coondawg71

Arbitrary Price Pivots;Coondawg71

1279 12 140
Custom tool for establishing Price Pivots based on a Arbitrary price set by the user. Plug in any price in the input such as a daily open, weekly open, All Time High/Low, Big Round Number, I like using Fix Rates which can be difficult to establish but hidden support and resistance levels are established by central banks based on their respective trading bands. Great tool to use on Forex pairs under going heavy handed Central Bank intervention....ala USDRUB            
Remove from Favorite Scripts Add to Favorite Scripts
//Arbitrary Price Pivots;Coondawg71//
//set your own custom pivot levels by plugging in a significant price point: I like to use Fix Rates, or daily/weekly opening or daily Vwap//
//This tool works great for setting price targets using simple percentage targets//
//default settings are typical weekly targets I prefer//
study("Arbitrary Price Pivots",overlay=true)
 
p = input(000.0000,title="Pivot")
p0 = input(1.0025, title="p0")
p1 = input(1.0050, title="p1")
p2 = input(1.0100, title="p2")
p3 = input(1.0123, title="p3")
p4 = input(1.0161, title="p4")
p5 = input(1.0200, title="p5")
p6 = input(1.0500, title="p6")
plot(p,"Pivot",color=green)
plot(p*p0,"Pivot",color=gray)
plot(p/p0,"Pivot",color=gray)
plot(p*p1,"Pivot",color=aqua)
plot(p/p1,"Pivot",color=aqua)
plot(p*p2,"Pivot",color=white)
plot(p/p2,"Pivot",color=white)
plot(p*p3,"Pivot",color=olive)
plot(p/p3,"Pivot",color=olive)
plot(p*p4,"Pivot",color=yellow)
plot(p/p4,"Pivot",color=yellow)
plot(p*p5,"Pivot",color=teal)
plot(p/p5,"Pivot",color=teal)
plot(p*p6,"Pivot",color=red)
plot(p/p6,"Pivot",color=red)//////
https://www.tradingview.com/chart/cnzL2Zwp/

Here Ive used the Swap level of 110.80 on USDJPY. We see it is a very strong level on this pair. I know I have a good level picked out when I see a very strong reaction to the 3rd deviation on the first visit. Power of 3 is very strong factor.
Reply
Nice....thanks!!
Reply
@ajmzfx, you are very welcome. Simple tool, yet very effective to sort through the noise. Pretty good to use on Fx common Swap levels too...resistance turned support and vice versa.
Reply


Granted, I could/should have done this earlier, at monthly opening. Regardless, an update on Euro USD price placement within the month of January. See how something as simple percentages from the beginning of the month can prove very effective.
Reply
http://www.bloomberg.com/markets/currencies/fx-fixings/london/12-01-2014/1600/

good point of resource info for Daily and Historical Fix Rates, plug in the fix rate and set the indicator to calculate your personal % pivots, very useful !
Reply
coondawg71 coondawg71
Please keep in mind, the default listing is London 4pm, obviously this is 11am EST.
Reply
Looks great, have to look into fix rates more closely, been away from FX for a while.
Thanks for sharing!
Reply
coondawg71 IvanLabrie
Thanks Ivan! Russia "says" they won't commit any more funds to Intervention efforts yet that laid a smack down of 700 million USD$ at the 54.91 USDRUB level last night. Let's see how that works out.
Reply
coondawg71 coondawg71
http://online.wsj.com/articles/bank-of-russia-spent-700-million-dec-1-trying-to-ease-ruble-pressure-1417592893

here is the story
+1 Reply
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
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder 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