OPEN-SOURCE SCRIPT
DeMark Pivot Points
A DeMark Pivot Point is an indicator that is used to identify potential reversal points in the market. This is done by looking for price action that creates a pivot point, which is then used to generate buy or sell signals.
Compared to other pivot points, its calculations start with a different base and use different formulas for support and resistance. These Pivot Points depend on the relationship between the candle's opening and closing levels.
DeMark Pivot Point can be used to create trading levels once the generating price action has been searched for and found.
Demark Pivot Points can be preferred for short time periods.
There is only one resistance (R1) and one support (S1) level. Demark Pivot Points do not have multiple support or resistance levels.
Compared to other pivot points, its calculations start with a different base and use different formulas for support and resistance. These Pivot Points depend on the relationship between the candle's opening and closing levels.
DeMark Pivot Point can be used to create trading levels once the generating price action has been searched for and found.
Demark Pivot Points can be preferred for short time periods.
There is only one resistance (R1) and one support (S1) level. Demark Pivot Points do not have multiple support or resistance levels.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.