coondawg71

Arbitrary Price Pivots;Coondawg71

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            
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//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)//////
Looks great, have to look into fix rates more closely, been away from FX for a while.
Thanks for sharing!
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coondawg71 PRO IvanLabrie
2 years ago
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.
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coondawg71 PRO coondawg71
2 years ago
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
coondawg71 PRO coondawg71
2 years ago
Here traders can be informed of the Daily Fix rate:
http://www.cbr.ru/eng/currency_base/daily.aspx?date_req=03.12.2014
+1 Reply
IvanLabrie PRO coondawg71
2 years ago
Now to find a broker that has that pair...;)
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 !
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coondawg71 PRO coondawg71
2 years ago
Please keep in mind, the default listing is London 4pm, obviously this is 11am EST.
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snapshot


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.
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snapshot

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