RicardoSantos

[RS][IL]Median Pivots V0

EXPERIMENTAL: median pivots calculated from open to extremes.
original idea from Ivan Labrie.
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study(title="[RS][IL]Median Pivots V0", shorttitle="[RS][IL]MP.V0", overlay=true)
timeframe = input("D", type=resolution)
sopen = security(tickerid, timeframe, open)
shigh = security(tickerid, timeframe, high)
slow = security(tickerid, timeframe, low)

scolor=sopen != sopen[1] ? na : black
scolor1=sopen != sopen[1] ? na : gray
plot(avg(sopen,shigh), color=scolor1)
plot(avg(sopen,slow), color=scolor1)
plot(sopen, color=scolor)
Another good job - can you comment on how you integrate the past few scripts you have shared with us?
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IvanLabrie PRO Alphaoptions
Open levels give an indication of momentum, when pitting current price vs open. If above, momentum's bullish.
That's how I read it. If crossed below after being above by a big margin, then the whole advance was wiped out by the sellers and momentum's bearish.
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I think you may have a copy of my playbook.
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IvanLabrie PRO coondawg71
?
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@coondawg71 i suppose this usage is similar to the hl2 median technique, yea... but inverted? :P
@Alphaoptions i dont have a usage method at the moment usually i just code what looks natural for the indicator i thought for a specific purpose (written on the topic description or comments) then correct any errors from there. :)
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IvanLabrie PRO RicardoSantos
It's a 50% retrace from open to extreme. I use that for entries. Learned from Tim West.
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coondawg71 PRO RicardoSantos
It was a joke. I love using medians. Thanks for all the cool indicators you have been putting out for us. For the simpletons like me, I agree with Alphaoptions, we may need a tutorial on what your intended concept may be with them so we can get the full potential. Thank you!
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