HPotter

Dynamic Pivot Point

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This Pivot points is calculated on the current day.
Pivot points simply took the high, low, and closing price from the previous period and
divided by 3 to find the pivot. From this pivot, traders would then base their
calculations for three support, and three resistance levels. The calculation for the most
basic flavor of pivot points, known as ‘floor-trader pivots’, along with their support and
resistance levels.
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////////////////////////////////////////////////////////////
//  Copyright by HPotter v1.0 11/07/2014
// This Pivot points is calculated on the current day.
// Pivot points simply took the high, low, and closing price from the previous period and 
// divided by 3 to find the pivot. From this pivot, traders would then base their 
// calculations for three support, and three resistance levels. The calculation for the most 
// basic flavor of pivot points, known as ‘floor-trader pivots’, along with their support and 
// resistance levels.
////////////////////////////////////////////////////////////
study(title="Dynamic Pivot Point", shorttitle="Dynamic Pivot Point", overlay = true)
width = input(2, minval=1)
xHigh  = security(tickerid,"D", high)
xLow   = security(tickerid,"D", low)
xClose = security(tickerid,"D", close)
vPP = (xHigh+xLow+xClose) / 3
vR1 = vPP+(vPP-xLow)
vS1 = vPP-(xHigh - vPP)
vR2 = vPP + (xHigh - xLow)
vS2 = vPP - (xHigh - xLow)
vR3 = xHigh + 2 * (vPP - xLow) 
vS3 = xLow - 2 * (xHigh - vPP)
plot(vS1, color=#ff0000, title="S1", style = circles, linewidth = width)
plot(vS2, color=#ff002a, title="S2", style = circles, linewidth = width)
plot(vS3, color=#ff014a, title="S3", style = circles, linewidth = width)
plot(vR1, color=#009600, title="R1", style = circles, linewidth = width)
plot(vR2, color=#006F00, title="R2", style = circles, linewidth = width)
plot(vR3, color=#004900, title="R3", style = circles, linewidth = width)
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