily) Pivots:
Pivots timeframes to display.
Note, however, that regardless of this input only the pivot levels of the timeframes higher than the current chart resolution will be plotted. For example, if the chart resolution is hours or days, only weekly, monthly and yearly levels will be displayed; daily levels will be omitted.


OUTPUT DESCRIPTION

The levels are labeled in accordance with the timeframe they are calculated on. For example, S1D is the first daily S level; R2W is the second weekly R level; PM is a monthly pivot point.

Release Notes

Fixed an issue with Woodie's pivot points.

Release Notes

fixed a small bug in the sorting subroutine

Release Notes

Major update

In the updated version, the approach to the processing of displayed objects (lines and labels) has been significantly redesigned. As a result, the existing bugs were fixed (such as duplicate display of labels, incorrect line behavior in the presence of time gaps in the chart).

New features added:
  • The line width and style, as well as the label font size and color are now fully customizable.
  • The line length can be changed by defining the input parameters Line Length Forward and Line Length Back.
  • The values of the pivot levels can be displayed by switching the Print Values option.
Comments
Ether2020
Amazing script! Well done and thank you so much!
tbiktag
@Ether2020, Many thanks! I'm happy that you like it!
Ether2020
@tbiktag, You are incredible talented! I am following you and if I have idea's will let you know!
tbiktag
@Ether2020, thank you very very much :)
gatindram
Mindblowing. A very good piece of work. Can you integrate CPR into it? Will be really useful.
tbiktag
@gatindram, Thanks a lot for the kind words! I made a note to enable CPR in the next update. (I plan to release it soon.)
gatindram
@tbiktag, Thanks for your response and attitude to help.Actually I tried to modify your script to include CPR and previous day High/ low . Infact successful to some extent. But sometimes it shows bug. If you want I can share my code. Importantly I have no skill in coding, but only understanding of plain English and some copy/paste. With this I have managed to get the work done, but as said with a bug, which I noticed recently.
tbiktag
@gatindram, I imagine that if you try to incorporate new features into this script things might get a bit messy. It uses a few tricky walkarounds to realize some features that were not available in Pine. Currently, Pine has everything I need to make the script more compact. Just wait for the update - it will be also easier to play around with the code.
pmk07
Superb! TY
tbiktag
@pmk07, Thanks!
More